OKX founder criticizes: The "XX Life" speculative narrative in the Chinese community is eroding the cryptocurrency industry

OKX Founder Star Criticizes Chinese Community for Relying on Meme and 100x Narratives to Self-Depreciate the Industry, Emphasizing That Only Compliance and Anti-Speculation Can Earn Respect from the System.

At OKX’s Year-End Dinner, OKX Founder Star openly stated that some self-proclaimed “industry leaders” have long been irresponsibly sensationalizing the market, reducing the crypto industry to speculative symbols like “meme coins,” “100x coins,” and “all-in,” which severely mislead outsiders’ understanding of the entire industry. He asked, when industry practitioners themselves use such language to describe their own industry, how can we expect the government, regulators, or mainstream financial systems to give institutional respect?

He sarcastically pointed out that the narrative from the Binance ecosystem still remains stuck in memes, and the Chinese community continues to rely on these exaggerated stories. Star emphasized that such narratives are not only self-deprecating but also fundamentally erode the long-term value of the industry.

Star contrasted the Western and Eastern crypto industries, noting that the US and European markets have gradually incorporated digital assets into a regulated governance framework. Not only have political leaders signed relevant bills at the White House, but many crypto and blockchain-related companies are listed on New York Stock Exchange and Nasdaq, with the industry gradually aligning with basic financial principles and technological infrastructure.

In comparison, he pointed out that the Chinese community still promotes extreme narratives such as “10,000x life,” “overnight riches,” and “he’s coming,” and expressed strongly that such statements are not only self-deprecating but also substantially erode the industry’s long-term value.

The community generally interprets that Star’s remarks specifically target the mainstream BNB Chain meme coin culture in the Chinese community, similar to the recently popular “I’m coming” meme coin. Although he did not directly name Binance, his criticism of speculative language has been seen as a clear disassociation from that narrative style.

Star Emphasizes the Importance of Compliance and Anti-Speculation at the Year-End Dinner

Star finally stressed the importance of anti-speculation and compliance, saying: “If you only make money but don’t earn respect, what’s the point? Your money could be seized or confiscated at any time, so what’s the use? We who work hard and honestly, have we ever stolen someone else’s money? Have we ever robbed others? We are much stronger than some companies that scam under the name of ‘Bitcoin,’ right? We are much better than those real estate companies, right? We have never defrauded the common people.”

• This article is reprinted with permission from: 《Chain News》
• Original title: 《OKX Founder Star’s Year-End Dinner Speech Criticizes Chinese Community’s “XX Life” Speculative Narratives Eroding the Industry》
• Original author: Neo