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OKX update during current market conditions

2022.06.16 OKX

We will continue to hire top talent and focus on building during the market down-turn

The recent market downturn has led to some fear and uncertainty. We’d like to share a quick update with our community and reasons we remain positive about our long-term growth. First off, OKX is continuing to expand internationally despite the current market conditions and we remain confident about our outlook on the industry and our growth ambitions. Our focus remains clear in these conditions. We will use the “bear market” as an opportunity to build and improve our culture, product and customer service capabilities.

Our company has weathered many market cycles. We’ve learned that market downturns are an absolute opportunity for us to double down on hiring, building and scaling our services. These are important stages for our industry to build the strength we all need for the “next bull cycle.” Like with previous cycles, we are excited to build towards welcoming the next wave of millions of new people into crypto markets.

We recognize the news around other firms scaling back growth and staffing has affected many people and families. Our talent teams are reaching out to those who may be a good fit for the open roles at OKX. Our strategy has always been to grow thoughtfully. We have paced our growth over the last few months despite having aggressive growth ambitions. This approach of pacing helps us maintain our culture, and make sure we onboard people properly so they are set up for success. However, despite the market conditions, we remain undeterred from our long-term investment in our talent and product innovation.

OKX has been around for 5 years, but our collective experience goes all the way back to the very early days of crypto (circa 2013). Many of us remember those early years as highly volatile, full of surprises like Mt. Gox, Bitcoin forks, and common downtimes on top exchanges and trading platforms. Despite the scars we all have, those moments matured our industry and made us all stronger. With every crisis, our industry emerges more resilient than before. However, we have learned that those who bet and double down on the future during these times are the ultimate winners of tomorrow. These are the times when we should continue to hire the best talent — talent we believe to be hungry to innovate and build for the future with a sense of passion and resilience.

Our view on the industry remains what it’s been since we started. Crypto is a fundamental technological revolution that has the power to make human life much better. That is why today, our leadership team is more confident in crypto than at any point in the past 10 years. It’s this long-term vision that has always been the foundation of our shared success.

We’ll remain focused on building world-class products. Just this year, we’ve shipped more improvements and new features than any other time in our history. Some of the products we’ve introduced are industry-defining, such as Portfolio Margin, Social Trading, Block Trading, OKX Wallet and a new NFT marketplace. We have obtained licenses from many countries around the world. What’s more, we are capturing the world’s attention as a strategic partner and sponsor to some of the biggest, most internationally recognizable names in the fields of sports and entertainment, like McLaren Racing, Manchester City and Tribeca Festival.

These recent achievements are testament to the exceptional talent we have at OKX. Our philosophy has always been to continuously recruit outstanding people from all over the world. But it is our ability to win as a team that makes OKX a world-leader in crypto, decentralized finance and web3.

How do we plan to grow during these market conditions?

We have a careful and deliberate hiring plan in place to ensure sustainable growth during this period. We are accelerating our recruitment with a plan to increase our global workforce by 30% and reach a total of 5,000 people within the next 12 months.

While we hire the best talent, we also value diversity and inclusion which is a fundamental part of OKX culture. We plan to be the first crypto exchange to have a balance of genders at the firm. Our current global leadership team includes 40% female staff and we are continuing to attract top talent from all walks of life, regardless of race or gender. This level of commitment to diversity is important to us toward creating a more inclusive financial system that creates a level playing field for all.

We also remain focused at OKX to make it easy for billions of people to access basic financial products, learn about crypto markets and how other forms of financial literacy can help generate wealth and financial freedom. We aspire to help creators, developers and storytellers dream big on web3 and help us all revolutionize the internet and the future of finance.

Come join us.

Your team at OKX.

Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.