If we pull the timeline back one year, we will find that many people actually underestimated what kind of chess OKX will play next. Starting from 2025, OKX has been consistently doing one thing: Cutting, restructuring, and compliance. Product line adjustments, regional business segmentation, high-profile slogans, and continuous emphasis on compliance. Looking back now, these actions are actually very clear—— It is preparing to enter the global financial system. The just released news can be considered as a stage verification. Intercontinental Exchange (parent company of the New York Stock Exchange) has invested in OKX with a valuation of $25 billion and plans to explore a blockchain based stock trading system. Very high gold content: Firstly, Intercontinental Exchange is the parent company of the New York Stock Exchange, essentially representing one of the most core infrastructures of the global traditional financial system. In the past few years, traditional capital has invested heavily in cryptocurrency exchanges, but most of it has come from venture capital, such as a16z, Sequoia Capital, Paradigm And this time, it is the fate of the traditional financial exchange system itself. The traditional securities market is seriously considering moving stocks onto the chain. If on chain equities really emerge in the future, The exchange requires not only financial licenses, but also: • Global user base High performance matchmaking system • Web3 asset management capability • On chain infrastructure In these dimensions, OKX is indeed one of the few platforms that simultaneously has CeFi+Web3+global users. In the past few years, the most commonly compared objects in the industry are of course Binance。 Binance's implied valuation at its peak was once believed by the market to exceed $300 billion. But after the global regulatory storm, the entire industry valuation system has been completely rewritten. During such a cycle, OKX's valuation of 25 billion yuan endorsed by the traditional financial exchange system is indeed very impressive. Even during bear markets, the pace of OKX has remained stable. Recently, I have seen it closely following the OpenClaw ecosystem trend, Open more APIs and strengthen trading tools and strategy interfaces. For quantitative teams, developers, and automated traders, this is actually a very important step. It is said that OKX will launch some new skills/tools in the future to further enhance the capabilities between trading and the on chain ecosystem. The market never needs one dominant player, what it needs is a diverse and healthy competition. But if traditional finance has already begun to decline, then the next competitors are not just each other. I hope everyone will have less conflict and more construction in the future. Because the truly big story has just begun.