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OKX founder plans to launch secret Bitcoin business in Feb, predicts the industry will grow 100X
- OKX founder Star Xu teased a secret Bitcoin business launching in February, aiming to boost crypto innovation and mass adoption.
- OKX highlighted its neutrality, with OKB as its sole token and investments focused on high-quality, non-exclusive projects.
- The OKX Web3 Wallet plans to expand its multi-chain ecosystem.
Star Xu, the founder of crypto exchange OKX, has teased the upcoming launch of a secret Bitcoin-focused business, set to debut in February. Speaking at the “OKX New Year’s Dinner” in Da Nang, Xu shared limited details about the venture, describing it as a significant step toward driving industry innovation and accelerating mass adoption of cryptocurrencies.
As revealed by Chinese correspondent Colin Wu, the specifics of the project remains under wraps, as the product is still undergoing refinement. “We aim to contribute to industry innovation and accelerate mass adoption,” the OKX founder and CEO said, adding, “I’ll keep it a secret for now.”
OKX CEO outlines vision for growth
During the dinner event, the founder repeatedly mentioned three words, meant to echo the company’s focus in 2025: compliance, Bitcoin, wallets, OKB (OKX’s utility token), and innovation. He reflected on the evolution of Bitcoin, recounting how initial skeptics dismissed it as overpriced at $10, only to later see it as an undervalued asset.
“When BTC started at $10, many friends I know used to think that BTC was too expensive, but later they thought that BTC was too cheap… I believe similar situations will be repeated many times in the future,” Xu noted.
#OKX年夜饭 正式开幕！@star_okx 表示加密行业是一个周期驱动，得到全球监管支持的朝气蓬勃的领域
Crypto和AI将成为未来全球十年商业技术发展最好的两个行业 pic.twitter.com/19Ztu3vxEQ
— OKX中文 (@okxchinese) January 14, 2025
“The scale of the entire crypto industry will grow by 100x,” he predicted. Xu also drew a comparison between Bitcoin’s current market value, saying it was roughly one-tenth that of gold. However, owing to the success spot BTC exchange-traded funds (ETFs) have had over gold ETFs, the CEO believes the largest crypto will eclipse gold in the near future.
Commitment to neutrality and quality
The founder also shed light on OKX’s neutral stance in the industry, reaffirming that the platform does not create its own tokens beyond OKB. Instead, OKX Ventures, its investment arm, maintains an impartial approach by investing in projects regardless of their listing status on the crypto exchange.
“Our listing strategy is a means to discover high-quality assets,” he explained, while also acknowledging criticism that the platform has not empowered OKB sufficiently.
OKB, the utility token of OKX, is used for calculating and paying trading fees, participating in governance and voting processes, and providing rewards to users who hold the token. It also plays a crucial role as the “gas” of X Layer, with OKX team planning for more developments to enhance its utility.
OKX Web3 wallet’s progress
The exchange’s Web3 Wallet Product Director Aaron delivered a keynote at the same event, reflecting on the rapid development of the wallet and its role in the industry. Over the past few years, the Web3 Wallet has built a multi-chain ecosystem while engaging in trending sectors like airdrops, inscriptions, and decentralized exchanges (DEXs).
“OKX Web3 aims to become a fair hotspot platform and the Web3 gateway for players,” Aaron stated.
He described initiatives such as multi-chain and multi-account development during the airdrop season, launching a TG mini app during the TON trend, and enhancing market and DEX functionalities for memecoins.
Just recently, the crypto exchange issued a warning about unauthorized wallet extensions available in the Firefox plug-in store. These fake extensions were reported to add third-party functionality within the browser interface, posing a risk to users.
【重要公告】我们注意到近期 Firefox 浏览器插件商城中出现了假冒的 OKX Wallet 插件，请注意：OKX 官方目前尚未发布任何 Firefox 插件⚠️
如果您已经使用该恶意插件请立即转移相关钱包资产，我们已经就此向 Firefox 官方投诉。… pic.twitter.com/GjImvSA35l
— OKX中文 (@okxchinese) January 8, 2025
In a statement shared on January 8, the crypto exchange confirmed that it had not released an official Firefox browser extension for its wallet. The company urged users who had downloaded the extension to immediately secure their digital assets and migrate them to more safer storages.
“User safety remains our top priority,” OKX wrote in a post on its official X account, assuring its community that it is taking measures to prevent similar incidents in the future.
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Florence Muchai
Florence has been covering for the past 6 years crypto, gaming, tech, and AI news. Her Computer Studies at Meru University of Science and Technology and Disaster Management and International Diplomacy at MMUST amply equip her with language, observation and technical skills. Florence has worked at VAP Group and as an editor for several crypto media houses.
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