The recent volatility in the crypto market has made liquidity a major concern. Against this backdrop, users are paying closer attention to the actions of exchanges. Jinse Finance conducted an exclusive interview with Molly of Huobi HTX. Molly discussed investment products that ordinary investors should focus on, explored the core mission of cryptocurrency exchanges, and shared the secrets behind Huobi HTX's continued progress over the past 12 years, highlighting its ongoing efforts towards becoming one of the "Big Three." In the process of combining crypto technology with traditional finance, it's crucial to consider the essence of crypto technology, what problems it can solve, and ultimately, the formation of a value loop to generate genuine liquidity. An exchange without the determination to become a top-tier exchange has no future. Therefore, Huobi HTX aspires to be among the top, and only with this ambition will it hold itself to the highest standards. Winning the trust of users should always be the top priority. We need to continuously iterate and optimize the user feedback system to respond promptly to various user issues. "People's Exchange" is a very grand goal, but it cannot be mechanically implemented. We need to establish an effective implementation mechanism and give ourselves opportunities to learn from mistakes. Although this goal has not yet been fully achieved, we are willing to spend more time making it a reality. Huobi HTX not only wants to be everyone's first love, but also their lifelong companion. Golden Finance: The current market is full of "uncertainty." In your opinion, in this environment, where are the "certain" opportunities that businesses and individuals should focus on most? What are the core variables that ordinary investors should focus on most? Molly: Currently, the crypto market is in a period of volatility, and global cryptocurrency regulatory policies and crypto application technologies are still in the process of breakthrough. Ordinary investors should look for investment products that can bring stable returns. For example, Huobi HTX has launched BTC, TRX, and some stablecoin earning activities. Huobi Earn has launched a limited-time USDD interest rate hike event. During the event, users who subscribe to USDD flexible deposits can enjoy an annualized return of up to 12%. On the one hand, users avoid large market fluctuations through this investment method; on the other hand, users can continuously enjoy stable returns, truly bringing benefits to users.
Golden Finance: Cryptocurrencies, due to their high sensitivity to liquidity, have become a bellwether for the Federal Reserve's policy shift. How do you view the linkage between the global liquidity cycle (such as expectations of interest rate cuts) and the crypto market, especially with the development of Huobi HTX business?
Molly: This year, I not only came into contact with industry professionals but also with many practitioners from the traditional financial industry. Large investors and institutional investors in traditional industries also value whether the crypto industry can bring them liquidity, especially during the RWA boom, when they hoped that the crypto industry could bring wealth creation opportunities to traditional industries. At the same time, industry professionals are also eager to obtain liquidity from the traditional financial industry to build the crypto industry. Therefore, practitioners in both traditional finance and the crypto industry expect each other to provide them with liquidity. However, the RWA narrative this year hasn't developed ideally because we've only understood RWA as the tokenization of traditional financial assets, without actually implementing it in real-world applications. Very few users and institutions have truly benefited from the RWA sector. Everyone just wants to leverage each other's liquidity, not genuinely build a financial system based on blockchain technology. Therefore, I believe that in the process of combining crypto technology with traditional finance, we need to consider the essence of crypto technology, what problems it can solve, and ultimately, only after forming a value loop can it bring real liquidity. Jinse Finance: In your opinion, what should be the core mission of a cryptocurrency exchange at this stage? What kind of exchange does Huobi HTX want to become? Is it a high-speed gateway pursuing trading volume, an empowering platform for users, or some other role? Molly: Exchanges must remain clear-headed; how the outside world views us is extremely important. Exchanges should consider: what message do we convey to the outside world that will make them believe that the cryptocurrency community is hopeful and worth spreading? The current crypto industry is largely focused on getting rich overnight, lacking long-term development and a positive narrative. For exchanges, on the one hand, they need to provide high-quality services to their clients; on the other hand, they need to maintain a clear head and be responsible crypto companies. The reason Huobi HTX's new assets have stood out is that each asset is rigorously screened by global advisor Justin Sun and a professional asset team, with popularity, potential, and community strength as the three key factors. Therefore, new assets listed on Huobi HTX possess genuine investment value, allowing users to invest with confidence. This is why Huobi HTX has experienced net capital inflows this year and boasts industry-leading user growth. Therefore, exchanges must balance profitability and social responsibility, adhering to a long-term perspective. Only with a more prosperous industry can companies go further. Jinse Finance: A widely discussed event is that World Liberty Financial (WLFI), owned by the Trump family, did not choose the largest exchange or a US exchange, but instead launched its compliant stablecoin USD1 and its points program globally on Huobi HTX. In your opinion, what did WLFI value most about Huobi HTX in making this decision? Was it our user base in a specific region, our compliance progress, or other unique platform value? Molly: The first reason the Trump family project chose us is that new assets on Huobi HTX can withstand market scrutiny. First, rigorously selected new assets will not have fundamental problems or rug pull issues; second, we will provide liquidity to support the healthy development of the project. The second reason is that Huobi HTX and Sun Ge (Sun's CEO) will wholeheartedly support project development, and the platform will do its best to help whenever a project or community encounters a downturn. Following the global launch of the stablecoin USD1 and its points program from the Trump family project on Huobi HTX, Huobi HTX first leveraged its strong influence to promote the project. Trump's son, the chairman of WLFI, and Changpeng Zhao all shared related news. Secondly, we provided a 20% interest rate subsidy to promote the project among users, encouraging them to hold and trade online. Therefore, I believe Huobi HTX's good reputation and ability to incubate projects on its platform attracted the Trump family project's attention, ultimately leading them to choose Huobi HTX for the global launch of their assets. Golden Finance: Huobi HTX is a 12-year-old established exchange that has weathered multiple bull and bear market cycles. What survival experience can Huobi HTX share? Molly: First and foremost, users come first. After 12 years of ups and downs, the most important survival experience we've summarized is: always prioritize winning the trust of users. We need to establish a comprehensive user feedback system to respond promptly to various user issues. Huobi HTX also experienced its darkest period. During that time, a lack of user maintenance and confidence building severely damaged Huobi HTX's foundation. This experience taught us a profound lesson: even with past glories, if user trust is lost, everything will vanish. Therefore, from 2023 to the present, we have spent over two years rebuilding, and we will continue this rebuilding journey. Winning back users who have developed trading habits on other platforms is difficult, and users need more time to assess whether a platform is trustworthy. Secondly, when designing event content, we must be user-centric, finding a suitable balance between user experience and platform costs. Finally, how the platform supports users when encountering critical issues is also crucial. When an exchange truly needs to take responsibility, maintaining user trust must always be the top priority. Golden Finance: We must face a direct question: In many people's minds, is Huobi still one of the "Big Three"? If not, how do you view the loss of this label? If so, besides historical accumulation, what concrete market data and industry rankings since 2025 support Huobi HTX's continued position among the world's top exchanges? Molly: Users may have different perceptions and definitions of the "Big Three." But for Huobi HTX, we are always on the move, striving towards higher goals. An exchange without the determination to become a top exchange has no future. Therefore, Huobi HTX desperately wants to be among the top, and only when you aspire to be top-tier will you hold yourself to the highest standards. So, how does one become top-tier? First, ensuring platform security and compliance is paramount. The platform has publicly disclosed over 100% asset reserve verification for 38 consecutive months, with USDT and USDC reserves nearly doubling this month, establishing a comprehensive reputation for security. Second, attracting a large user base is crucial. We will use more activities to attract retail and institutional investors. Third, prioritizing product experience is essential, making using Huobi HTX an enjoyable experience. However, Huobi HTX still has room for improvement in product experience and development depth. We will continue to iterate and update the product based on user feedback. Finally, we aim for a stellar reputation within the industry. Whether Huobi HTX remains one of the top three platforms is for users to judge, but regardless, we will hold ourselves to the standards of the top three.
Golden Finance: In your mind, what exactly should an ideal and humane crypto-financial world look like? How is Huobi HTX making this a reality?
Molly: First, all traders hope for a more transparent and efficient platform. I've often mentioned "People's Exchange" before, and my understanding of it has evolved as we strive towards this goal. Initially, I understood it as "users having the final say," but we later realized that blindly following the crowd has its drawbacks. This is because users often focus on short-term gains. However, we understand that a token without real-world use cases lacks long-term value. We need to identify genuine user needs and find a balance between centralization and decentralization. For example, Huobi HTX once used a voting mechanism to decide whether to list a certain token, but we later discovered that this was prone to corruption and bribery. Project teams, colluding with insiders and large external clients, monopolized voting power to exploit users, ultimately contradicting Huobi HTX's original intention to be a "People's Exchange." After practical exploration, we changed users' "listing rights" to "recommendation rights," which allows users to discover high-quality projects while avoiding information asymmetry. Secondly, platforms must know how to correct and admit mistakes. Even if our intentions are good, we may still go against the actual needs of users. In such cases, we need to stop immediately. In short, "People's Exchange" is a very ambitious goal, but it cannot be implemented mechanically. An effective mechanism for its advancement must be established, allowing for trial and error. Although this goal has not yet been fully achieved, we are willing to spend more time making it a reality. Jinse Finance: Many centralized exchanges (CEXs) are evolving from simple trading venues into diversified businesses encompassing custody, staking, and yield products, while decentralized exchanges (DEXs) are also rapidly gaining market share. In your opinion, will CEXs and DEXs be competitors or partners in the future? How will Huobi HTX position its role in this? Molly: I believe that "existence is its own justification." Since centralized and decentralized exchanges coexist, it means they are meeting different user needs. Therefore, as a centralized exchange, Huobi HTX needs to adhere to its core responsibilities and play its role well. Decentralized exchanges and centralized exchanges each have their own strengths and weaknesses. For example, centralized exchanges are more compliant with regulatory frameworks and have advantages in security and compliance, and they screen projects for users. Decentralized exchanges are more transparent, but also carry higher risks. Therefore, regardless of the type of exchange, it should play its role well and face its own challenges. Huobi HTX, as a leading centralized exchange, should play a constructive role in the industry and lead users to jointly promote industry progress. Jinse Finance: If you were to say one core message to Huobi HTX users, what would it be? Molly: Huobi HTX not only wants to be everyone's first love, but also their life partner. We will continue to work hard in the future and win back users' hearts over time. When we talk about Huobi HTX again years later, it will be like chatting with old friends, and we can tell many stories.
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