Star_OKX
Star_OKX
Founder & CEO of OKX (since 2013). Crypto will eat the world. Self-custody is the future. Everything will be onchain. Tweets not financial advice.
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Exchanges should make money through technology, products, and services, not by using customers' funds to make money.
This has always been my principle and the bottom line that OKX has adhered to throughout its more than a decade of development.
The most important asset in the financial industry is trust. Regardless of market changes or company growth, protecting customer asset security should never be a negotiable business choice.
Customers' assets belong to the customers, not the exchange.
We should focus our efforts on building better products, deeper liquidity, more efficient technical infrastructure, and higher quality services.
Make money by creating value, not by taking risks that customers cannot be informed of.
WuBlockchain
Star Xu: Exchanges should make money through technology and services, not customer funds
OKX founder and CEO Star Xu @star_okx recalled in an interview with New Era Finance Podcast @new_era_finance that the team once engaged with Three Arrows Capital, which proposed a profit-making plan, but he expressed no interest. When other prime brokers requested credit lines and delayed settlements, he also chose to refuse.
He believes that exchanges should earn through technology and services, not by using customer funds. Even if the assets managed by the platform grow rapidly, safeguarding customer funds remains the most important principle to navigate industry cycles.
Source: New Era Finance Podcast
OKX Shield is more than a protection program. It’s designed to encourage users to adopt stronger account security through technologies such as passkeys, secure enclaves, and anti-deepfake protection.
We backtested these security measures against five years of historical account takeover cases. The results were encouraging: very few of those cases would have succeeded if users had enabled these protections.
Our goal is to prevent account takeovers before they happen—not just compensate users afterward.
OKX Shield covers eligible account takeover incidents, but not scams involving transactions authorized by users.
Better security. Stronger prevention. Real protection.
That’s how we build trust through technology. 🛡️
By bringing EUR and EURC into a unified order book, we’re making it easier for European users to trade with deeper shared liquidity, better capital efficiency, and a seamless experience across fiat and stablecoins.
Stablecoins shouldn’t fragment liquidity. They should make financial markets more efficient and accessible.
Great to keep building with Circle. 🚀
Crypto is volatile. You can lose everything you invest in. OKX Europe Ltd, authorised by the MFSA.
OKX will periodically verify and update user identity information based on the specific circumstances of different accounts. For example, after 1 year, 3 years, or 5 years of account opening, or when identity documents expire, users may be required to complete identity verification again.
This is a routine procedure performed by global financial institutions to comply with KYC (Know Your Customer) regulations and does not imply any irregularity with your account.
There is no need to worry; simply follow the official instructions to truthfully verify and update the relevant information.
Thank you all for your understanding and cooperation. 🙏
No gathering lasts forever.
Haider has been with OKX for almost seven years. Over that time, both he and the company have grown tremendously together—from his early days in marketing at OKCoin to becoming OKX’s Global CMO.
We sincerely appreciate the contributions he has made to the company and wish him every success in the next chapter of his career.
As an organization, OKX will never stop evolving—across our products, our business, and our team. Our vision is to become a truly global fintech company for the next generation.
We believe that the great talent already at OKX, together with the outstanding people who will join us in the future, will continue working hard, pushing boundaries, and achieving even greater things in the years ahead.
haider
After almost seven years at @OKX, I am stepping back from my role to take a meaningful break, focus on my family and personal priorities, and make space for what comes next.
It has been an incredible privilege to help build the @OKX brand and see its growth. I am deeply grateful to Star Xu @star_okx for his trust, partnership, and the opportunities he created for all of us.
And thank you to every OKX employee I have had the privilege to work alongside. I am proud of what we built together and excited to see the company continue to grow.
This is not goodbye. It is simply the next chapter.
It’s never easy being a crypto entrepreneur.
Huge respect to the Solana Foundation team for continuing to build, engage with communities, and push the technology forward through all kinds of challenges.
Crypto is becoming a foundational technology for modernizing the financial system. Adoption will take different paths and move at different speeds across jurisdictions, but I believe the direction is clear.
Keep building. 🚀
Lily Liu
We put Solana on the big screen because that’s the big heart Solana has for the Chinese community, and that’s the warm welcome we are so thankful to feel from the Chinese community.
Due to the publicity, event registrations quadrupled overnight, far exceeding the event cap we had registered with local authorities, and we had no way to prevent people from overwhelming the venue.
So, in order to comply with local requirements, we are going to postpone this event for when we can better accommodate the breadth and scale of our community.
Apologies to everyone who came from near and far to come be part of Solana in Shanghai.
See you soon!
Who is the “Yue Buqun” of the crypto circle?
The YouShang 10·11 incident swept through the global crypto market, affecting hundreds of billions of dollars in assets of users worldwide, causing enormous losses and unspeakable pain to countless participants in the crypto industry. The entire crypto market then fell into a long winter, with countless people's wealth, confidence, and hope severely damaged in this storm.
However, faced with such a disaster that left deep scars on the entire industry, the richest man, in an interview, blatantly lied and casually said:
"In fact, Binance put forward about 800 million dollars to compensate users who suffered losses on the Binance platform, even though Binance originally had no obligation to do so, right? That is to say, Binance had no obligation to compensate, but Binance voluntarily and proactively made these compensations."
Hundreds of billions of dollars in market losses and the pain of countless users, in his words, ultimately became a ‘voluntary compensation’ worthy of self-praise.
10/10 reminded us that crypto is still a young industry, and the actions of a few large players can affect millions of users.
Market leaders should think beyond their own P&L. If you benefit the most from the growth of the industry, you also carry a greater responsibility to protect its resilience, fairness, and credibility.
Build for the long term. Protect the ecosystem that made your success possible.
Star_OKX
No complexity. No accident.
10/10 was caused by irresponsible marketing campaigns by certain companies.
On October 10, tens of billions of dollars were liquidated. As CEO of OKX, we observed clearly that the crypto market’s microstructure fundamentally changed after that day.
Many industry participants believe the damage was more severe than the FTX collapse. Since then, there has been extensive discussion about why it happened and how to prevent a recurrence. The root causes are not difficult to identify.
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What actually happened
1.Binance launched a temporary user-acquisition campaign offering 12% APY on USDe, while allowing USDe to be used as collateral with the same treatment as USDT and USDC, and without effective limits.
2.USDe is a tokenized hedge fund product.
Ethena raises capital via a so-called “stablecoin,” deploys it into index arbitrage and algorithmic trading strategies, and tokenizes the resulting fund. The token can then be deposited on exchanges to earn yield.
3.USDe is fundamentally different from products such as
BlackRock BUIDL and Franklin Templeton BENJI, which are tokenized money market funds with low-risk profiles.
USDe, by contrast, embeds hedge-fund-level risk. This difference is structural, not cosmetic.
4.Binance users were encouraged to convert USDT and USDC into USDe to earn attractive yields, without sufficient emphasis on the underlying risks. From a user’s perspective, trading with USDe appeared no different from trading with traditional stablecoins—while the actual risk profile was materially higher.
5.Risk escalated further as users:
•converted USDT/USDC into USDe,
•used USDe as collateral to borrow USDT,
•converted the borrowed USDT back into USDe,
•and repeated the cycle.
This leverage loop produced artificial APYs of 24%, 36%, and even 70%+, widely perceived as “low risk” simply because they were offered by a major platform. Systemic risk accumulated rapidly across the global crypto market.
that point, even a small market shock was sufficient to trigger a collapse.
When volatility hit, USDe depegged quickly. Cascading liquidations followed, and weaknesses in risk management around assets such as WETH and BNSOL further amplified the crash. Some tokens briefly traded near zero.
The damage to global users and companies—including OKX customers—was severe, and recovery will take time.
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Why this matters
I am discussing the root cause, not assigning blame or launching an attack on Binance. Speaking openly about systemic risks is sometimes uncomfortable, but it is necessary if the industry is to mature responsibly.
I expect there may be significant misinformation and coordinated FUD directed at OKX in the near future. Even so, speaking honestly about systemic risk is the right thing to do—and we will continue to do so.
As the largest global platform, Binance has outsized influence—and corresponding responsibility—as an industry leader. Long-term trust in crypto cannot be built on short-term yield games, excessive leverage, or marketing practices that obscure risk.
The industry needs leaders who prioritize market stability, transparency, and responsible innovation—not a winner-take-all mentality where criticism is treated as hostility.
Crypto is still early.
What we choose to normalize today will determine whether this industry earns lasting trust—or repeats the same mistakes again.
Appreciate the kind words. 🙏
10/10 was a hard lesson for the entire industry, and we should never forget it.
It should also serve as a warning to that company—and to every other industry leader: the companies that benefit most from the growth of crypto have a greater responsibility to protect the health, stability, and long-term credibility of the industry.
Short-term returns should never come at the expense of market integrity or user trust.
The stronger the company, the greater the responsibility.
Michaël van de Poppe
I think that @star_okx is an extremely bright mind and visionary for waht he's been building over the last years.
Today is 10/10.
It's a year since the heaviest flash crash in #Crypto took place.
In a matter of minutes, some #Altcoins dropped all the way towards $0.
The entire industry changed that day, as we faced a one-year heavy bear market after that.
What happened? There are still many questions remaining on what has actually been happening on that specific day.
The clearest explanation I've heard so far comes from @star_okx.
Make sure to tune in and listen to what he has been saying in our episode of @new_era_finance.
