It is Yi: Bens development path and new trends in the financing of encryption

Date: April 8, 2025

Event name: Hong Kong Finance Forum

Supervisor: Veto, Founder of Metara

Guest: Hey, co -founder of Binance

On April 8, at the Hong Kong Crypto Finance Forum just, Binance He Yi participated in a Fireside conversation conversation and discussed the Binance Development path and new trends in encryption financing with the founder of Metara Vito.

Yi has first responded to the reason that she was “online repeatedly” on social platforms recently. It believes that the founders must stand on the confrontation line, listen to the voices of users, and realize the changes in the industry. She also confessed frankly that whether the creation of the product, the construction of society, or the communication of compliance, it should return to the most important point: “whether it solves the real problems of users.”

In her participation, she also expressed her views on the current popular market sectors: instead of blind concepts, it is better to solve needs to the ground; Only a clear business model and users who want to pay can support the WEB3 project to go in the long run.

Below is a full copy of the conversation:

opening

Veto:

Hello everyone, welcome to Fireside chat today. We are honored to have the lady Hu Yi, the co -founder of Binance, to discuss with us “new trends in financing the Binance development”.

Reasons for returning to social media platforms

Veto:

Since the beginning of this year, especially after the new lunar year, we have noticed a clear change: Yijie has begun active on X (Twitter) highly frequently, and is in sharp contradiction with the past few years. Some people are even suspected of being an agent. Can you talk about the changes behind the scenes?

Hey:

Old Binance users may know that I have always described myself “main customer service”. Since 2017, I have been active on various social platforms such as WeChat Groups and Weibo, and interacting with users frequently. These reactions allow me to discover the problems of the product and user requests more, and return them to the product team in time.

Nowadays, the “founder model” is popular in the silicon Valley – the founder must be at the forefront. I think we were in this model from the beginning. It was only because Weibo was banned that I withdrew from Chinese social media for a while.

As we all know in the English circle, the Chic Chic Chic was very active on the Internet in the past. Now that you stepped down, we found that Binance communicates with Chinese users has been somewhat cut off, so I returned to the social media “Battlefield”.

In addition, I often assure the management team that we serve two types of people: users and employees. External users must be heard, and internal employees must be supported. As managers, we need to create an atmosphere where the employees are ready to work hard and say proudly “I am in Binance”.

Binance is three things: First, making good products, secondly, user and employees service well, and the third, they communicate well with the organizers. These three points constitute our basic competitiveness.

Logic and challenges behind high -frequency reactions

Veto:

Thank you for sharing. I would like to ask, what are the temporary results of high -frequency interaction? Have you discovered any new problems in this process? Will you continue to maintain this high frequency in the future?

Hey:

Of course, I hope to “copy” a lot from me, so that more employees and executives can be aware of the “main customer service”. If they are better than me, I can step down from the confrontation line.

However, the truth is that we introduced the WEB3 era, where the spread of information from “one direction” has turned into “multi -directional”, and everyone is an information knot. The problem that this brings is the excessive load of information, as 99.99 % of the useful information may be for you, but 0.01 % of “real gold” is very valuable.

In addition, when everyone is KOL, spreading information is vulnerable to discredit and even rumors. These rumors are ridiculous, but you cannot take enough time to clarify them one by one.

So you need a strong will and a steady feeling of direction. You know who you are and from where did you come and where are you going. Negative voices are inevitable, but you must be able to tolerate them and realize that this is the “antiseptic” that all mature founders must confront.

From sunlight to alpha 2.0: the main logic behind this

Veto:

The “Sunshine” wallet, the Alpha 2.0 launch on the chain, and other procedures. Is there a unified strategic logic behind this? What are the goals you want to achieve?

Hey:

We must admit that there is still a gap between the Binance Wallet and the Governor of the Upper Industry. When the strength of the product is not strong enough, we have to work more seriously in other aspects and allow users awaiting us, and we will do what is better.

In the end, any product must return to the basic needs of users. Many people clearly distinguish between governor and exchanges, but in reality, users have long been “mixed” for these two service.

If the wallet is just a portfolio, then why can the exchange cannot be used as a wallet when the users of the chain on the chain? I am a user not trading frequently, and my exchange account is my wallet.

Today, many governor does not require the series KYC audits or anti -money laundering, and can adjust millions of symbols; While the central stock exchanges have higher compliance thresholds and can only include hundreds of coins. This is not a matter of the highest or less, but different options under organizational policies.

Binance Wallet is a province because we have been exposed to losses before and we cannot make mistakes in compliance again. This is responsibility, not stupidity.

Change industry trends and Binance air conditioning

Veto:

Therefore, the Binance modification series is a response to changes in industry directions. What are the basic changes that you think have occurred in the entire encryption industry?

Hey:

The industry is already changing. In the early years, the cryptocurrency was a small circle of obsessive and idealists. But today, even the most prevailing traditional financial systems, like the American government, have begun to accept it. Why? Because once it is proven that technology is valuable and efficiency can be improved, it can be absorbed and used by the main current.

Crypto ETF is a symbol of this, which is the product of a mixture of traditional financing and the world of encryption. Supervision has become more clear, and more and more countries and regions have introduced specific business frameworks.

On the other hand, the coding industry itself also evolved from chains and initial general exchanges to a broader application layer, such as border payments across border, Defi, and even DePin, which already have a practical use value.

This is similar to how Silicon Valley has moved from being a fool in the 1960s until it becomes a technological force today. Web3 is the same, he was a rebel in the first days, but he will ultimately ripen and serve the audience.

Don’t worry about the path, and return to the user’s needs

Veto:

So what do you think of the different “paths” now – Defi, RWA, DePin, etc.? What is the trend you prefer?

Hey:

I think instead of asking “What path you think is good”, we should ask: What is the problem that you solve? Is anyone ready to pay for your product?

The problem of many start -up companies in Web3 is that they do not have a business model, and they talk about it in a deep way but users do not understand, and they only use data to get inserts on stock exchanges and that’s it. This is not sustainable.

We cannot just chase after concepts. Who did you solve? What is the base of users? Is there a strong demand for this product? These are the real questions.

I also do not like to distinguish between “Web2 VS Web3”. In essence, human nature is global, as well as works. Whether you use Blockchain or not, as long as you can make really useful products and want to return the beautiful to society, you deserve respect.

Successful companies all share many things:

1. Timing: Time Standing;

2. Geographical advantage: Do you do the things you are in the right place?

3. Harmony: Is there a reliable team?

4. Extremist will: if you can withstand all difficulties.

Look at NVIDIA, Tesla, and even Binance. They “escaped from death” several times, but it was only because we continued in one step further than the others we have survived.

conclusion

Veto:

Thank you for your great post! Today’s time is limited, but the content is very rich. If you want to follow the Yijie dynamics, please follow Twitter and Metaera. Thank you again, and thanks everyone a gift!