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cz

Zhao Changpeng is the founder and former CEO of Binance, originally from Guiyang, Guizhou, and born in Lianyungang, Jiangsu. He has served as a member of Blockchain.info and the Chief Technology Officer of OKCoin, and has also held the position of Technology Director at Bloomberg. Zhao Changpeng is known for founding the cryptocurrency exchange Binance. His wife is He Yi, a co-founder of Binance, and they have two children together. On November 21, 2023, Zhao Changpeng announced his resignation as CEO.
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CZ: Hong Kong and Web3 are a powerful combination, RWA will become a major direction

CZ stated at the offline "Binance Life" book club meeting in Hong Kong that Hong Kong, as a financial center, has unique advantages in the flow of fintech talent, mainland talent, and institutional connections. Although it is not outstanding in infrastructure such as electricity and data centers, its competitiveness in the Web3 financial sector is evident. He believes that the current AI hype will not hinder the long-term development of Web3, and individuals should choose directions that interest them, that they are capable of, and that hold value; Hong Kong and Web3 are indeed a strong combination. Besides Hong Kong, he is also optimistic about Dubai and Abu Dhabi in the UAE, as well as the United States after its policy shift to support the crypto industry.CZ mentioned that the development speed of RWA has significantly exceeded his previous expectations, especially in terms of securities on-chain. Traditional stocks are limited by account opening thresholds, trading hours, and geographical restrictions. Once assets are on-chain, they can be directly accessible to global investors, significantly enhancing accessibility and liquidity, making them more attractive to countries and companies with smaller securities market sizes. RWA will be an important development direction moving forward, and stablecoins are essentially a type of RWA that brings fiat currency onto the chain. Currently, the market is mainly dominated by USD stablecoins, and in the future, more countries may promote their national currencies to be on-chain to expand their global circulation.He also stated that DEX has gradually evolved over the past eight years from products like Uniswap and PancakeSwap to Hyperliquid, with both infrastructure and user awareness significantly maturing. According to his current understanding, the regulatory pressure from the U.S. on decentralized products has eased compared to the past, and clearer separation models are beginning to appear between international platforms and those targeting U.S. users, with some international platforms not necessarily requiring comprehensive KYC. If the policy environment continues to relax, the development speed of DEX and the entire crypto industry may significantly accelerate in the coming years.

hot_img CZ: Bitcoin still follows a four-year cycle, and cryptocurrency is entering the most favorable policy environment

At the SALT conference held in Jackson Hole, Wyoming, CZ discussed the previously mentioned "super cycle" of Bitcoin at the Davos Forum, stating that this claim has yet to materialize. From the data, the market still follows a relatively strict four-year cycle, currently in the bear market phase; however, as the total market capitalization continues to expand, the price volatility will tend to narrow, similar to the price fluctuation patterns of large companies like Amazon and Facebook.Regarding the regulatory environment in the United States, CZ stated that this is the friendliest industry environment he has seen in his 12 years of work, and he believes that the U.S. regulatory framework has a demonstrative effect globally, with many countries' securities laws and exchange regulatory structures referencing the U.S. At the same time, Hong Kong is accelerating its legislative efforts to align with U.S. regulatory thinking. Additionally, CZ discussed the allocation situation of his investment firm YZi Labs, stating that currently about 70% of the funds are directed towards the core tracks of crypto and blockchain, about 20% towards AI, and the remaining portion towards fields like biotechnology.YZi Labs uses its own funds and is not constrained by external LP return cycles, placing more emphasis on the positive impact of projects and the execution capability of founding teams rather than purely on financial return models. Regarding Hyperliquid, CZ mentioned that there is a misunderstanding in the industry, believing that as a shareholder of Binance, he would only maintain a CEX position, but his entry into this industry was precisely because he believes in decentralization. If platforms like Hyperliquid, which do not require KYC, can enter the U.S. market in a compliant manner, it will open the doors for the entire industry, allowing more Perp DEX and decentralized services to reach users in the U.S. and globally, thus providing American consumers with better liquidity and pricing. This will not only benefit Hyperliquid itself but also international centralized trading platforms, including Binance.
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