Wu said exclusive: Deciphering the complex OK high-level bilateral structure, professional managers' management tends to be stable

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This is the third in a series of articles on the organizational structure of the three major exchanges. Please refer to the following before reading:

1: Wu said exclusive: Decoding Binance’s high-level power organizational structure dual-head system + Chinese executives

2: Exclusive: Former Alibaba executive Zhu Ye becomes Huobi’s new CTO, all Huobi executives revealed for the first time

OKCoin is one of the earliest cryptocurrency exchanges in China, and is also known as one of the three major exchanges along with Binance and Huobi. OK has a relatively higher exposure in the Chinese-speaking world, but due to its strict external confidentiality system, complex organizational system, and frequent changes in senior management, OK's high-level organizational structure is the most difficult to summarize.

It is worth noting that OK, which has had frequent changes in senior management in history, seems to have entered a relatively stable period of management by professional managers in recent years. OKEx's business development has also had many highlights recently. While stabilizing its derivatives advantages, it has joined competition in other fields and developed international businesses in Japan, the United States and other countries.

Xu Mingxing is undoubtedly the founder of OKEx, but he cut ties with OKEx after 18 years and is no longer mentioned by the official. However, he is still a major shareholder of OKEx and attends events more often as the founder of OKEx Group. OKEx's current business structure is divided into two parts. The first is the exchange business OKEx; the other is the Hong Kong-listed OKEx, which includes OKLINK and the compliant trading platform OKCoin.

As for OKEx, CEO Jay Hao and CSO Xu Kun appeared on behalf of the company and are currently the top two figures in OKEx.

JayHao : Born in 1974, graduated from the University of Mississippi, and received a master's degree in electrical engineering from Georgia Institute of Technology. He worked as a professional manager in several traditional electrical engineering and semiconductor companies and joined OKEx as CEO in 2018.

Xu Kun: Graduated with a master's degree in economics from Renmin University of China (Xu Mingxing alumnus), joined China Fortune Land Development in 2010, worked in Zhongrong Trust and Tianfeng Securities, and served as research director of Tianfeng Securities Blockchain Research Center. He joined OKEx in early 2019 and was responsible for investment, business, and coin listing.

James Jiang: He joined OK in 2016. He used to work for many multinational companies such as Oracle and TripAdvisor, where he was responsible for marketing, user acquisition and business data analysis. He is mainly responsible for user growth and marketing in the world and China, and currently serves as VP of Marketing and CMO.

Unfortunately, the VPs of OKEx’s products, operations, R&D, and contracts have not been disclosed to the public and are kept strictly confidential. But we can confirm that these four heads of related businesses also hold important positions within OKEx.

OKLink includes blockchain browser and technology service provider OKLink, stablecoin, incubator, overseas compliant exchange OKCoin, academic research, etc.

Ren Yunan: Chairman of OKLink, born in 1975, was admitted to the Law Department of Peking University in 1993 with the first place in the total score of liberal arts in Nanjing, Jiangsu Province, and later obtained a Bachelor of Laws from Peking University and a Master of Laws from Harvard University. He served as a senior lawyer from 2004 to 2007; from 2007 to 2008, he served as Vice President of the China Investment Banking Team of Lehman Brothers Asia Investment Limited in the United States. On July 9, 2018, he served as Executive Director, Chairman and CEO of OKLink.

Fang Hong: COO of OKLink and Chairman of OKCoin, an early investor in OK, graduated from Peking University and holds an MBA in Finance, Accounting, and Entrepreneurship from the University of Chicago Booth School of Business. He worked at Goldman Sachs' New York headquarters and West Coast offices for eight years. Previously, he served as Head of Investment and Strategy at Giant Interactive (Giant Interactive founder Shi Yuzhu is the second largest shareholder of OK).

Tim Byun: Responsible for government relations, he has served as risk manager of VISA's credit settlement department and chief compliance officer of BitPay.

Recently, OKCoin also introduced Megan Monroe-Coleman, the former senior director of compliance at Coinbase, as chief compliance officer and Haider Rafique from Blockchain.com as global marketing officer, accelerating its internationalization pace.

Compared with the structures of Binance and Huobi, OK has adopted a relatively complex organizational structure, such as packaging compliant businesses into OKEx. The advantage of this is that the compliance risk of the company's business can be minimized, but the disadvantage is that the integration of internal resources of the company will be difficult and it is not conducive to international development. It can be seen that OK's internationalization progress is relatively slow.

As we all know, OK has had frequent changes in senior management in its history, and is even known as the Huangpu Military Academy of the cryptocurrency circle. The senior management structures of Huobi (Li Lin + Zhu Jiawei) and Binance (CZ + He Yi) are relatively stable. At present, the combination of JayHao and Xu Kun seems to have kept the OKEx system stable to a certain extent, and it can be seen that JayHao has gained more trust. Under the arrangement of professional managers, we also expect OK to develop more rationally and stably in the future.

OK equity structure:

According to Lianwen statistics, in addition to Xu Mingxing, who personally holds more than 50% of the shares, there are the following investors:

Shi Yuzhu's daughter Shi Jing holds 13% of the shares;

Feng Bo, founder of Ceyuan Ventures, holds 9.86% of the shares;

Zhuo Yue, vice chairman of the China Art Foundation, holds 5.08% of the shares;

Tang Yue, founder of Xiaoying Technology and former eLong founder, holds 7.89% of the shares;

Venture capitalist Mai Gang holds 5.08% of the shares;

Meitu founder Cai Wensheng holds 1.82% of the shares;

Feng Tao, the founder of Shanghai Lianchuang and brother of Feng Bo of Ceyuan Ventures, holds 0.5%;

Intime Group Chairman Shen Guojun, public fund leader Wang Yawei , Yang Yongxing, Wei Weiping and others also participated in the investment.