The cryptocurrency landscape has faced turbulent times in recent years. After reaching staggering highs in November 2021—when Bitcoin surged past $68,000—the market plunged dramatically by early 2022, bottoming out near $35,000. This extreme volatility was exacerbated by the high-profile collapses of major crypto entities such as Celsius, Three Arrows Capital, and the Terra (Luna) ecosystem. These failures not only wiped out billions in market value but also shook investor confidence across the digital asset space.
Yet, despite these setbacks, industry leaders believe that crypto is here to stay. The underlying blockchain technology, decentralized finance (DeFi), and emerging Web3 applications continue to evolve, signaling long-term resilience and innovation. At the forefront of this movement stands OKX, a leading cryptocurrency exchange and digital wallet platform known for its robust security infrastructure and forward-thinking ecosystem.
Jay Hao, CEO of OKX, remains optimistic about the future of digital assets. Even amid market downturns, OKX has maintained stability, protected user funds during crises like the Luna crash, and continued expanding into NFTs, metaverse integrations, and decentralized finance. I had the opportunity to discuss the state of the crypto industry and OKX’s strategic direction with Hao himself.
The Evolution of OKX: From Exchange to Ecosystem
Q: What did OKEx mean, and why did you rebrand to OKX?
Jay Hao: The shift from OKEx to OKX reflects our vision for a more decentralized future—one where digital assets intersect with immersive virtual experiences and next-generation financial systems. The "X" symbolizes the unknown, the unexplored possibilities in finance, gaming, identity, and beyond.
We're no longer just a centralized exchange. We're building a full-stack Web3 ecosystem that empowers users to learn, trade, earn, and explore. DeFi and play-to-earn gaming are just the beginning. By dropping the "E" and embracing the "X," we’re signaling a transformation—not just in branding, but in purpose.
Our goal is to grow alongside our users, guiding them through an expansive digital frontier.
👉 Discover how OKX is shaping the future of digital finance.
What Sets OKX Apart in a Crowded Market?
Q: How does OKX differentiate itself from platforms like Coinbase or Crypto.com?
Jay Hao: While many exchanges cater primarily to experienced traders, our mission is to Make Crypto Mainstream. We design our tools and resources for everyone—from complete beginners to institutional investors.
OKX ranks as the second-largest exchange globally by spot and futures trading volume. We offer advanced trading features such as portfolio margin mode and options trading—capabilities still unavailable on many competing platforms.
Beyond trading, the OKX Wallet serves as a gateway to Web3. It allows seamless interaction with decentralized applications (dApps), NFT marketplaces, metaverse environments, and DeFi protocols. This integration positions OKX not just as an exchange, but as a holistic platform for digital ownership and financial autonomy.
Security remains paramount. OKX has never been hacked—a critical differentiator in an industry plagued by breaches. We also offer some of the lowest trading fees available, making crypto access more affordable and inclusive.
Security First: Building Trust in a High-Risk Environment
Q: What security measures does OKX employ to protect users?
Jay Hao: Our track record speaks for itself: OKX has never been compromised. That’s not luck—it’s the result of rigorous internal systems and continuous external audits.
We’ve developed a proprietary trade monitoring model designed specifically to detect manipulative behaviors like wash trading and self-matching—activities that third-party tools often miss. This proactive surveillance helps maintain market integrity.
Additionally, we partner with Hacken, a renowned cybersecurity firm, for regular penetration testing. Our systems are verified through their audit processes. We also run a bug bounty program via Cert.live, which continuously stress-tests our infrastructure for vulnerabilities.
👉 See how OKX ensures your digital assets stay secure around the clock.
NFTs and the Metaverse: Driving Adoption Through Innovation
Q: How active is NFT trading on OKX?
Jay Hao: We currently host over 1 million NFTs on our platform, with approximately 300,000 traded in 2022 alone. Our NFT marketplace supports multiple blockchains and offers creators and collectors a streamlined experience for minting, buying, and selling digital collectibles.
Q: Are you collaborating with metaverse projects?
Jay Hao: Yes. In May 2025, we partnered with Everdome, a Mars-inspired metaverse project. Not only did we acquire significant virtual land within Everdome, but we’re also working closely with their team to onboard partners and build engaging experiences that merge finance, gaming, and social interaction.
This collaboration exemplifies our commitment to bridging centralized platforms with decentralized worlds.
Navigating Industry Turmoil: Lessons from Recent Crises
Q: What are your thoughts on the current state of the crypto industry?
Jay Hao: The recent wave of insolvencies revealed critical flaws in risk management and transparency. Many investors entrusted funds to third parties without visibility into how those assets were being used—sometimes even to cover margin calls.
That’s why we launched the OKX Custody Trading Sub-Account, giving institutional clients greater control and real-time oversight of their trading activities. Transparency isn’t optional—it’s essential.
The collapse of Luna triggered a domino effect, particularly impacting platforms relying on unsustainable high-yield models. But it also highlighted the strength of our risk protection systems.
Q: Did OKX have exposure to 3AC, Luna/UST, or Celsius?
Jay Hao: We maintain strict risk controls and do not enter into special margin agreements with trading firms. While we listed these assets like other major exchanges, our automated risk system activated during the Luna crash, protecting hundreds of millions in user funds.
OKX was the only major exchange to fully shield its users from losses during that event—a testament to our technological edge.
The Future of Stablecoins and Responsible Investing
Q: Do stablecoins have long-term utility?
Jay Hao: Absolutely. A regulated, fiat-backed stablecoin integrated within traditional banking systems represents the future of fast, low-cost global payments. Stability and trust are key—and regulation will play a crucial role in achieving both.
Q: What advice would you give new or advanced users?
For beginners: Take advantage of OKX Learn, our free educational platform. Use Demo Trading to practice without risk. Crypto is volatile—diversify your portfolio and adopt a long-term perspective.
For advanced traders: OKX offers unparalleled security, ultra-low fees, advanced order types, and powerful risk management tools tailored to sophisticated strategies.
What’s Next for OKX?
Q: Any upcoming features or projects?
Jay Hao: We’re doubling down on Web3 and the metaverse. The OKX Wallet is central to this strategy—our portal into DeFi, NFTs, and immersive digital worlds.
We’re also enhancing our educational offerings with new interactive learning modules launching soon. And while I can’t reveal too much yet—we’re introducing innovative ways to simplify trading for all user levels.
Our vision is clear: build a safer, smarter, and more accessible crypto ecosystem for everyone.
👉 Be among the first to explore OKX’s next-generation trading tools.
Frequently Asked Questions (FAQ)
Q: Has OKX ever been hacked?
A: No. OKX has never suffered a security breach—a key factor in its reputation as one of the safest crypto platforms globally.
Q: How does OKX protect users during market crashes?
A: Through proprietary risk monitoring systems that automatically trigger protective measures, such as liquidation prevention and margin safeguards—proven effective during events like the Luna collapse.
Q: Can I trade NFTs on OKX?
A: Yes. OKX supports over 1 million NFTs across multiple blockchains, with active trading volumes reflecting strong community engagement.
Q: Is OKX suitable for beginners?
A: Absolutely. With free educational resources, demo trading accounts, and intuitive interfaces, OKX supports users at every level of experience.
Q: Does OKX offer leverage trading?
A: Yes. OKX provides futures and margin trading with flexible leverage options, along with advanced tools like portfolio margin mode for experienced traders.
Q: What blockchains does OKX support?
A: The OKX Wallet connects to numerous blockchains including Ethereum, Solana, Bitcoin (via integrations), BNB Chain, Arbitrum, and more—enabling broad access to dApps and tokens.
Core Keywords: cryptocurrency exchange, crypto security, NFT trading platform, Web3 wallet, decentralized finance (DeFi), stablecoins, risk management in crypto