The Hong Kong Consensus 2025 spotlight stage provided a platform for leading voices in the blockchain and Web3 space to share their insights and experiences. A key highlight was the presentation by Thomas Kay, Vice President of WEEX Global, followed by a candid fireside chat with Anndy Lian, a best-selling author and blockchain strategist. The event, presented by WEEX, offered a glimpse into the exchange’s rapid growth and a broader discussion on the evolving landscape of Web3.
WEEX Global: A Story of Exponential Growth
Thomas Kay’s presentation detailed WEEX Global’s impressive journey since its establishment in 2018. He shared that WEEX secured a $100 million investment in 2019 from top Singaporean investment firms. Within two years, the platform grew from zero to a staggering $2 billion in daily trading volume. By 2022, WEEX reached 500,000 daily users and signed Jackie Wu, a leading Hong Kong entertainer, as its global brand ambassador.
Kay highlighted that in 2023, WEEX’s user base expanded to over 2 million globally, and they obtained SVG and FSA licenses, enabling operations in over 200 countries and regions. Another $100 million investment was secured from FSN Group, a major South Korean marketing agency. Kay proudly stated, “2024, I think it was one of our best year, full of achievements. I’m very proud to say that we are one of the fastest-growing exchange last year.” The exchange grew from 2 million to 6 million users, reaching a daily trading volume of $5 billion.
A key differentiator for WEEX, according to Kay, is its extensive offering of altcoin pairs. “We have one of the most altcoin pairs, 1,700 plus futures and spot trading pairs,” he stated, providing users with a vast variety of trading options. He emphasized WEEX’s commitment to listing valuable projects, with over 100 different projects listed monthly.
Kay also pointed out WEEX’s focus on liquidity. “When it comes to trading, liquidity is honestly one of the highest priorities for a lot of users,” he said. WEEX boasts over 800 deep liquidity futures and ranks top five among all exchanges in terms of liquidity. Notably, research by CoinMarketCap placed WEEX in the top three for Bitcoin and Ethereum liquidity.
WEEX recently introduced higher leverage options, up to 400x. Kay acknowledged, “I personally would never recommend anyone to go above 50x,” but noted that over 30% of users trade with more than 200x leverage. He explained that this caters to the market trend where users seek higher upside with less capital.
Security remains a top priority for WEEX. Kay mentioned the establishment of a 1,000 BTC protection fund to ensure user fund security. “We have consistently managed to have more than 100% reserve ratio for the last two years,” he added.
The WEEX Token (WXT) and Future Plans
Kay introduced WEEX’s native platform token, WXT, highlighting its remarkable growth of 384% since launch. He described it as “a benchmark for every centralized exchange trying to launch a token right now.” WEEX plans to replicate the success of other exchange tokens by burning WXT quarterly, using 20% of the company’s profits to reduce supply and enhance token value.
WXT offers users up to 70% trading fee discounts and higher profit shares for affiliates. Kay also highlighted the “relaunch” platform, where users can commit WXT to projects and receive airdrops. He announced a current event offering 1 million USDT worth of WXT airdrops to holders.
Looking ahead, WEEX plans to be active in conferences and expand globally, with a new office launching in Dubai. Kay emphasized the focus on providing the best experience for all users, including institutional and high-net-worth individuals. He also stressed the importance of community engagement and global compliance. “In 2025, one of our top priorities across all departments is compliance,” he stated.
Fireside Chat: Community, Exchanges, and Sustainability in Web3
The fireside chat between Thomas Kay and Anndy Lian delved into the challenges and opportunities in the Web3 space. The conversation began with a discussion on community building.
Kay acknowledged the difficulty, stating, “Building community is a lot tougher than a lot of you guys think,” especially compared to 2018. He emphasized the need to provide value beyond incentives: “We want communities that stay with you because of who you are or what you provide for them long term.”
Lian added that users are now more sophisticated, seeking transparency and understanding the relationship between projects and exchanges. “It’s not easy to really build effectively,” he said, highlighting the need for unity and collaboration within the ecosystem. He suggested that established exchanges should support smaller projects in emerging markets.
Lian emphasized the importance of genuine community engagement. “Whenever I see a very good community…it will be easier for us to spot good projects on X,” he said, noting that real community members’ actions and feedback are distinct from bots.
The conversation shifted to the evolving role of exchanges. Lian pointed out that users are looking for exchanges that offer an extra layer of security and accessibility, particularly for on-ramping and off-ramping funds. He also predicted a decline in KOL-driven exchanges, stating, “Exchanges’ role is also to help us see out what are the goods that you should really talk to and work with.”
Lian shared an interesting observation: “Normies are actually asking these questions in specific AMAs or private groups,” referring to questions about exchange listing fees and whether exchanges are genuinely supporting the community or prioritizing revenue. He stressed that “things should be transparent.”
Regarding the future of projects and memes, Lian sees meme coins as a “door opener” for easy entry into the crypto space. However, he emphasized the need for a sustainable roadmap beyond the initial hype. He suggested models like franchise cafes or merchandise, where the community works for their own benefit, ensuring long-term sustainability.
Lian criticized projects with “no plans” and “poor leaders,” emphasizing the need for price action and real partnerships. He highlighted the importance of exchanges partnering with good communities for a win-win situation. He cautioned against prioritizing influencers over genuine community benefit, stating, “If you want to be sustainable, you have a big community, make sure that you can monetize that.”
The fireside chat concluded with a call for candid conversations and mindful actions within the Web3 space. Lian’s closing remark, “I hope everybody can do well in this run,” encapsulated the overall sentiment of the event: a focus on collaboration, transparency, and sustainable growth within the evolving world of blockchain and Web3.
Video Source: https://consensus-hongkong2025.coindesk.com/agenda/event/-weex-sponsored-session-92 (Official Video from Consensus 2025)
Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.
Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.
An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.