In a recent address, Star Xu, the founder and CEO of leading cryptocurrency exchange OKX, shared his profound reflections and future outlook on the Bitcoin and cryptocurrency sector. Speaking at the "OKX New Year’s Dinner" event in Da Nang, Vietnam via video link, Xu emphasized that cryptocurrencies and artificial intelligence (AI) are poised to be among the most promising areas for commercial technology development over the next decade.
Addressing the "Crypto Circle" Misconception
Star Xu highlighted a critical issue surrounding the terminology often used to describe the cryptocurrency industry. He pointed out that the Chinese term "币圈" (bì quān), which translates to "crypto circle," carries a derogatory connotation in many contexts. This label often creates unwarranted prejudice against the entire sector.
Xu argued that the industry should instead be recognized for its technological innovation and economic empowerment potential. He provided a practical example: individuals who transition into the crypto space after other business ventures are sometimes described negatively as having "entered the cryptocurrency circle," implying a downward career move rather than recognition of innovative pursuits.
After decades in the cryptocurrency sector, Xu stated he has come to understand it as "a technology-driven, innovative, and vibrant industry that enjoys global regulatory support." He called on industry participants to help reshape the narrative by consciously using language that reflects the sector's true nature—innovative, technological, and transparent.
Bitcoin's Investment Performance and Market Potential
Another significant aspect of Xu's address focused on investment performance and market development. He noted that in recent years, no traditional investment fund has consistently outperformed Bitcoin, making it an exceptional asset class for returns.
Xu specifically cautioned industry operators against what he called "superstition surrounding 'wealth codes'"—the notion that complex trading strategies or secret formulas consistently outperform simple Bitcoin holding strategies. His comments suggest that many overlook Bitcoin's fundamental strength while chasing elusive trading secrets.
Regarding market potential, Xu presented a compelling comparison: the current Bitcoin market is approximately one-tenth the size of the gold market. However, he highlighted that the inflow of funds into Bitcoin exchange-traded funds (ETFs) has already surpassed that of gold ETFs—a strong indicator of growing institutional acceptance and future growth potential.
Based on these observations, Xu believes the cryptocurrency sector could expand by a hundredfold from its current size. He encouraged event attendees to maintain Bitcoin within their acceptable investment ranges and continue participating in the sector for both financial and personal fulfillment reasons.
OKX's Development and Future Plans
Star Xu also discussed OKX's achievements throughout 2024, highlighting the successful development of their Web3 wallet and exchange products. The company launched OKX.TR, a new crypto exchange platform tailored for the Turkish market, and OKX GameSphere, a Web3 gaming platform that integrates cryptocurrency with gaming experiences.
Licensing achievements featured prominently in Xu's address. In September 2024, OKX obtained a Major Payment Institution license in Singapore, significantly expanding their operational capabilities in the Asian market. The company also selected Malta as its European hub to ensure compliance with the European Union's Markets in Crypto-Assets (MiCA) regulation framework.
These regulatory milestones complement OKX's growing global presence. According to October 2024 data, the OKX app ranked as the second most downloaded centralized exchange (CEX) application worldwide, with approximately 2.2 million downloads that month alone.
Looking forward, Xu hinted at an upcoming "secret commercial line" set to launch in February, though specific details remain undisclosed. This announcement has generated anticipation within the crypto community regarding what innovative products or services OKX might introduce next.
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The Intersection of Crypto and AI
Expanding on his vision for the next decade, Xu emphasized the converging paths of cryptocurrency and artificial intelligence. He believes these two technological domains will mutually reinforce each other's development, creating new opportunities for commercial applications.
AI technologies can enhance cryptocurrency security through advanced threat detection, optimize trading algorithms, and improve user experience through personalized interfaces. Conversely, blockchain technology can provide the transparent, auditable data frameworks that AI systems require for training and verification purposes.
This synergy between crypto and AI represents what Xu considers "one of the best sectors for the development of commercial technology" in the coming years. Companies that effectively integrate both technologies may gain significant competitive advantages in the evolving digital economy.
Building a Responsible Crypto Industry
Throughout his address, Xu consistently returned to the theme of industry responsibility and reputation management. He emphasized that positive perception of the cryptocurrency sector must be built through concrete actions, not just marketing messages.
This includes developing genuinely useful products, maintaining transparent operations, complying with regulatory requirements, and fostering ethical practices throughout the ecosystem. Xu specifically mentioned respecting colleagues and competitors alike as fundamental to building an industry worthy of professional respect.
The focus on regulatory compliance in multiple jurisdictions demonstrates OKX's commitment to operating within established legal frameworks—a approach that contrasts with some crypto companies that have resisted regulatory engagement.
Frequently Asked Questions
What did OKX's CEO say about Bitcoin's investment potential?
Star Xu stated that Bitcoin has outperformed traditional investment funds in recent years and believes the cryptocurrency market could grow a hundredfold from its current size. He specifically noted that Bitcoin ETF inflows have surpassed those of gold ETFs, indicating strong institutional interest.
How does Star Xu suggest changing perception of the crypto industry?
Xu recommends consciously using language that emphasizes technological innovation and economic empowerment rather than terms with negative connotations. He encourages industry participants to build reputation through actions that demonstrate transparency, innovation, and compliance.
What regulatory milestones has OKX achieved recently?
In 2024, OKX obtained a Major Payment Institution license in Singapore and established Malta as its European hub to comply with the EU's MiCA regulation. These developments significantly expand OKX's operational capabilities across important markets.
What products has OKX launched recently?
The exchange introduced OKX.TR for the Turkish market and OKX GameSphere, a Web3 gaming platform. The company also enhanced its Web3 wallet and exchange products throughout 2024.
What is OKX's upcoming "secret commercial line"?
While details remain undisclosed, OKX has announced a new commercial product line launching in February. Based on the company's history, this likely involves innovative cryptocurrency or Web3 services.
How does Star Xu view the relationship between crypto and AI?
Xu believes cryptocurrency and artificial intelligence will be mutually reinforcing technologies over the next decade. He anticipates significant commercial technology development at the intersection of these two fields, with each enhancing the other's capabilities and applications.