Dialogue with Xie Jiayin: I have ambition, and Bitget has ambition too

Written by: Deep Tide TechFlow 

Introduction

In the restless world of crypto, there are not many people who make others feel at ease. Xie Jiayin, the Chinese-speaking head of Bitget, is one of them.

Since joining Bitget at the beginning of 2024, Xie Jiayin has championed the slogan "building the warmest exchange," maintaining a friendly, pragmatic, and down-to-earth image on the front lines of the community. In two years, he has led Bitget from being stereotyped as a small exchange to becoming one of the top three in the Chinese-speaking market:

User numbers have surpassed 120 million, with an average monthly trading volume of 750 billion USD, and it is the first platform whoseUS stockcontracts have exceeded 10 billion USD in trading volume. In discussion threads about "the exchange app you use most," Bitget is appearing more and more in the comments.

Behind this rapid growth is the iron-fisted drive of this "warm-hearted" leader.

About himself, he says:

If I can't protect users, then I am not worthy of being the Chinese-speaking head of Bitget. I basically work 12-14 hours a day, I read and reply to every message, truly helping users solve problems and safeguard their interests. Since joining Bitget, I have posted a total of 17,000 tweets on Twitter, averaging 24 per day, not counting the massive number of private messages I handle daily.

About his team, he says:

I require my team to respond instantly as well. If Bitget wants to become the warmest exchange, the team must not avoid, shirk, or delay responsibilities.

After seven years of ups and downs and achieving the important milestone of "fourth globally, top three in the Chinese-speaking market," how will Bitget, under the gentle yet determined leadership of Xie Jiayin, establish itself in the new direction of "UEX (Universal Exchange)" and open the next chapter of growth?

On this, Xie Jiayin says:

I hope to achieve the leap from "Bitget third" to "Bitget second" as soon as possible, and truly secure our position as number two. I have ambition, and so does Bitget.

In this issue, let's follow Xie Jiayin's sharing and step into the thoughts, feelings, and ideas of the evergreen Chinese-speaking head of an exchange.

The following is a transcript of our conversation. The podcast audio version is also online. Welcome to subscribe to "Let's Flow" on Xiaoyuzhou.

Click Xiaoyuzhou link or scan the QR code in the image to listen

If you can't protect users, you are not worthy of being Bitget's Chinese-speaking head

Deep Tide TechFlow: I'm glad to chat with you again in this way, Jiayin. Actually, I'm quite curious about something. It seems that except for Bitget and a few other exchanges, most exchanges don't have a particularly prominent Chinese-speaking head, or even this position at all. Why do you think that is?

Xie Jiayin:

This is a rather interesting phenomenon. Since I entered the industry around 2018, I've experienced many platforms and seen various operational models of exchanges. Indeed, most exchanges do not promote a Chinese-speaking head, or even set up this role at all.

This mainly stems from several reasons:

First is the regulatory environment. Since 2017, domestic regulation of the crypto industry has become increasingly strict, and many exchanges have chosen to go global. Especially teams with Chinese founders tend to deliberately downplay their local identity and expand their business in a more compliant and low-key manner.

Additionally, market strategies differ. Exchanges with Chinese teams inherently have a Chinese-speaking gene and don't need to emphasize a "Chinese-speaking head" to deepen their local label. But Bitget is different. We only returned to the Chinese-speaking region in 2023. Although we already had a high profile overseas, in the Chinese-speaking region we started from scratch, with no first-mover advantage. So we needed a person, a team, to truly connect with users and build trust.

So, in April this year, I officially led our Chinese-speaking team to debut, with the aim of serving users more directly and efficiently, providing truly valuable support. Not every exchange has the courage to do this, but for us, this is our sincerity and further highlights our differentiated advantage.

To be honest, I often hear some "flattering" comments from users, such as "there are many exchanges, but only one Xie Jiayin" or "Xie Jiayin is a born BD body," which I think also reflects our differentiated strategy in the Chinese-speaking market. That is, our team, from top to bottom, can achieve rapid response centered on users. I often say, if you have a problem, just come to me anytime—basically, you can find me before 3 a.m. For the brand, we will continue to cultivate the Chinese-speaking region and grow together with the community. This is our big commitment.

Deep Tide TechFlow: You are probably the evergreen Chinese-speaking head of exchanges. In your view, what are the main responsibilities of this role?

Xie Jiayin:

After becoming a Chinese-speaking head, my work shifted from being responsible for a specific point or sector to a more macro, overall perspective, because this position itself emphasizes coordination and strategy.

I always insist on being on the front line, so I have high exposure in the community, and many people know me and Bitget because of this. This is related to my personality: between being mediocre and being different, I chose the latter. Bitget has become a very important part of my life, and I do my best to bridge the gap between the platform and users. I often say: Whoever's users, they protect. If I can't protect my users, then I am not worthy of being Bitget's Chinese-speaking head.

Externally, I represent Bitget to users, but internally, I represent users. There have been several times in meetings with tech and product teams where I almost argued with them because I felt their rules were unreasonable or mechanisms unfriendly. In the end, these aspects were optimized. I always believe that protecting users' interests is not just about "what I say," but more about "what Bitget does."

Regarding the responsibilities of the Chinese-speaking head, the most important isbrand buildingand marketing. Since I joined, our influence in the Chinese-speaking market has increased significantly. For example, last night at the gym, several major clients told me our recent financial products are good, and many big clients around them have come to Bitget. A few days ago, I saw data showing that since I joined Bitget, the platform's BTC reserves have increased fivefold, and ETH more than tenfold. Of course, this is not just my personal achievement, but this recognition makes me very happy. Through continuous marketing and operations, we have maximized Bitget's reputation and appeal among Chinese-speaking users.

On the other hand, community operation and user management are also crucial. I have about 1,000 groups in my WeChat, and the messages never stop. Although most are set to "Do Not Disturb," as soon as someone @ me and that red dot pops up, I click it to check if it's for me personally or everyone, and I try to respond to every message promptly. With more groups and users, I can always stay on the front line, hear feedback first, and respond quickly—this is very important.

In addition, ecosystem building and business development are also core tasks for the Chinese-speaking head. I now not only lead the marketing team but also formed a BD team in mid-October, personally leading them in user acquisition and trading expansion. This includes our pioneering US stock contracts, soon-to-be-launched gold, forex, and other new products, which also need market exposure. We also connect with quantitative institutions and other partners. In short, from market to business, we promote the brand's ecosystem growth in all aspects. Compared to before, when I was only responsible for marketing, the challenge is now greater.

Finally, as the Chinese-speaking head, I also need to frequently participate in external PR activities, make public statements, and actively maintain the platform's reputation. This is also an indispensable part of the role.

Deep Tide TechFlow: As the Chinese-speaking head of an exchange, where do your pressure and sense of achievement come from?

Xie Jiayin:

The pressure is actually very high. First, the workload of this position is very intense:

I basically work 12-14 hours a day. Working like this for a long time, it's easy to get exhausted, as everyone's energy is limited. I also fully understand that when the market is bad, people can get emotional. For example, my Twitter, WeChat, etc., receive a large number of private messages, comments, and complaints every day, and occasionally some "personal attacks." All of these require a strong mentality to handle in an orderly manner. In addition, if emergencies occur, we must respond immediately. Any delay could trigger a crisis of trust, which is absolutely unacceptable for the platform.

Another source of pressure is platform competition: Exchange competition is becoming increasingly fierce, especially this year. Maybe today you poach my employees and channels, tomorrow I grab your institutions and big clients. At the same time, many Chinese-speaking users are already industry OGs, and their expectations for exchanges are rising. If we make a mistake, users may switch to other platforms, which is like sending users to competitors—this brings great pressure.

Finally, I think personal exposure is a double-edged sword. As an executive, being too active makes you a target. There are all kinds of people in the industry, and being scolded or questioned is common. But that's okay. As long as it wins reputation for the platform, brings users, and enhances the brand and trading, I think it's all worth it.

The sense of achievement also comes from many aspects.

What makes me happiest is users' recognition and loyalty. Many users once doubted Bitget, but now truly support us. Seeing user data continue to grow makes me very happy. For example, last quarter, we counted all users in our ecosystem, including wallet and exchange. User numbers have surpassed 120 million, and the exchange's average monthly trading volume has reached 750 billion USD. This is very gratifying. Our goal for 2026 is to surpass 1 trillion USD in monthly trading volume.

Another sense of achievement comes from the team's growth. I can lead the marketing and BD teams to rapidly expand the Chinese-speaking market ecosystem, develop channels, VIP clients, institutions, and partners. Every day, you can see changes happening. I'm very happy to witness Bitget grow from a chaser to a leading platform with broad influence.

Deep Tide TechFlow: Everyone who has interacted with you generally feels you are very approachable and caring. Can you share your MBTI type? Does this affinity come from professional requirements or your personality?

Xie Jiayin:

My MBTI is ENFJ, although I don't pay much attention to or believe in it, haha.

I'm naturally a very approachable person. I think if you want to stand with users, just chatting in groups or posting on Twitter is not enough. You have to truly help users solve problems, and this is one of my strengths. No matter what I do, I always like to think from the user's perspective, which may be related to my ordinary background and upbringing. This allows me to better understand each user's thoughts and needs.

Also, to truly stand with users, you need to have empathy. For me, I won't put Bitget's interests above all just because I'm the Chinese-speaking head. Only by truly helping users solve problems and safeguarding their interests can you gain more trust. Otherwise, no matter how high your position is, it's useless. This is the basic logic of the platform and users growing together.

Becoming Top Three: Bitget in the Chinese-speaking Market

Deep Tide TechFlow: Recently, "Bitget Top Three" has become a hot topic. What is the standard for being in the top three? Do you feel a strong sense of achievement about this?

Xie Jiayin:

This is undoubtedly a very fulfilling achievement. Although our top three status is somewhat controversial, based on our real data, real liquidity, and our advantages in derivatives,US stocks, AI, and other areas, I can confidently say Bitget is top three in the Chinese-speaking market.

During our development, we also faced some doubts. For example, in September this year, we launched the UEX (Universal Exchange) direction for Bitget's seventh anniversary, and many people questioned it at the time, but that's not the case.

In terms of direction, many platforms, including Robinhood and Binance, are now working towards the "super app" concept, where one platform allows trading of any asset and captures all users. This is what UEX aims to do. In other words, Bitget's proposal of UEX is spot-on in terms of direction and trend. It's just a matter of who does it first and who does it best.

In terms of actual performance, we have delivered real results, and users love it. We were one of the first platforms to integrate Ondo. Last week, ourUS stockspot daily trading volume exceeded 60 million USD, accounting for about 73% of Ondo's market share. At the same time, our US stock contracts were the first to surpass 10 billion USD in trading volume.

In addition, our TradFi products are also in the works, supporting gold, forex, and ETF contract trading. Currently, only a very small number of users can experience them, but we expect to fully open them in January 2026. We are very efficient in product innovation.

Deep Tide TechFlow: After achieving the "Bitget Top Three" milestone, what further initiatives will Bitget take to deepen this impression or help Bitget become even more top-tier?

Xie Jiayin:

I once posted a tweet mentioning that Chinese-speaking users are really loyal. If they make money on a platform, they're willing to stick with it. Even now, I still think this is very true.

Many users' impressions of exchanges are still stuck on the old big three (Binance, OKX, and old Huobi), ignoring that many other platforms have caught up and even surpassed them in some areas. When we entered the Chinese market in 2023, many people saw us as a small exchange. To come back, we had to compete not only with the big ones but also with other small ones. Although it was tough, the Chinese-speaking market had to be done, so the question became whether you dared to do it.

We have made a lot of efforts for this, such as signing Messi and cooperating with La Liga, all to show Chinese-speaking users that Bitget is actually very good and also does well overseas. The Chinese-speaking market doesn't only have Binance and OKX; there's also Bitget. People's habits can change, and I hope more people will come and experience Bitget.

I believe that a brand is essentially a perception. It's like a first impression between people or the collective perception of users about a product. This perception changes over time and will eventually align with reality. For example, you may have always thought Bitget was a small exchange, but as time goes by, you will definitely feel that Bitget truly deserves to be in the top three of the Chinese-speaking market.

Looking ahead, we will continue to push several things:

In terms of market, we will launch more product activities, such as the recently launched TradFi and US stocks two months ago, which can bring us real user growth.

For branding, we will strengthen cooperation with quality content creators, continue to produce content, increase exposure, and actively participate in industry summits. For example, next year's Consensus, Token2049, etc., we will not only attend but also host our own side events, further strengthening Bitget's influence in the Chinese-speaking region.

Behind a Score of 10 in Aggressiveness: Building "the Warmest Exchange"

Deep Tide TechFlow: You are very active on Twitter. Do you post all your tweets yourself? Have you counted how many X messages you've replied to since joining Bitget?

Xie Jiayin:

I did some counting. Since I joined Bitget on January 2, 2024, up to now, the total number of my replies and posts on Twitter is 17,000, averaging about 24 per day, which is a very high frequency. And this is just public responses, not including the massive number of private messages I handle daily.

But I don't process Twitter messages at a fixed time every day. In daily life, I check Twitter from time to time. For me, checking Twitter is a very natural and effortless thing, like opening it during meetings or while writing proposals. This may be my advantage—I have the energy to do different things at the same time, haha.

Deep Tide TechFlow: Many people think Bitget is like Huawei. If you rate your own aggressiveness from 1 to 10, what score would you give yourself and why?

Xie Jiayin:

I would definitely give myself a 10. I am essentially a competitive person, but my competitiveness is not aimless, nor do I force others to work hard with me. Everyone's energy is limited and everyone works hard. My aggressiveness is truly performance-oriented. For example, now that I'm leading the BD team, if there's a need at one or two in the morning, I will handle it immediately, set up a group, and arrange for BD to follow up.

I require myself to respond instantly, so I also require the BD team to respond instantly. The BDs I lead now are mostly newcomers. Some have only briefly worked at other exchanges, and some have never been in crypto at all. But my management style and results are pretty good. The BDs I personally lead are all performing well.

Deep Tide TechFlow: Since joining, we've seen you share various Bitget services on Twitter, such as new launches, VIP services, and recently the U Card. What do you think Bitget has done right to sustain its growth, and what areas need improvement?

Xie Jiayin:

I've been at Bitget for almost two years now. During these two years, I've felt proud of Bitget from the bottom of my heart. We've gone from being a hard-charging chaser to one of the top platforms. This journey hasn't been easy, and it took real effort.

What everyone sees is mostly me at the front, but what truly supports Bitget is the partners who work day and night to polish products and serve users. Our entire team has about 2,200 employees.

Behind our rapid growth, there are things we've done exceptionally well. I always emphasize that whatever users need, we provide. That's why we've successively launched US stocks, TradFi, and other products. In addition, since July this year, we've been expanding institutional business and VIP services, with great market feedback. Our VIP clients are very loyal, and many are willing to put their assets and main trading on Bitget. For institutions, about 90% of the ones you know in the market have become our clients.

Of course, there are many areas we need to improve. I always believe there are no perfect people, nor perfect exchanges. In fact, the development of exchanges is similar for every platform: moving forward while being criticized. We certainly have times when we didn't handle things well, but our most valuable trait is that we can spot problems and correct them immediately. If you get hit, stand at attention—attitude comes first. Let users see that this is a trustworthy and responsible platform.

In April this year, when I led the team out, I said we wanted to build "the warmest exchange." What does warmth mean? It means not avoiding, not shirking, not delaying. When users and channels come to us, we must respond instantly and always be online. As long as we keep doing this well, our position in users' minds will gradually improve.

Deep Tide TechFlow: Can you share some major initiatives you've led or promoted since joining Bitget? For example, in products or marketing.

Xie Jiayin:

First, I'm very proud to have built an excellent marketing team. Our entire Chinese-speaking marketing team has only six people, yet we've achieved industry-recognized results. Not only is market feedback good, but even competitors praise us behind the scenes and try to poach our people. But since I built the team myself, it's not that easy to poach them. In addition, I also built an excellent BD team, which is still small. If there are outstanding talents, recommendations are welcome.

Another thing I think we've done well is significantly increasing Bitget's presence among Chinese-speaking users. Now, when people mention Binance and OKX, they often also think of Bitget. This is the result of our efforts to be seen.

Then, when the Hong Kong fire happened recently, I led Bitget's donation efforts. We donated a total of 12 million in three installments to three different institutions, each focusing on different types of aid: some for post-disaster psychological counseling, some for basic living needs, and others for financial compensation. We hope to truly help those affected through more targeted means. Many users also gave feedback that Bitget did a solid job on this.

Since joining Bitget, I've always emphasized "walking with the community, resonating with users." In my heart, users always come first. What impressed me most was the pump.fun new launch event in June, which I personally led. Many people couldn't get in during the first 10 seconds, and the quota was all gone. I was on a business trip in Thailand at the time. As soon as I landed and saw the situation, I knew the original plan wouldn't work. So I spent more than five hours monitoring community feedback, from around 11 or 12 at night until four or five in the morning. At six or seven in the morning, before work hours, I urgently convened the product and operations teams to meet and decided to implement a sunshine allocation plan, immediately starting to calculate the quota per person.

But before many details were finalized, we couldn't announce it to the community, so before the official announcement at 4 p.m. that day, we took a lot of criticism. The funniest thing was that I posted a WeChat Moment saying I was paying attention to the community, but the picture was from a gathering with friends in Kuala Lumpur a week earlier. Many people scolded me, asking if this was what I meant by listening to the community. Of course, the matter was eventually resolved perfectly and recognized by everyone, further proving that through these accumulated efforts, Bitget's brand influence among Chinese-speaking users will continue to grow.

Only by adhering to long-termism can you truly achieve results

Deep Tide TechFlow: As you are about to start your third year at Bitget, what are your next goals for work and life?

Xie Jiayin:

At work, I hope to achieve the leap from "Bitget third" to "Bitget second" as soon as possible, and truly secure our position as number two. This is our big goal. More specifically, I hope our average monthly trading volume will surpass 1 trillion USD as soon as possible. I have ambition, and so does Bitget.

In my personal life, I can't think of anything right now, because my life and work have merged. In the Chinese-speaking region, Xie Jiayin represents Bitget, and Bitget represents Xie Jiayin. So sometimes I see comments saying I'm a good person, but Bitget is such and such. At first, I saw it as recognition, but now I feel a bit uncomfortable. My thinking is simple: I represent Bitget. If Bitget is not good, it means I haven't done my job well.

Deep Tide TechFlow: Let's talk about something lighter. It's said you got a 50-month year-end bonus last year. How many months do you predict you'll get this year?

Xie Jiayin:

For me, the year-end bonus is more like a footnote to the result, not the goal itself.

If I have any expectations, I hope to see a "pretty good" number in Deep Tide's newsflash.

Deep Tide TechFlow: Last question. You just mentioned the market turning bearish. Can you elaborate on your view? Do you think the crypto industry is in abear marketor abull market? And how do you view the future of the crypto industry?

Xie Jiayin:

I remember around 2010, the concept of mobile internet emerged, and around 2014, mobile internet really started to take off, with smartphones becoming popular and all kinds of mobile games, apps, and ecosystems appearing. Before 2010, the internet was in the web era, and everyone was still using Nokia. In my view, the crypto industry is still in the internet era of 2000, and it's still a decade away from the mobile internet era.

I entered the circle around 2018. At that time, mainstream media and public opinion were still critical of the crypto industry. But over the years, the value of crypto has been proven, and many countries, including the US, are vigorously developing crypto. This proves that good things can stand the test of time, just as Bitget will also stand the test of history.

I also strongly encourage young people to join this industry. It is definitely a thriving industry. When I joined in 2018, it was by accident. I knew nothing about crypto and was a complete newbie—truly a regular who rose from the grassroots.

Back then, the blockchain industry had a low threshold. Whether you were handing out flyers, working in real estate, or a pharmaceutical rep, you could try issuing coins or starting projects. Eight years later, the industry has become more regulated and professional. Many graduates from top schools are now eager to enter this industry. Young people have realized its prospects and opportunities, which is a very good trend.

As for the market, last night bitcoin was around 86,000 USD. Short-term prices don't mean much. You have to know that more than a decade ago, bitcoin was almost worthless, but now, no asset can outperform bitcoin. I think these things are just the evolution of the times. The market has its own cycles, and a short-term bear market doesn't mean anything. Only by adhering tolong-termismcan you truly achieve results.