OKX

{{Short description|International, multi-language cryptocurrency exchange}}

{{for|the compilation album|Stereogum Presents... OKX: A Tribute to OK Computer}}

{{Use mdy dates|date=November 2017}}

{{Infobox company

| name = OKX

| logo = OKX_logo.svg

| logo_size =

| type = Privately held company

| industry = Cryptocurrency

| predecessor = Okcoin, OKEx

| founded = 2013

| founder = Star Xu

| hq_location_city = San Jose, California{{Cite web |last=Niksa |first=Matthew |date=2022-04-22 |title=Did crypto outfit just move to San Jose from SF? |url=https://therealdeal.com/san-francisco/2022/04/22/did-crypto-outfit-just-shift-hq-to-san-jose-from-san-francisco/ |access-date=2025-04-15 |website=The Real Deal |language=en}}

| hq_location_country = United States

| key_people = {{hlist|Star Xu (CEO)

|Haider Rafique (CMO)

|Jeff Ren (CIO)

|Hong Fang (President)}}

| products = Cryptocurrency Exchange, NFT Marketplace, OKX Wallet, Cryptocurrencies

| area_served = Worldwide

| owner =

| num_employees = 5,000+

| num_employees_year = 2025

| parent =

| website = {{URL|https://www.okx.com/}}

}}

OKX, formerly known as OKEx, is a San Jose-headquartered{{Cite web |last=Niksa |first=Matthew |date=2022-04-22 |title=Did crypto outfit just move to San Jose from SF? |url=https://therealdeal.com/san-francisco/2022/04/22/did-crypto-outfit-just-shift-hq-to-san-jose-from-san-francisco/ |access-date=2025-04-15 |website=The Real Deal |language=en}}{{Cite web |last=Weiss |first=Ben |title=OKX relaunches U.S. exchange one month after $500 million settlement with DOJ |url=https://fortune.com/crypto/2025/04/15/okx-relaunch-us-exchange-wallet-san-jose-california-new-ceo-roshan-robert/ |access-date=2025-04-16 |website=Fortune |language=en}}{{Cite web |date=April 26, 2022 |title=Cryptocurrency firm agrees to move to downtown San Jose office tower |url=https://www.mercurynews.com/2022/04/26/cryptocurrency-okcoin-lease-downtown-san-jose-office-tech-real-estate/}} blockchain technology company that operates the second-largest cryptocurrency exchange in terms of daily trading volume,{{Cite web |last=Birnbaum |first=Justin |date=June 30, 2023 |title=Defying Crypto Turmoil, Manchester City Signs $70 Million-Plus Sponsorship Deal With Exchange OKX |url=https://www.forbes.com/sites/justinbirnbaum/2023/06/30/defying-crypto-turmoil-manchester-city-signs-70-million-plus-sponsorship-deal-with-exchange-okx/ |access-date=2023-08-07 |website=Forbes |language=en}}{{Cite web |last=Melker |first=Scott |date=2024-06-24 |title=World's second-largest crypto exchange, OKX, eyes U.S. rebrand |url=https://www.thestreet.com/crypto/markets/worlds-second-largest-crypto-exchange-okx-eyes-us-rebrand |access-date=2025-04-15 |website=TheStreet |language=en}} and provides access to decentralized finance (DeFi) through its OKX Wallet.{{Cite web |last=Macheel |first=Tanaya |date=2025-04-16 |title=Global crypto exchange OKX pushes into U.S. market with trading and wallet offering |url=https://www.cnbc.com/2025/04/16/global-crypto-exchange-okx-pushes-into-us-market-with-trading-wallet-offering.html |access-date=2025-05-14 |website=CNBC |language=en}} The company was founded by CEO Star Xu in 2013 as Okcoin,{{Cite web |title=The China King of Bitcoin: Star Xu - PR Newswire APAC |url=https://en.prnasia.com/releases/global/The_China_King_of_Bitcoin_Star_Xu-98815.shtml |access-date=2025-05-19 |website=en.prnasia.com |language=en-us}} and later rebranded to OKX in 2017.

In addition to San Jose, the company has an office in New York in the United States, operates a regional headquarters for the Middle East in Dubai{{Cite web |last=Walker |first=Mark |date=2024-10-11 |title=OKX Launches Licensed Crypto Exchange in UAE Amid VARA's Regulatory Crackdown |url=https://thefintechtimes.com/okx-launches-licensed-crypto-exchange-in-uae-amid-varas-regulatory-crackdown/ |access-date=2025-05-14 |website=The Fintech Times |language=en-GB}}{{Cite web |date=2024-10-11 |title=OKX Launches Fully Licensed Platform for Retail and Institutional Investors in UAE |url=https://www.financemagnates.com/cryptocurrency/okx-launches-fully-licensed-platform-for-retail-and-institutional-investors-in-uae/ |access-date=2025-05-14 |website=Financial and Business News {{!}} Finance Magnates |language=en}} and has locations in Singapore,{{Cite web |date=2025-01-08 |title=OKX |url=https://fintechnews.sg/list-fintech-startup-singapore-fintech-companies-directory/fintech/okx/ |access-date=2025-05-14 |website=Fintech Singapore |language=en-US}} the Republic of Türkiye,{{Cite web |date=May 8, 2023 |title=OKX to Expand Global Presence with Türkiye Office |url=https://finance.yahoo.com/news/okx-expand-global-presence-t-110000240.html |website=Yahoo Finance}} Australia{{Cite web |last=Times |first=The Fintech |date=2024-05-14 |title=OKX Commits to Australian Crypto Market with Sydney Office and Local Expert Team |url=https://thefintechtimes.com/okx-commits-to-australian-crypto-market-with-sydney-office-and-local-expert-team/ |access-date=2025-05-14 |website=The Fintech Times |language=en-GB}}{{Cite web |date=2024-05-14 |title=OKX Finally Launches Crypto Services In Australia - FinanceFeeds |url=https://financefeeds.com/okx-finally-launches-crypto-services-in-australia/?ekit-blog-posts-paged=2 |access-date=2025-05-14 |language=en-US}} Brazil,{{Cite web |date=2023-11-27 |title=Crypto Exchange OKX Launches Web3 Wallet Service in Brazil {{!}} The Crypto Times |url=https://www.cryptotimes.io/2023/11/27/crypto-exchange-okx-launches-web3-wallet-service-in-brazil/ |access-date=2025-05-14 |website=www.cryptotimes.io |language=en-US}}{{Cite web |last=Bignell |first=Francis |date=2023-11-27 |title=OKX Tailors to Growing Crypto Desires in Brazil, Launching Exchange and Web3 Wallet |url=https://thefintechtimes.com/okx-tailors-to-growing-crypto-desires-in-brazil-launching-exchange-and-web3-wallet/ |access-date=2025-05-14 |website=The Fintech Times |language=en-GB}} and in the European Economic Area (EEA). OKX has more than 5,000 employees worldwide. One of the world's most regulatory compliant, licensed crypto companies,{{Cite web |date=2025-04-16 |title=OKX goes on the offensive in the US with new exchange, Web3 wallet and CEO |url=https://www.finextra.com/pressarticle/105253/okx-goes-on-the-offensive-in-the-us-with-new-exchange-web3-wallet-and-ceo |access-date=2025-05-14 |website=Finextra Research |language=en}} it holds licenses in the United States,{{Cite web |title=U.S. Licenses |url=https://www.okx.com/help/us-licenses |access-date=2025-05-14 |website=OKX |language=en}} the UAE,{{Cite news |last=Maccioni |first=Federico |date=January 16, 2024 |title=Crypto exchange OKX secures Dubai licence to target retail clients |url=https://www.reuters.com/business/finance/crypto-exchange-okx-secures-dubai-licence-target-retail-clients-2024-01-16/ |url-status=live |work=Reuters |pages=2}} the EU,{{Cite web |date=2025-01-27 |title=OKX and Crypto.com secure full MiCA licenses in European Union |url=https://cointelegraph.com/news/okx-crypto-com-secure-mica-licenses-eu |access-date=2025-05-14 |website=Cointelegraph |language=en}}{{Cite web |date=2025-01-27 |title=Crypto Exchange OKX Gains MiCA License as Bitcoin Dips Below $100K |url=https://www.financemagnates.com/cryptocurrency/crypto-exchange-okx-gains-eu-mica-license-as-bitcoin-dips-below-100k/ |access-date=2025-05-14 |website=Financial and Business News {{!}} Finance Magnates |language=en}} Singapore{{Cite web |last=Wei |first=Chong Xin |date=2024-09-02 |title=OKX Singapore gets major payment institution licence from MAS; taps former Grab executive as CEO |url=https://www.businesstimes.com.sg/startups-tech/okx-singapore-gets-major-payment-institution-licence-mas-taps-former-grab-executive-ceo |access-date=2025-05-14 |website=The Business Times |language=en}} and Australia,{{Cite web |last=Wang |first=Lynn |date=2025-04-30 |title=Australia’s Crypto Crossroads: OKX’s Kate Cooper on Regulation, Adoption, and What Comes Next |url=https://beincrypto.com/okx-kate-cooper-regulation-adoption/ |access-date=2025-05-14 |website=BeInCrypto |language=en-US}}{{Cite news |title=Crypto’s OKX Formally Unveils Australia Spot, Derivatives Units |url=https://news.bloomberglaw.com/crypto/cryptos-okx-formally-unveils-australia-spot-derivatives-units |archive-url=http://web.archive.org/web/20240515144647/https://news.bloomberglaw.com/crypto/cryptos-okx-formally-unveils-australia-spot-derivatives-units |archive-date=2024-05-15 |access-date=2025-05-14 |language=en}} as well as in other markets.

OKX has partnerships with brands and sports teams including Manchester City, McLaren, and the Tribeca Film Festival.{{cite web | last=Coffee | first=Patrick | title=Tribeca Festival Signs Crypto Trading Desk OKX as Its New Top Sponsor | website=WSJ | date=2022-06-01 | url=https://www.wsj.com/articles/tribeca-festival-signs-crypto-trading-desk-okx-as-its-new-top-sponsor-11654081202 | access-date=2023-10-10}}{{cite web | last=Goldsmith | first=Jill | title=Tribeca Festival 2022 Sets Crypto Platform OKX As New Presenting Sponsor | website=Deadline | date=2022-06-01 | url=https://deadline.com/2022/06/tribeca-festival-2022-crypto-platform-okx-presenting-sponsor-1235036462/ | access-date=2023-10-10}}

History

= 2013-2018: Company beginnings =

In 2013, Star Xu founded cryptocurrency exchange Okcoin,{{Cite web |last=WHub |title=About OKLink / OKCoin - WHub |url=https://whub.io/startups/oklink-technology |access-date=2025-05-15 |website=#startupPassion. 4,300+ Startups. Discover, Join,.}} which was later rebranded to OKX, which Xu officially launched in 2017 in Hong Kong.{{Cite web |last=Berger |first=Eric |date=10 January 2025 |title=‘Mild Mild West,’ the OKX short film bringing together the worlds of crypto and cinema |url=https://www.campaignlive.com/article/mild-mild-west-okx-short-film-bringing-together-worlds-crypto-cinema/1901965 |access-date=2025-04-15 |website=Campaign |language=en}} On April 11, 2018, the company announced its expansion to Malta, given the country's efforts to provide a sound regulatory framework for blockchain businesses and digital asset exchanges.{{Cite news|url=https://www.bloomberg.com/news/articles/2018-04-12/another-giant-cryptocurrency-exchange-is-moving-to-tiny-malta|title=Another Giant Cryptocurrency Exchange Is Moving To Tiny Malta|last=Tan|first=Andrea|website=Bloomberg|date=April 12, 2018 |access-date=11 August 2018}}

= 2018–2021: Exchange growth =

In May 2018, OKX became the world's largest cryptocurrency exchange by reported turnover.{{Cite news|url=https://www.bloomberg.com/news/articles/2018-05-14/okex-ceo-resigns-just-as-crypto-exchange-becomes-world-s-biggest|title=OKEx CEO Resigns Just as Crypto Exchange Becomes World's Biggest|last=Lam|first=Eric|website=Bloomberg|date=May 14, 2018 |access-date=8 January 2019}} In June 2018, the platform became one of the largest exchanges to launch and offer a cryptocurrency exchange white label service, where applicants must have solid industry experience and $2.5 million in their accounts.{{cite news |url=https://www.financemagnates.com/cryptocurrency/news/want-cryptocurrency-exchange-okex-launches-white-label-service/ |title=OKEx to Launch Cryptocurrency Exchange White Label Service |work=Finance Magnates |date=2018-06-20 |access-date=2020-08-17}}

According to Reuters, in February 2021, OKX saw its largest trading volume in history, up 26% from the previous month to $188 billion.{{cite news |url=https://www.reuters.com/article/us-crypto-currency-idUSKBN2AX14D |title=Cryptocurrency trading volumes spike 17% in February |work=Reuters |date=2021-03-05 |accessdate=2021-04-01}}

In June 2021, Baidu, Weibo, and other Chinese Internet platforms blocked keywords such as "OKEx", "Binance", and "Huobi".{{Cite web|title=Baidu, Weibo block keywords "Binance" "Huobi" "OKEx"|url=https://finance.eastmoney.com/a/202106091955679218.html |publisher=International Financial Times|date=June 10, 2021}} In October 2021, OKX, initially headquartered in Beijing, China,{{cite web |date=2021-09-27 |title=China bans virtual currency trading altogether |url=https://www.ndrc.gov.cn/fggz/gjhz/zywj/202109/t20210927_1297844_ext.html |website=National Development and Reform Commission}} announced that it would stop serving customers in Mainland China due to new regulations.{{cite web |last=Si |first=Linwei |date=2021-10-13 |title=OKEx Announces Maintaining "Exit from Mainland China" Policy |url=https://www.jiemian.com/article/6695821.html |website=Jiemian News}} Its founding team has since moved, with few outsourced personnel working in the region.{{cite web |date=December 7, 2021 |title=Huobi to stop trading for users in mainland China |url=https://www.zaobao.com.sg/realtime/china/story20211207-1220727 |website=Lianhe Zaobao}}

= 2022–2023: Rebrand and expansion =

In January 2022, OKEx rebranded to OKX.{{Cite web|title=OKX rebrands as cross-platform services provider|url=https://ibsintelligence.com/ibsi-news/okx-rebrands-as-cross-platform-services-provider/|access-date=2022-01-18|website=IBS Intelligence|language=en-US}} The rebrand was led by CMO Haider Rafique, and was part of the company's mission to be "the world's most beloved crypto exchange."{{Cite web |last=Thomas |first=Aby Sam |date=2022-11-11 |title=Going All In: Haider Rafique, Global Chief Marketing Officer, OKX |url=https://www.entrepreneur.com/en-ae/leadership/going-all-in-haider-rafique-global-chief-marketing/438952 |access-date=2025-04-15 |website=Entrepreneur |language=en}}

In March 2022, OKX rejected calls to ban Russian crypto trading.{{Cite web |last=PYMNTS |date=2022-03-02 |title=Binance, OKX Reject Ban on Russian Crypto |url=https://www.pymnts.com/cryptocurrency/2022/binance-okx-reject-calls-to-ban-russian-crypto-transactions/ |access-date=2022-03-19 |website=www.pymnts.com |language=en-US}} In July 2022, OKX received a provisional virtual asset license in Dubai, which would allow OKX to provide access to some products and services to investors in the United Arab Emirates.{{cite web |last=Al-Rashdan |first=Leen |title=Crypto Exchange OKX Gets Dubai License, Set to Open Hub in City |website=Bloomberg.com |date=2022-07-14 |url=https://www.bloomberg.com/news/articles/2022-07-14/crypto-exchange-okx-gets-dubai-license-set-to-open-hub-in-city |access-date=2023-02-14}}

In December 2022, The Bahamas Economic Affairs Minister Michael Halkitis announced that OKX plans to increase its staff in The Bahamas to roughly 100 employees over the next three years. OKX plans to use The Bahamas as a regional hub for investors within the Caribbean and Latin America.{{cite web|last=McKenzie|first=Natario|title=Crypto exchange OKX looking to increase staff to 100 over three years|website=Eye Witness News|date=2022-12-07|url=https://ewnews.com/crypto-exchange-okx-looking-to-increase-staff-to-100-over-three-years|access-date=2023-04-20}}

In January 2023, OKX released its proof of reserves report showing it has the largest clean asset reserves of all large crypto exchanges. The cleanliness of assets is a metric developed by CryptoQuant to measure the reliance of an exchange on its native token.{{Cite web|url=https://www.outlookindia.com/business/latest-crypto-news-okx-proof-of-reserves-report-shows-7-5-billion-crypto-leading-firm-genesis-planning-for-bankruptcy-news-254966|title=Latest Crypto News: OKX Proof-Of-Reserves Report Shows $7.5 Billion, Crypto Leading Firm Genesis Planning For Bankruptcy|date=January 19, 2023 }}{{Cite web|url=https://www.yahoo.com/now/okx-february-proof-reserves-report-080000100.html|title=OKX's February Proof-of-Reserves Report Shows $8.6B in 'Clean Assets'|website=www.yahoo.com|date=February 20, 2023 }}{{Cite web|url=https://markets.businessinsider.com/news/currencies/okxs-february-proof-of-reserves-report-shows-86b-in-clean-assets-1032108504|title=OKX's February Proof-of-Reserves Report Shows $8.6B in 'Clean Assets'|website=markets.businessinsider.com}}

In February 2023, OKX, along with other exchanges, applied for licenses in Hong Kong. The licenses are a new requirement to operate in the city that go into effect in June.{{Cite web|url=https://www.scmp.com/tech/tech-trends/article/3210963/crypto-exchanges-huobi-okx-eye-hong-kong-licences-regulators-ready-new-virtual-asset-rules|title=Crypto exchanges Huobi, OKX to apply for Hong Kong licences under new regime|date=February 21, 2023|website=South China Morning Post}} The new rulebook allows investors to trade larger tokens while offering safeguards like knowledge tests, appropriate risk profiling and reasonable limits on exposure.{{cite web | last=Wong | first=Kiuyan | title=Hong Kong Lets Retail Investors Trade Crypto in New Rules | website=Bloomberg.com | date=2023-05-23 | url=https://www.bloomberg.com/news/articles/2023-05-23/hong-kong-to-step-up-push-for-crypto-hub-in-contrast-with-clampdowns-in-asia | access-date=2023-06-15}} In an interview with Bloomberg, OKX President Hong Fang said OKX will continue building banking relationships in Hong Kong and different jurisdictions. According to Fang, OKX's business strategy will focus on building technology and maintaining long-term consistency instead of short-term trading profit.{{cite web | title=OKX on Business Expansion Plans | website=Bloomberg | date=2023-04-12 | url=https://www.bloomberg.com/news/videos/2023-04-12/okx-on-business-expansion-plans-video | access-date=2023-06-15}}

In March 2023, OKX applied for a virtual asset license in Hong Kong, two months before the city officially made crypto trading fully legal.{{cite web | last=Pan | first=Che | title=Cryptocurrency exchange OKX to apply for virtual asset licence in Hong Kong as city overhauls regulations South China Morning Post | website=South China Morning Post | date=2023-03-29 | url=https://www.scmp.com/tech/big-tech/article/3215123/cryptocurrency-exchange-okx-apply-virtual-asset-licence-hong-kong-city-overhauls-regulations | access-date=2023-07-25}} OKX also announced plans to open an office in Australia.{{Cn|date=December 2023}}

In April 2023, OKX joined Copper's ClearLoop Platform, allowing Copper's clients to trade on the OKX exchange while their digital assets remain within Copper’s infrastructure.{{cite web | last=Canny | first=Will | title=Crypto Custodian Copper Partners With OKX to Provide Off-Exchange Settlements | website=Yahoo Finance | date=2023-04-03 | url=https://finance.yahoo.com/news/crypto-custodian-copper-partners-okx-152919518.html | access-date=2023-07-03}} In April 2023, OKX incorporated in France and has since announced plans to build out its European hub in Paris.{{cite web | last=Nicolle | first=Emily | title=Crypto Exchange OKX Sets Up Shop in Paris, Seeks Regulatory Approval | website=Bloomberg | date=2023-05-23 | url=https://www.bloomberg.com/news/articles/2023-05-23/okx-sets-up-shop-in-paris-seeks-regulatory-approval | access-date=2023-07-03}} In April 2023, OKX enabled the viewing and transfer of Bitcoin Ordinals (NFTs with data such as images or videos attached) within the OKX wallet.{{cite web |last=Lepitak |first=Stephen |date=2023-05-10 |title=With New Ad, OKX CMO Outlines Plan to Rebuild Crypto Trust |url=https://www.adweek.com/brand-marketing/crypto-exchange-okx-financial-system-rewrite/ |access-date=2023-06-15 |website=Adweek}}

In May 2023, OKX announced that it plans to open an office in Turkey in the coming months.{{cite web | title=OKX to Expand Global Presence with Türkiye Office | website=Yahoo Finance | date=2023-05-08 | url=https://finance.yahoo.com/news/okx-expand-global-presence-t-110000240.html | access-date=2023-07-25}}

In June 2023, OKX became the first client to use Komainu Connect, a Nomura-backed regulated settlement and custody system that offers 24/7 trading.{{cite web | last=Allison | first=Ian | title=OKX Chooses Nomura-Backed Crypto Storage Firm Komainu as Custodian | website=markets.businessinsider.com | date=2023-06-06 | url=https://markets.businessinsider.com/news/currencies/okx-chooses-nomura-backed-crypto-storage-firm-komainu-as-custodian-1032372085 | access-date=2023-07-25}} OKX received a license to offer spot trading in Dubai.{{cite web | last=Ortiz | first=Jenny | title=OKX crypto exchange to be operational in Dubai within the year, says executive | website=Yahoo Finance | date=2023-06-23 | url=https://finance.yahoo.com/news/okx-crypto-exchange-operational-dubai-120051838.html | access-date=2023-07-25}}

In July 2023, OKX's offshore market share rose to 11%, nearly doubling from January.{{cite web | last=Yang | first=Yueqi | title=Binance's Lead in Offshore Market Share Shrinks as Rivals Gain Ground | website=Bloomberg.com | date=2023-07-18 | url=https://www.bloomberg.com/news/articles/2023-07-18/binance-s-lead-in-offshore-market-share-falls-as-rivals-gain-ground | access-date=2023-09-05}}

In August 2023, Hong Kong began issuing licenses under a new system to regulate crypto exchanges offering trading in tokens like Bitcoin and Ethereum. OKX has reported it will apply for a license.{{cite web | last=Droulers | first=Annabelle | title=Why Hong Kong Wants to Be a Hub for the Crypto Sector | website=Bloomberg.com | date=2023-07-05 | url=https://www.bloomberg.com/news/articles/2023-07-05/why-hong-kong-wants-to-be-a-hub-for-the-crypto-sector | access-date=2023-09-05}} OKX also partnered with CoinRoutes to provide clients with a full range of API-enabled trading services. The CoinRoutes interface measures trading performance using algorithms, market data, and a proprietary transaction cost analysis feature.{{cite web | last=Steves | first=Rick | title=OKX's institutional clients can now trade via CoinRoutes for best execution | website=FinanceFeeds | date=2023-08-18 | url=https://financefeeds.com/okxs-institutional-clients-can-now-trade-via-coinroutes-for-best-execution/ | access-date=2023-09-05}}{{cite web | last=Kirui | first=Jared | title=OKX and CoinRoutes Join Forces | website=Financial and Business News | date=2023-08-17 | url=https://www.financemagnates.com/cryptocurrency/okx-and-coinroutes-alliance-join-forces-to-power-institutional-crypto-trading/ | access-date=2023-09-05}}

In September 2023, OKX published its eleventh Proof of Reserve (PoR) report. The report shows the exchange holds a BTC reserve ratio of 102%. It also discloses the collateralization ratios for Bitcoin, Ethereum, Tether, and USD Coin (USDC) deposits.{{cite web | title=OKX Proof of Reserves Ranked Highest Quality Among Major Exchanges as 11th Consecutive Monthly Reserves Report is Published | website=Yahoo Finance | date=2023-09-26 | url=https://finance.yahoo.com/news/okx-proof-reserves-ranked-highest-080000367.html | access-date=2023-10-10}}

= 2024–2025=

In November 2024, OKX announced that they would be offering instant denominated deposits and withdrawals in Singapore dollars to Singaporeans, with the funds transfer service facilitated by DBS Group.{{Cite web |agency=Reuters |date=2024-11-18 |title=Crypto exchange OKX launches Singapore dollar funds transfer service for local customers {{!}} New Straits Times |url=https://www.nst.com.my/business/corporate/2024/11/1136084/crypto-exchange-okx-launches-singapore-dollar-funds-transfer |access-date=2024-11-18 |website=NST Online |language=en}}

In early 2025, OKX produced Mild Mild West, a short film, in partnership with Tribeca Film Festival and Darren Aronofsky. Due to acquiring several regulatory licenses, OKX was ranked by Forbes as one of "The World’s Most Trustworthy Crypto Exchanges."{{Cite web |last=Paz |first=Javier |date=28 January 2025 |title=The World’s Most Trustworthy Crypto Exchanges |url=https://www.forbes.com/sites/javierpaz/2025/01/28/the-worlds-most-trustworthy-crypto-exchanges/ |access-date=2025-04-15 |website=Forbes |language=en}} It relaunched in the United States in April 2025 and relocated its headquarters to San Jose.

Sponsorship and advertising

In March 2022, Manchester City announced a partnership with OKX as their official cryptocurrency partner{{Cite web |last=Birnbaum |first=Justin |title=Manchester City Announces Multimillion-Dollar Deal With Crypto Exchange OKX |url=https://www.forbes.com/sites/justinbirnbaum/2022/03/04/manchester-city-announces-multimillion-dollar-deal-with-crypto-exchange-okx/ |access-date=2022-03-19 |website=Forbes |language=en}}{{Cite web |date=2022-03-07 |title=Manchester City sign 'multimillion dollar' OKX crypto exchange deal |url=https://www.sportspromedia.com/news/manchester-city-okx-cryptocurrency-exchange-sponsorship-3key/ |access-date=2022-03-19 |website=SportsPro |language=en-GB}} and later in July, as the training kit sponsor for the men's and women's team.{{Cite web |date=2022-07-11 |title=OKX becomes Training Kit Partner of Manchester City |url=https://www.mancity.com/news/club/OKX%20becomes%20Training%20Kit%20Partner%20of%20Manchester%20City |access-date= |website=Manchester City FC |language=en}} In February 2023, OKX announced a partnership with Manchester City players İlkay Gündoğan, Jack Grealish, Rúben Dias and Alex Greenwood to endorse a new fan offering based on exclusive ‘immersive metaverse experiences’ for the rest of the season.{{Cite web |last=Glendinning |first=Matthew |date=2023-02-02 |title=OKX adds new 'metaverse experiences' offering to City sponsorship |url=https://www.sportbusiness.com/news/okx-adds-new-metaverse-experiences-offering-to-city-sponsorship/ |access-date=2023-07-06 |website=SportBusiness |language=en-US}} In July 2023, OKX signed a new deal reportedly worth £55 million over three years to replace Nexen Tire as Manchester City's new shirt sleeve sponsor.{{Cite web |last=Sim |first=Josh |date=2023-07-03 |title=Manchester City upgrade OKX deal with 'UK£55m' sleeve partnership |url=https://www.sportspromedia.com/news/manchester-city-okx-sleeve-partner-web3-cryptocurrency-sponsorship-deal/ |access-date=2023-07-06 |website=SportsPro |language=en-GB}}

In May 2022, OKX signed a multi-year sponsorship deal with McLaren as a primary partner.{{cite web |title=McLaren Racing announces OKX as a Primary Partner of McLaren Formula 1 Team |url=https://www.mclaren.com/racing/partners/okx/mclaren-racing-announces-okx-a-primary-partner-mclaren-formula-1-team/ |access-date=7 May 2022 |website=McLaren Racing}} In September of the same year, OKX and McLaren unveiled a cyberpunk-inspired livery by enhancing the iconic Fluro Papaya colorway with flourishes of pink and cyberpunk-inspired engine illustrations for the 2022 Singapore and Japanese Grands Prix.{{Cite web |date=2022-09-27 |title=OKX and McLaren Racing Unveil Cyberpunk-Inspired "Future Mode" Livery |url=https://hypebeast.com/2022/9/okx-mclaren-racing-future-mode-livery-unveil-info |access-date= |website=Hypebeast}} The sponsorship deal was expanded in March 2023, making OKX an official primary partner of McLaren. The expanded deal includes increased branding presence on the McLaren F1 Team's race cars and OKX supporting the McLaren Shadow esports team.{{Cite web |date=2023-03-30 |title=McLaren Racing announces expansion with Official Primary Partner OKX |url=https://www.mclaren.com/racing/formula-1/2023/mclaren-racing-announces-expansion-with-official-primary-partner-okx/ |access-date= |website=www.mclaren.com |language=en-GB}} OKX partnered with McLaren to race a "stealth mode" livery that switches McLaren’s usual colourway and augmenting black against their classic papaya trim for the 2023 Singapore and Japanese Grand Prix.{{Cite web |date=2023-09-13 |title=McLaren unveil 'Stealth Mode' livery for Singapore and Japan |url=https://www.formula1.com/en/latest/article.mclaren-reveal-stealth-mode-car-livery-for-singapore-and-japan-races.6bisW0mQphTTeYPKJAZU0k.html |access-date=2023-09-18 |website=www.formula1.com |language=en}}{{Cite web |last=Kalinauckas |first=Alex |date=2023-09-13 |title=McLaren reveals F1 livery change for Singapore and Japan |url=https://www.motorsport.com/f1/news/mclaren-reveals-f1-livery-change-for-singapore-and-japan/10519632/ |access-date=2023-09-18 |website=www.motorsport.com |language=en}}

Furthermore, OKX made its strong first time appearance in the 2025 Dakar Rally as Guerlain Chicherit and Alex Winocq secured the second place on the stage 1 and stage 3. {{Cite web |title=Guerlain Chicherit |url=https://www.x-raid.de/en/driver/guerlain-chicherit/ |access-date=2025-02-27 |website=X-raid Team |language=en-GB}}{{Cite web |title=Instagram |url=https://www.instagram.com/gchicherit/ |access-date=2025-02-27 |website=www.instagram.com}}{{Cite web |title=Rallye Dakar 2025: Chicherit gewinnt Etappe 1, Topstars bremsen bewusst |url=https://de.motorsport.com/dakar/news/rallye-dakar-2025-chicherit-gewinnt-etappe-1-topstars-bremsen-bewusst-25010402/3420669/}}{{Cite web |last=Helder |date=2025-01-04 |title=Dakar 2025: SS1 - Second Place for Chicherit in the MINI JCW Rally 3.0i |url=https://www.rallyraidnetwork.com/2023/index.php/racing-news/dakar/dakar-news/dakar-2025-ss1-second-place-for-chicherit-in-the-mini-jcw-rally-3-0i.html |access-date=2025-02-27 |website=www.rallyraidnetwork.com |language=en-gb}}{{Cite web |title=Guerlain Chicherit: “We wanted to try to win the stage” |url=https://www.dakar.com/en/news/2025/stage-3/car/guerlain-chicherit-we-wanted-to-try-to-win-the-stage/193694 |access-date=2025-02-27 |website=www.dakar.com |language=en}}{{Cite web |last=Casaurang |first=Medhi |date=2025-01-11 |title=Dakar 2025 - Étape 6 : Abandon pour Guerlain Chicherit et Alex Winocq ! |url=https://www.autohebdo.fr/actualites/autres-courses/rallye-raid/dakar/dakar-2025-etape-6-abandon-pour-guerlain-chicherit-et-alex-winocq.html |access-date=2025-02-27 |website=AutoHebdo |language=fr-FR}}

Tribeca Festival signed OKX as its new top sponsor in June 2022.{{cite web |last=Coffee |first=Patrick |date=2022-06-01 |title=Tribeca Festival Signs Crypto Trading Desk OKX as Its New Top Sponsor |url=https://www.wsj.com/articles/tribeca-festival-signs-crypto-trading-desk-okx-as-its-new-top-sponsor-11654081202 |access-date=2023-02-14 |website=WSJ}} At Tribeca events, OKX holds exclusivity for non-fungible token (NFT) marketplaces, cryptocurrency exchanges, usage of social tokens, and De-Fi and Game Fi trading categories.{{Cite web |last=Goldsmith |first=Jill |date=June 1, 2022 |title=Tribeca Festival 2022 Sets Crypto Platform OKX As New Presenting Sponsor |url=https://deadline.com/2022/06/tribeca-festival-2022-crypto-platform-okx-presenting-sponsor-1235036462/}}

OKX is sponsoring the Tribeca Film Festival again in 2023. In 2023, OKX created a "Tribeca Festival NFT Pass" and an "NFT Lab" for attendees. The "NFT Lab" allows people to mint their own NFTs and make an NFT for free using generative AI.{{cite web | last=Swant | first=Marty | title=Why crypto company OKX is sponsoring the Tribeca Film Festival | website=Digiday | date=2023-06-14 | url=https://digiday.com/marketing/why-crypto-exchange-okx-is-sponsoring-the-tribeca-film-festival/ | access-date=2023-09-05}}

OKX debuted a multi-million dollar brand campaign in September 2022. The "What is OKX?" campaign featured professional football manager Pep Guardiola, Formula 1 driver Daniel Ricciardo and Olympic snowboarder Scotty James. The campaign’s focus was to expand awareness of OKX beyond Asia.{{Cite web |date=September 8, 2022 |title=Crypto exchange OKX hints at Super Bowl plans as it launches its first global ad campaign |url=https://adage.com/article/digital-marketing-ad-tech-news/crypto-exchange-okx-hints-super-bowl-plans-launches-first-global-ad-campaign/2428476 |website=Ad Age}}

OKX has also partnered with the Australian Olympic Team.{{cite web |last=Lepitak |first=Stephen |date=2022-09-08 |title=OKX Aims for Awareness in Global Cryptocurrency Brand Campaign |url=https://www.adweek.com/brand-marketing/what-is-okx-asks-global-cryptocurrency-brand-campaign/ |access-date=2023-02-14 |website=Adweek}}

In June 2023, OKX signed a sponsorship deal with LIV Golf team Majesticks GC through the 2024 season.{{Cite web |last=Harig |first=Bob |date=2023-06-21 |title=Ian Poulter's LIV Golf Team Secures Sponsorship With Crypto Exchange Company |url=https://www.si.com/golf/news/ian-poulter-liv-golf-team-secures-sponsorship-crypto-exchange-company |access-date=2023-07-06 |website=Sports Illustrated Golf: News, Scores, Equipment, Instruction, Travel, Courses |language=en}}

Criticism and controversies

On July 30, 2018, a trader reportedly bought bitcoin futures with a $416 million notional value on margin before being forced by the exchange to liquidate his position at a large loss. The exchange injected 2,500 Bitcoins—worth about $18 million at the time—into an insurance fund to help minimize the impact on clients. However, to cover for the outstanding amount, traders who had made an unrealized profit during the previous week still had to pay a clawback rate of 17 percent, the so-called "socialized clawback".{{cite news |last1=Robertson |first1=Benjamin |last2=Tan |first2=Andrea |last3=Nakamura |first3=Yuki |title=Bitcoin Whale's Bad Trade Leaves Counterparties Holding the Bag |url=https://www.bloomberg.com/news/articles/2018-08-03/a-massive-losing-bet-on-bitcoin-futures-has-investors-buzzing |access-date=3 August 2018 |work=Bloomberg News |date=3 August 2018}}

On October 16, 2020 OKX temporarily suspended withdrawals as the founder cooperated with a police investigation.{{Cite web |title=Exclusive: OKEx Suspends Cryptocurrency Withdrawals - Caixin Global |url=https://www.caixinglobal.com/2020-10-17/exclusive-okex-suspends-cryptocurrency-withdrawals-101615674.html |access-date=2023-08-07 |website=www.caixinglobal.com |language=en}}{{Cite web |title=China's OKEx suspends cryptocurrency withdrawals |url=https://asia.nikkei.com/Spotlight/Caixin/China-s-OKEx-suspends-cryptocurrency-withdrawals |access-date=2023-08-07 |website=Nikkei Asia |language=en-GB}} On November 19, 2020 OKX announced that withdrawals would reopen and will resume on or before November 27.{{cite news |url=https://www.bloomberg.com/news/articles/2020-11-19/crypto-exchange-okex-to-resume-withdrawals-as-issue-resolved |work=Bloomberg News |date=2020-11-19 |title=Chinese Crypto Mogul Emerges After Probe That Forced OKEx Halt| archive-url=https://archive.today/20210626194057/https://www.bloomberg.com/news/articles/2020-11-19/crypto-exchange-okex-to-resume-withdrawals-as-issue-resolved | archive-date=2021-06-26 | url-status=live|author=Joanna Ossinger and Zheping Huang}}

See also

References

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