Former OKX CEO Joins Huobi: A Strategic Move in the Crypto Industry

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The cryptocurrency industry is no stranger to rapid shifts and high-profile moves, but few have generated as much buzz as the recent appointment of Jay Hao (Li Shufei), former CEO of OKX, to a key leadership role at Huobi. In a move that underscores the intensifying competition among major crypto exchanges, Hao has officially joined Huobi Group as Secretary of the Board and Vice President of International Business Development.

In this position, he will oversee board operations, lead financing and merger initiatives, and drive the expansion of Huobi’s global footprint through strategic team building and market entry. His appointment marks a pivotal moment for Huobi as it seeks to strengthen its executive bench and accelerate international growth amid a maturing digital asset landscape.

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Background and Career Trajectory

Before joining Huobi, Jay Hao held prominent roles in both traditional finance and the blockchain space. He previously served as CFO of PAX Global Technology (HK0327), a Hong Kong-listed fintech firm, before transitioning into the crypto world with OKCoin Group. At OKX — one of the world’s leading cryptocurrency exchanges — he held dual roles as CFO and later CEO, guiding the platform through periods of regulatory scrutiny, product innovation, and global expansion.

His deep expertise spans financial strategy, corporate governance, and international compliance — skills that are increasingly critical as exchanges navigate complex regulatory environments across Asia, Europe, and North America.

Market Reaction: Immediate Surge in Exchange Tokens

News of Hao’s appointment triggered an immediate reaction in the crypto markets. Within hours of the announcement, OKB — the native utility token of OKX — rose sharply from $4.64 to $5.17, marking an 11.4% increase. Similarly, Huobi Token (HT) climbed from $4.62 to $4.78, reflecting growing investor confidence in Huobi’s strategic direction.

This market response highlights how leadership changes can significantly influence sentiment and valuation in the blockchain sector, where trust, experience, and vision are closely tied to platform credibility.

Confirmation from Huobi Leadership

Huobi founder and chairman Leon Li confirmed the hiring via social media shortly after 10:16 AM on the day of the announcement. In his post, Li praised Hao’s extensive background in banking, investment, and public company management, describing him as a seasoned expert in FinTech and blockchain innovation.

“Given the speed of development in our industry — where one day feels like a year — we moved quickly to secure Jay’s partnership,” Li wrote. “His leadership experience will be a vital asset for our long-term strategy.”

The swift collaboration suggests that discussions began almost immediately after Hao’s departure from OKX, indicating pre-existing alignment between the two executives on future opportunities in decentralized finance and global exchange infrastructure.

Response from OKX Founder Star Xu

Meanwhile, Star Xu, founder of OKX, acknowledged Hao’s exit on social media, stating that the resignation was unexpected and handled without prior notice. He noted that the matter would be reviewed by legal counsel, though he did not elaborate on potential implications or disputes.

Hao had publicly announced his departure a week earlier, stepping down from all roles including CEO of OKX and CFO of OKC Group. On May 15, he offered further clarification: “I wanted to explore new possibilities while I’m still young — so I made a clean break.” When asked about future plans, he added thoughtfully: “Perhaps one day, Star Xu and I will compete in the same market — but it will be a fair and respectful rivalry. Or maybe we’ll work together again.”

This balanced perspective reflects the evolving nature of professional relationships in the blockchain ecosystem — where competition and collaboration often coexist.

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Strategic Implications for Huobi

Hao’s hiring signals Huobi’s intent to reassert itself as a dominant player in the global crypto exchange arena. With increasing pressure from competitors like Binance, Bybit, and KuCoin — as well as regulatory challenges in key markets — attracting top-tier talent is essential for sustained innovation and operational resilience.

His responsibilities will likely include:

These efforts align with broader trends in the industry: institutional adoption, geographic diversification, and platform scalability.

Frequently Asked Questions (FAQ)

Q: Why did Jay Hao leave OKX?
A: According to his public statement, Hao left to explore new opportunities while still early in his career. He described it as a deliberate decision to “cut ties cleanly” and consider alternative paths in the blockchain space.

Q: What does Jay Hao’s role at Huobi entail?
A: He serves as Secretary of the Board and Vice President of International Business Development. His duties include managing board affairs, leading financing and M&A activities, and expanding Huobi’s global operations.

Q: How did the market react to Hao’s move?
A: Both OKB and HT saw notable price increases following the announcement — a sign of positive market sentiment toward executive mobility in the crypto industry.

Q: Is there any conflict between Jay Hao and Star Xu?
A: While Xu expressed surprise at the sudden resignation, there has been no public indication of personal or legal conflict. Hao himself referred to their potential future dynamic as a “gentleman’s competition” or even renewed collaboration.

Q: What are Huobi’s strategic goals with this hire?
A: The appointment strengthens Huobi’s leadership team ahead of planned international expansion, regulatory compliance improvements, and institutional service development.

Q: Will Jay Hao influence Huobi’s product offerings?
A: Given his background in platform operations and financial infrastructure, it’s likely he’ll play a role in shaping Huobi’s trading systems, tokenomics, and institutional solutions.

The Bigger Picture: Talent Mobility in Blockchain

The movement of executives like Jay Hao reflects a maturing industry where leadership expertise is becoming a differentiator. Unlike earlier days when crypto projects were driven primarily by technical founders, today’s platforms require seasoned professionals who understand capital markets, risk management, and global operations.

As exchanges evolve into full-service financial ecosystems — offering spot trading, derivatives, staking, lending, NFTs, and Web3 access — having leaders with cross-industry experience becomes crucial.

👉 Learn what makes top crypto platforms resilient in competitive markets.

Jay Hao’s transition from OKX to Huobi is more than just a job change — it’s a strategic recalibration in the ongoing race for dominance in decentralized finance. Whether this leads to intensified competition or unexpected collaboration down the line remains to be seen. But one thing is clear: talent is now one of the most valuable assets in the blockchain economy.

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