Over the years, many notable cryptocurrency figures and finance experts have voiced their skepticism about the blockchain network Ethereum, highlighting underlying network issues and adoption concerns as reasons for why the network as well as its native token ETH, may struggle to scale.
One such skeptic is the founder of leading cryptocurrency exchange OKX. The crypto founder Star Xu, who once undermined Ethereum’s ETH, seems to have backpedaled.
In a recent interview with cryptocurrency personality and podcaster Merov Crypto, OKX founder Star Xu looked back on a pivotal early decision involving Ethereum. He recalled that the project’s creator, Vitalik Buterin, had approached him in 2017 seeking a listing on the exchange.
At the time, Xu rejected the proposal outright, dismissing the then-emerging cryptocurrency with the blunt assessment that it was “a shitcoin.”
Reflecting on that moment years later, Xu openly conceded the misjudgment, explaining that the strong performance and positive results from an earlier successful listing of Litecoin had left him more risk-averse and conservative in his approach, ultimately causing him to overlook Ethereum’s potential.
Speaking on the exchange’s plans to remain relevant to its customers and maintain its validity in the broader cryptocurrency exchange ecosystem, the OKX boss detailed ongoing work on key platform features, including OKX’s unified trading account and its multichain wallet.
Notably, OKX’s unified trading account lets users trade spot and derivatives from one balance, sharing margin and offsetting profits/losses for higher capital efficiency. Its multichain wallet is a self-custodial tool supporting over 100 blockchains for seamless swaps, staking, and DApp access in a single interface.
He emphasized the importance of constructing these tools firmly around actual user requirements, enhancing overall capital efficiency, delivering a more seamless and intuitive experience, and remaining closely connected with customers so that the cryptocurrency exchange can continually refine and improve its offerings based on real customer feedback.
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