Hong talks moving from Wall Street to crypto, her passion for Bitcoin, and why OKCoin is making it easy for people to get in (and out) of crypto
In this episode of Anthony Pompliano’s podcast, Hong chats with Pomp about what being a bridge for adoption means in today’s crypto industry. As CEO of OKCoin, she explains why she left Wall Street to be part of the creation of a new financial system. They discuss having a deep conviction for Bitcoin, how that has led OKCoin to create the Independent Developer Grant, and the future of crypto.
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Hong’s first hand experience with the societal impact of free markets
Hong was born in China the same year that free markets began to have an impact on Chinese society. The country was rapidly changing at the time, evolving towards becoming much more entrepreneurial. Hong witnessed how a free market society could release remarkable potential and productivity in China.
From traditional finance on Wall Street to cryptocurrency at OKCoin
Hong first heard of bitcoin in 2012 while at Goldman Sachs, but it was in 2016 that she realized its potential.
It was a deep interest in protocol development and the underlying incentive system of crypto that led Hong to get involved and invest in OKCoin. In particular, Bitcoin drew her in with its unique power combining technology and incentives to create the right structure for rewarding users in pursuing their own benefit. Soon, Hong was appointed CEO of the company.
How is OKCoin helping shape the future of crypto?
Today, OKCoin is focused on promoting adoption and empowering individuals, providing a bridge that gives easy access in and out of crypto. With an objective of making it easy for people to adopt and engage with cryptocurrencies, OKCoin has been focused on simplifying the overall customer experience. This means being in build mode, working to obtain additional state licenses across the United States and globally, and shipping product updates, like instant deposit.
An exchange with a passion for Bitcoin
While focused on building a growing crypto business, OKCoin supports the Bitcoin ethos and ecosystem. This means that we support users who both trade and hold their crypto. If everyone trades, then there’s no value accrual, and if everyone ‘hodls,’ then there’s no price discovery or liquidity. There is opportunity and need for both traders and investors.
Supporting Bitcoin development with the Independent Developer Grant program
At the core of OKCoin’s Developer Grant Program is the belief that crypto adoption is about the fundamentals. Bitcoin is the fundamental layer of the crypto industry and OKCoin is dedicated to sponsoring continuous development of the Bitcoin network. In doing this, OKCoin acts as a bridge between the developer community and crypto users, communicating the contributions of Bitcoin developers and shining a light on the state of development.