Xiaomi and Giant Founders Invest in Bitcoin Exchange OKcoin

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The Rise of OKcoin: Backed by Tech Titans

In a surprising yet strategic move, OKcoin, one of the prominent players in the cryptocurrency exchange space, has secured investment from two of China’s most influential tech entrepreneurs—Lei Jun, founder of Xiaomi, and Shi Yuzhu, chairman of Giant Interactive Group. While neither party has issued an official public statement confirming the details, multiple credible sources and industry insiders have verified that both figures are indeed investors in the platform.

This development marks a pivotal moment in the evolving narrative of digital assets in Asia, especially considering the regulatory turbulence that has shaped the crypto landscape since 2017. Despite China’s strict crackdown on initial coin offerings (ICOs) and domestic crypto trading platforms, OKcoin has managed to maintain relevance by expanding internationally and securing high-profile backing.

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Regulatory Challenges and Strategic Shifts

On September 4, 2017, Chinese financial regulators issued a sweeping ban on ICOs, citing concerns over fraud, money laundering, and financial instability. As a result, the price of Bitcoin and other cryptocurrencies plummeted temporarily, and many domestic crypto businesses were forced to shut down or relocate overseas.

In response, OKcoin shifted its operations abroad, focusing on international markets such as Japan, South Korea, and Southeast Asia—regions where regulatory frameworks were more accommodating at the time. This strategic pivot allowed the exchange to continue serving global users while complying with local laws.

Despite the government's restrictions on trading within mainland China, interest in blockchain technology and digital currencies remained strong among private investors and tech leaders. Shi Yuzhu, known for his bold public opinions, voiced support for Bitcoin just days after the ban.

Shi Yuzhu’s Public Endorsement of Bitcoin

On September 9, 2017, Shi Yuzhu took to Weibo—the Chinese equivalent of Twitter—to defend Bitcoin and blockchain technology. In a now-notable post, he stated:

“We shouldn’t overly demonize Bitcoin. Just because something is hard to understand doesn’t mean it’s inherently bad. If illegal activities occur during trading, those should be严厉打击 (severely cracked down upon), but that doesn’t justify banning Bitcoin trading altogether. Even if Chinese citizens are prohibited from owning Bitcoin, foreigners will continue holding it—and one day, some national governments might include Bitcoin in their foreign exchange reserves.”

He also emphasized the transformative potential of blockchain technology, predicting it would profoundly reshape finance and become integrated into everyday life.

His comments sparked widespread discussion online and signaled early institutional-level interest in cryptocurrency despite regulatory headwinds.

Lei Jun’s Involvement: Clarifying the Confusion

While Lei Jun initially distanced himself from direct involvement in cryptocurrency ventures, rumors persisted about his connection to OKcoin. In November 2017, speculation intensified when reports suggested that Lei Jun had profited from Bitcoin mining operations.

Jun publicly denied owning any Bitcoin or investing in mining hardware manufacturers. However, when questioned about his relationship with OKcoin, Xu Mingxing, the founder and CEO of OKcoin, confirmed to Hexun.com that Lei Jun was among his investors.

Xu did not clarify whether the investment came through Shunwei Capital, Xiaomi’s corporate investment arm, or as a personal venture by Lei Jun. This ambiguity leaves room for interpretation but confirms at least one major tech leader’s confidence in the long-term viability of digital asset platforms.

Why These Investments Matter

The participation of both Shi Yuzhu and Lei Jun in OKcoin underscores a broader trend: even amid regulatory uncertainty, visionary entrepreneurs recognize the disruptive power of decentralized technologies.

Their investments are not merely financial—they carry symbolic weight. When respected figures in China’s tech elite back a crypto project, it signals resilience and innovation in a space often misunderstood or misrepresented.

Moreover, these moves reflect a nuanced understanding of risk and opportunity:

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Frequently Asked Questions

Who invested in OKcoin?

Multiple sources confirm that both Lei Jun, founder of Xiaomi, and Shi Yuzhu, chairman of Giant Interactive Group, have invested in OKcoin. While neither has made an official announcement, industry insiders and statements from OKcoin’s CEO support this claim.

Did Lei Jun invest in Bitcoin?

Lei Jun has publicly stated that he has never personally owned Bitcoin nor invested in mining equipment manufacturers. However, he is confirmed to be an investor in OKcoin, a major Bitcoin exchange—likely through indirect or venture capital channels.

What was Shi Yuzhu’s stance on Bitcoin?

Shi Yuzhu expressed strong support for Bitcoin on social media shortly after China’s 2017 ICO ban. He argued against demonizing the technology, emphasizing that illegal use cases shouldn’t justify an outright ban. He also predicted that governments might eventually hold Bitcoin as part of their reserves.

Is OKcoin still operating in China?

No. Following Chinese regulations issued in September 2017 banning cryptocurrency exchanges and ICOs, OKcoin ceased its domestic operations and relocated its services overseas. It now serves international users under compliant frameworks.

How did OKcoin survive the 2017 crypto ban?

OKcoin adapted by shifting focus to global markets such as Japan and Southeast Asia. By restructuring its business model and securing investments from influential tech leaders, it maintained operational continuity despite domestic restrictions.

What does this mean for the future of crypto in Asia?

The involvement of major entrepreneurs like Lei Jun and Shi Yuzhu highlights enduring confidence in blockchain innovation—even under tight regulation. Their support suggests that digital assets will continue evolving through private investment and international expansion.

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Final Thoughts: A Signal of Long-Term Belief

While the 2017 regulatory clampdown reshaped China’s cryptocurrency ecosystem overnight, it didn’t extinguish innovation—it redirected it. The quiet yet significant backing of OKcoin by two iconic tech figures demonstrates that belief in blockchain’s transformative potential remains alive at the highest levels of industry leadership.

As global interest in decentralized finance grows and new use cases emerge—from tokenized assets to smart contracts—the legacy of early adopters like Shi Yuzhu and strategic investors like Lei Jun becomes increasingly relevant.

Their decisions may not have made headlines at the time, but they represent a quiet vote of confidence in a future built on transparency, decentralization, and technological empowerment.