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.

8Following

2.7Kfollowers

Feed

Livestream

Feed

I sincerely do not want to criticize competitors when they are facing a crisis. What I truly hope for is that we can work together with them to raise security standards and better protect the entire crypto industry. But I have to say, the recent interview given by the so-called "richest man in crypto" who claims he no longer manages Binance (do you really believe that?) made me feel disgusted. The entire interview was full of nonsense and misleading statements. He seemed to downplay the responsibility he should bear and even tried to find excuses for his failures by belittling the security of traditional banks. In such a crisis, what we should see is accountability and industry leadership. But this interview felt like a continuous shirking of responsibility and shifting of focus. This is absolutely not the kind of leadership our industry needs. Since the incident occurred, this "richest man in crypto" seems unstoppable: 1. One of the most active people on social media. During the entire crisis, he was arguably the most vocal and active person related to Binance on social media. 2. Still has time to argue with Musk. During such a serious security crisis, he even had the energy to debate with Elon Musk (@elonmusk) about SpaceX stock investments. 3. Repeatedly emphasized that "only 2% of funds flowed out of Binance." As if this number alone could answer fundamental doubts about the platform's security. 4. Continued marketing campaigns to attract user deposits. Even while the crisis is ongoing, marketing efforts to bring in new funds have not stopped. 5. Tried to imply that traditional banks are less secure. How can a self-proclaimed professional crypto industry leader make such a misleading comparison? Traditional banks and crypto exchanges face fundamentally different threat models, attack surfaces, and consequences of security incidents. Making a simple comparison without this context is extremely irresponsible. 6. Almost every time he speaks, it seems he pushes a pregnant woman to the front line of the crisis. Meanwhile, he repeatedly adds the same disclaimer: "I no longer manage Binance." At the same time, the entire crypto industry is paying the price for this crisis: 1. Bitcoin price reportedly dropped from about $81,000 to $75,000. The market suffered a clear impact amid the turmoil. 2. Tens of billions of dollars in leveraged positions were liquidated. Market volatility triggered massive forced liquidations. 3. The credibility of the entire crypto industry may be severely damaged again. Traditional capital markets, institutional investors, and global regulators may develop deeper doubts about the industry's security and trustworthiness. After all this, their so-called "multi-layer security defense system" increasingly looks like a joke. What our industry needs is not more excuses, not more PR talk, but genuine cooperation, real accountability, and effective user asset protection and security standard building. Less shirking of responsibility, less marketing packaging, more real security investment and industry collaboration. This is what I am more willing to invest my time and energy in promoting. Even if they are competitors, I sincerely hope we can work together to get this right.