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CEO CHAT 🎙️
Recorded: July 31, 2025 Duration: 0:57:51Space Recording
Short Summary
In a recent CEO Connect session, Binance's Richard Tang discussed the bullish outlook for the crypto market, driven by institutional adoption and regulatory clarity. Key highlights included the launch of the Genius Act, the success of the Binance Alpha program, and Binance's commitment to expanding its presence in emerging markets like the Middle East.
Full Transcription
. Thank you. Thank you. Hey, hello everybody a very happy Thursday to everyone that's joining great to see so many
of you in the chat already before we kick things off can everyone react with an emoji
if you guys can hear me properly and hear me okay. Okay, I've got the thumbs up. Great to see so many of you here.
Also early to the stream, which is always fantastic. So let's get everything started.
So first of all, a very big thank you for joining. Welcome, it's time for another monthly roundup and X space
with none other than our very own CEO of Binance, Richard Tang. My name is Jessica and we'll be
guiding you through the session today. So what an exciting month it has been for crypto. We saw a
new Bitcoin all-time high, a new BNB all-time high, both in the month of July. Ethereum celebrated its 10 year
birthday and just a few days ago. And we also saw the White House release their digital asset report.
So we're going to be talking through everything that's happened with Binance and also on the
wider crypto market with our very own CEO. And this is a chance for you, the community,
to ask your questions to Richard. Now there is a few ways
that you can do that. We'll be monitoring the chat throughout the conversation so if you do want to
write in and submit your questions I'll be keeping a very close eye on those throughout the stream.
If you do want to ask any questions to Richard verbally you can request to speak and we will
bring you up onto the stage for you to ask your questions.
So without further ado, I think it's time to welcome to the stage Richard Tang.
Richard, thank you so much for joining us today.
First of all, happy end of July. How's your summer going?
Very, very good, Jessica. Hi. Thanks for having me. Hi, everyone. Thanks for joining us today.
joining us today. Well, thank you for having us. It's been such an exciting month. And I think
Well, thank you for having us. It's been such an exciting month.
myself and the community, we are thrilled to pick your brains on everything that's been going on
with finance. So I think Richard, if it's fine for you, I will kick things off with our first
question. And this is based on our last monthly CEO Connect. Because during these conversations,
you do express a bullish outlook for the crypto market in 2025.
And I think in our last conversation, you even predicted exponential growth. So we're really
curious to ask, what are the key drivers for you behind this optimism and this bullish outlook?
And also, are there any specific trends you can share with the community
trends you can share with the community that could shape the market this year in your opinion?
that could shape the market this year, in your opinion?
Well I have a bullish view since the beginning of 2024 right so when people ask me beginning
of 2024 to make a prediction I say that Bitcoin will probably end 2024 at above 80,000 but my
view of 2025 is going to be much better than 2024. So I think that the $80,000 price point came about.
We saw that last year.
And 2025 so far has paned out to be very bullish.
As you mentioned, Bitcoin all-time high again this month.
Binance celebrates our 8th anniversary.
And BNB more than 800.
All-time high.
Ethereum 10 yen.
But I think it's still the beginning.
Why am I bullish?
I've been bullish since beginning of 2024 for several reasons.
So I think first of all, in our space, it has always pretty much been retail-driven.
This asset class is the only asset class where retail embraces it in a big way. Unlike all other asset class,
the anomalies are the institutions, the family offices, the corporates first embrace it. This asset class has
gone the reverse direction. But last year, for the first
time, I've seen pretty robust institutional
support and adoption. So I think that's the first thing that caused the bullishness.
Second thing, more and more countries are then devoting resources
to develop framework to support crypto regulation.
Again, that's a big bullish because it means that
it's going to be recognized as a legitimate asset class.
More and more institutions and investors, including retail,
are able to access that asset class throughout the world.
So long-term trend-wise, that is a very, very strong driver.
And of course, at the end of last year, you have the U.S. electing President Trump,
who is extremely pro-crypto and wants to make the US the crypto capital of the world.
So all these are very bullish indicators.
And you see those trends continuing this year.
I mean, the different financial institutions supporting, embracing, rolling out their crypto strategy,
be it trading front, stablecoin front.
You see different listed companies coming out of treasuries, options, etc. for crypto.
So generally, I think the mood is strong.
But still, we are still in a very early stage of adoption at this point in time.
So I still continue to see a bullish trend going forward.
But of course, market will never go one direction.
So we will still be subject
to macroeconomic conditions
and what the broader environment brings.
So while bullish,
I continue to watch
the different indicators coming through.
Thank you, Richard.
And it's always so powerful
to hear someone of your caliber say,
you know, despite all of the
really positive headwinds that we are seeing in the market we are still early and there is still so much for
room to grow as an industry and such an exciting time so with that in mind let me start to bring
some speakers onto the stage for their opportunity to ask you some questions so i've just brought to
the stage km crypto so km crypto welcome to stream. Thank you so much for joining.
Just checking you can hear is okay.
And I will hand the floor over to you to ask a question to Richard.
Oh, GM Richard.
Yeah, I can hear you guys.
Yeah, GM Jessica.
So I have two questions here.
So my first question was the Genius Act import.
Can you elaborate how the Genius Act
and how it could empower the crypto industry,
particularly for exchanges like Binance?
And my other question is,
if there are any new product launches coming up on Binance
or features?
So first of all, the question is on
Genius Act, right?
Genius Act is an act
that is enacted
in the US
mainly giving clarity
on stablecoin issuers
what they have to observe.
But,
the very fact that
the US
has gone from
a period of oppression
under the last administration
to this administration
under President Trump
wanting to make the US the crypto capital of the world,
electing not only the Genius Act that gives clarity on stablecoin issuers,
but also things like Clarity Act, market structure provisions etc.
All these are very important provisions that provide a clear roadmap for the industry on how they will be regulated.
So it is very good.
So allow all the stablecoin issuers to then proceed with their game plan.
And you see that bullishness coming through, right?
So it's not only the traditional stablecoin issuers.
You have now financial institutions wishing to issue their own stablecoins.
I think by far,
you have seen several announcements on that front.
I believe Bank of America, Fidelity, Standard Chartered.
And on top of that,
you probably see some e-commerce platform
announcing their intention as well, right?
Which makes sense, right?
So the likes of Walmart, the likes of Amazon, etc.
So I think this is still the beginning.
You will see many more experimentation, many more initiative on the stable coin
fronts, but also on the other fronts.
I mentioned treasuries.
You see different listed companies using their treasuries to buy crypto from
Bitcoin to BNB to Solana to Ethereum
and much more. So you see those strategies coming through really because of the much broader and
much clearer environment that the US is providing now. So that's a great thing. Second thing,
what new product and features?
I believe you are a user of Binance Alpha,
and I hope you are enjoying that.
That again is one of the product features we have rolled out,
amongst many others in the last two years,
from Megadrop to SuperEarn to Binance Square, etc.
We will continue to roll out all the new products.
We received many good feedback.
We recently also launched our Sharia Un product,
which is the first in the world
to cater to our Muslim brothers on that front.
And we will continue to support our users
in terms of what they need, right?
So do provide us comments, inputs on what you want to see.
We have also enhanced our app UI UX user interface on that front,
focusing on making our platform much more intuitive, much more accessible.
And I think I got many feedback from users that the improved visual design and navigation
allowed them a much better experience.
And this comes from both new as well as experienced users.
Going forward, we're also going to invest quite heavily
into AI-driven tools to personalize our users' trading experience,
enhancing security with advanced authentication.
Again, that security cannot be under-emphasized on that front.
And also, streamline onboarding process to reduce friction
points for users.
So overall, our goal is to make finance the best-in-class platform in terms of having
the best product and features, making sure that crypto trading is inclusive, is user-friendly,
while maintaining the highest standards of reliable trust and security.
Fantastic.
Thank you so much, Richard. And thank you, KM Crypto, for the question. of reliable trust and security.
Fantastic.
Thank you so much, Richard.
And thank you, KM Crypto, for the question.
What a great two questions to start things off.
So thank you so much there.
Okay, time for our next question.
So now let me bring to the stage Crypto Rakib.
Crypto Rakib, thank you for joining us.
Can you hear us okay? Oh, Crypto Rak joining us can you hear us okay oh Krypto Rakeeb can you hear us
yeah I can hi yes we can welcome to the stream do you have a question for Richard Yeah. Can you hear me? I have something to hear you too.
Yes, if we can't hear you, no problem. We've also got GS Crypto only that we can invite onto
the stream. So GS Crypto, can you hear us okay? And are you able to ask a question for Richard?
Yeah, I'm here. Can you guys hear me?
Yes, we can. thank you thank you for having me
jessica and uh yeah shout outs to you guys hosting these spaces and and letting the public
hear from the ceo directly i mean that's that's a huge step towards transparency and everything so
shout outs to you guys i've been a vivid binance user since i think like seven years now and never
changed so kind of feel like a binance of myself. So but yeah, my question, Richard, goes to you in terms of the Binance Alpha
program that you have now, I think I just wanted to hear a little bit about your guys's
thoughts. And because we obviously know a lot of projects want to get listed on Binance,
but now we've kind of seen like the Binance alpha is like, seems like a step towards that. And just like your thoughts on, first of all, Binance alpha
in terms of like, how is that? Is that like a gateway and like a step towards Binance? Or is
it going to be like that is more normalized? And that's going to be like the place where most
projects come and it's going to be more easier for consumers to use it through the Binance Alpha.
Just your thoughts on that.
So thanks for that question.
I think that's a useful question to provide some insights into our own thinking.
So the reason why we came up with Binance Alpha,
again, we received feedback from users to say,
hey, we want earlier access to exciting tokens
right and you know binance has pretty stringent listing criteria so we have been thinking about
how do we you know bring forward the best of both the decentralized space but also the best
of decentralized space right so what we call a CD5 concept.
And Binance Alpha breached that gap
by allowing our users
very easy navigation
towards the decentralized space
by having much early access
to exciting and promising tokens
while we continue to monitor their progress.
So those are some of the fundamental thinking
behind Binance Alpha.
And so far, I think it has been a great success.
Thank you to all users
for your strong support on that front.
And we continue to enhance it
with different features.
So we will continue to do that.
As for listing criteria,
our listing criteria still remain unchanged.
We still keep track of the various parameters, including those on Binance Alpha.
We like to see how they continue to perform to make sure that, you know,
the quality of listings on Binance remain high.
But, you know, Binance Alpha is a bridge towards, you know,
much earlier access towards exciting projects
I hope that answers your question
Much understood
no I appreciate that
so thank you for your time
Great
thank you for the question
okay I'm now going to go into the comments as well
I appreciate for some of you
you might be travelling or on the go and you can't ask verbally. So also do make sure to comment in
the comment box. And I will be looking through those too. So Hello CTO has asked a fantastic
question. He said, we're now going to take the opportunity to ask the question. Here is my
question, sir. What makes a token community stand out to Binance? And while, of course, we can't dive into token community specific,
I think Binance is so community focused that, Richard,
maybe you can ask what makes a good forming of a strong community?
I think really the community engagement is very important.
How do you engage?
How do the token engage your community, right?
And how do the token create value for the community?
I think those are extremely important.
I think this is more or less a follow-up from the previous subject method,
from Binance Alpha to listings.
Truth be told, we have tried to experiment various things.
So we have done things like Launchpad, Launchpool, MegaDrop, et cetera.
And on the listing front,
we do have an independent team
that does all the research and evaluation.
Among the criteria that we look at,
which are non-exhaustive,
but among the criteria that the team will look at
will include the market demand
as well as community engagement.
Of course, the other things will be things like project quality, the background of the team,
their track record, what's our technological innovation, the roadmap, the use case,
the applications, security and compliance, etc.
But also the pace of development, pace of adoption, pace of take-up,
and the value that is creating for the community.
So some of those areas are areas that we continue to focus on in terms of listing. So the better
the projects and the tokens engage the community and the more passionate the communities are,
the better off the projects will be.
Fantastic.
Thank you, Richard.
Okay, and now I'm going to bring to the stage
we have Prince Pusher.
So welcome to the stage, Prince.
I hope you can hear us all okay.
And would love for you to take the stage
and ask your question to Richard.
Hi, how are you guys doing today?
Appreciate you guys having me up here. Very good good I can't believe I'm up here with Richard and finance and Jessica thank you so much
thanks for chatting yes so my question for you is uh what steps is finance taking to make crypto
court currency more accessible and user friendly for beginners like normies for instance because
i haven't seen us as a crypto community on board these people what are the steps finances taking
to do that thank you so much sorry you're a bit soft so i'm trying to paraphrase what's the
question i think you're asking uh how do we help new users onto the platform? Is that right?
Correct.
Correct.
Okay.
So, again, I think if you look at,
I mean, there's general market trend where people now from institutions
to family offices to corporates,
now there's a general acceptance
that crypto is a legitimate asset class.
Unlike a few years ago where people are very skeptical of crypto, now all the institutions are fully embracing it,
determining ways to roll out. And you see different institutions in different parts of the world having their own strategy. So many of them do come to us to explore partnership on how we can support crypto adoption on those fronts as well.
And we look forward to working with all the different institutions on that front.
So I think that's one area.
Second area, we have always emphasized the learning journey. So it's very important that any new users,
before they start investing and trading into crypto,
they know what the technology is about,
what are they trading.
So we spend a lot of time on education,
from things like Binance Academy
to the various events that we conduct to tie it up with financial to tie it up with
educational institutions with universities with vocational institutes to roll out programs courses
to coach people that's interested in blockchain and crypto and we always tell people that you know
do your own research that That's the most important.
It's important to learn as much as possible.
There are many good free-to-air content.
Binance Academy is one of them that we continue to push aggressively on content.
So whether you're an early learner to a very advanced learner,
do make use of those content to understand before you invest.
But there are now much more pathway compared to the past. advanced learner, do make use of those content to understand before you invest.
But they are now much more pathway compared to the past in terms of investing into crypto.
Great, thank you, Richard.
And also I'm going to use this opportunity to shamelessly plug the Binance YouTube channel.
We do have an explainer series of crypto in simple terms. And
also we read the comments. If there's any comments from any topics you'd like us to cover, we are
very reactive to those two for education is so important in the space. So don't forget to
subscribe, guys. That's all from me on the YouTube channel. Next up, we have Alex joining us on the
stage. Alex, thank you so much for joining. Checking you can hear is okay.
And I will hand the stage over to you to ask a question to Richard. Thank you so much.
Thank you so much, Jessica. Thank you, Richard. Thank you, Benance, to host this space for us.
And I want to ask a question. and I was curious about the thing
going on Banan Square called leaderboard.
As we can see different leaderboard, one is a general
one where we rank from 100 to 1 and project leaderboards.
I want to know what is the basic difference between the main
one and the project leader
boards.
Thanks for that.
Thanks for that.
I must say, I don't know enough.
Let me find out and get back to you on that front.
Yeah, we will ping you, Alex.
Alex, I've just followed you on X, so I can clarify and give you some more info. Once we finish the X phase, I will touch base with some of the Binance Square team and follow up with you too.
Okay, time for the next question. Okay, I'm adding to the stage. We have Al Cash joining us now. And I recognize the face from some of our Binance events so Alkesh thank you for
joining can you hear us okay oh okay maybe there are some issues with Alkesh we also have Mo joining
us now Mo are you able to to hear us and to say anything?
Hello, how are you guys?
Hi, Alkash. Great to hear from you. You can hear us okay?
Yeah, thank you for this opportunity. I'm actually co-all with Binance, been working with Binance for about four years. So I just want to say that you guys made a good job.
Like Binance every year is developing more and more in the app.
So just keep going and thank you very much.
Thanks for the support.
Yeah.
We will continue to improve and enhance to make sure that user experience
continue to be enhanced on that front.
Please continue to support us.
When I see Binance like four years, five years ago till now,
it's changing a lot and they keep innovating new products. Like every time I see the app, I see a new product.
So just keep going.
And the goal is 1 billion.
Absolutely. So thank you for all the support from our users.
I mentioned that we just celebrated our 8th anniversary this month.
From the 7th year to the 8th year, we added more than 80 million new users
and we wouldn't be where we are here today without all your support.
So let me again thank all users
for your very passionate and strong support.
Our community is second to none.
We have the strongest and most passionate community.
Just now there was a question about community.
I think the Binance community
is the most passionate community out there.
So really, thank you so much.
I want to add one thing more quick.
We are doing marketing.
Okay, marketing brings people to finance.
But you guys give them the product.
If they don't like it, they will leave.
So it's both because we bring them.
If they like it, they will use it.
That's the marketing and the product they must match together to get the result.
Yes, absolutely.
So we pay a lot of attention to user lifecycle.
Throughout the different lifecycle of a user, what do they need?
We want to reduce friction point at a point in which they onboard with us.
And we want to make sure that we offer them,
our users, all the different products and services
after they onboard to their preference.
Again, different users in different regions
have slightly different preferences on that front.
So we aim to make sure that we provide the best.
I am very fortunate to have a very strong
and dedicated team behind me,
working very tirelessly to really support our users globally.
Okay, thank you, Richard.
And thank you to Alkesh for the question there.
Mo, are you able to hear us and to say anything?
Thank you for joining the stream.
Pleasure to have you.
And I'll hand the stage over to you
for a question for Richard.
Thanks.
Yes, thank you very much.
And thank you for this opportunity.
So I want to ask if any plans for Binance
to expand more in the Middle East.
I actually would love to see more presence
in Saudi Arabia.
And love the work Binance is doing globally.
Thank you very much.
So, I think, let me answer that question from a holistic level then to me that is right.
So, Binance is a global platform.
So, you want to make sure that we will expand everywhere that's permitted.
And we work very closely with global regulators on that front.
So we are the most regulated platform by now. We are regulated in 22 different countries on that front,
including different parts of Asia Pacific,
different parts of Middle East, North Africa,
Latin America, Europe, etc.
And we will continue to push ahead with that adoption curve.
The issue with Middle East,
we are already licensed in at least three different jurisdictions in Middle East
and quite a number of Middle Eastern jurisdictions
are looking to develop their own regime,
which includes Saudi Arabia.
I mean, Saudi Arabia is a very important market
within the Middle East region.
So we do keep a very close watching brief on that front to see the development coming
out from Saudi, including new rules and regulations as and when they are formulated.
And once they are indeed introduced, rest assured we are one of the first to try to
support our users in Saudi with deployment locally
super thanks for the support thank you very much fantastic great question there okay we have hello
CTO who has come up with a another question so great to have you here checking you can hear is
okay and we will hand the stage over
to you to ask your question to Richard. Hello, hello can you hear me clearly? Yes we can hear you.
Oh thank you. Hello this is Min Hunter the person who runs the Halo CDO. And I heard Halo is the most common greeting in Chinese meetings.
So I say hello in Halo to recharge this.
And also this is our community spirit also.
So it's truly an honor to have the chance to speak directly with the Binance CEO,
one of the largest and super cool exchanges in the world.
And yeah, by the way, here's my question, sir. I heard like it these days in a community-driven
world, like how does Binance adapt to grassroots its power? I want to answer to this. I want to get the answer to this question. Can you please say hello to us both?
Sure.
Hello, Ni Hao.
Do you speak Mandarin?
Sorry, my puppy is fine.
I can speak also Chinese, but English would be better.
Thanks.
Hello, Ni Hao.
Hello means, you know, literally is hello.
So, yeah, the grassroots, as you know, Binance comes from grassroots.
We started really supporting the grassroots movement.
And the entire crypto movement starts from grassroots
because it is the grassroots and the community that first embraced this.
And for close to 16 years,
after the Bitcoin white paper has been introduced,
it has been the grassroots that keep the movement going,
that continue to grow from strength to strength
before the institutions and the corporates
started to see the benefits and the huge opportunity in this space and and move in right so
we always remember where our roots are which is why we pay a lot of attention to all the needs of
our retail users right from the different parts of world. And you see from the products and features that we continue to introduce,
things like earn to allow users to earn much, much better using our platform
compared to what they have possibly locally.
Binance Pay, which facilitates transfer of value,
Binance Pay, which facilitated transfer of value,
when many of these users globally
are excluded from the financial system.
Financial institutions make it very expensive
for them to onboard to their platform.
They don't wish to serve many of these users
in different parts of the world.
For us, all of them, all our users are very important to us.
So we try our best to really understand
in different parts of the world, in different countries,
what are the local needs, what are the local preferences,
and to serve them to the best of our ability.
And our grassroots users are very passionate, as I mentioned.
They continue to provide us with very useful inputs and views,
which we then use to enhance our products and services.
So, you know, we have one of the strongest customer service team
with close to 20 different languages being supported.
And that really is a testament of why we continue to focus a lot
on the needs of the different users in different parts of the world.
So hopefully that gives you a bit of insights into our own thinking.
Great, thank you both.
Thanks for your response and sharing Binance's insight to us, boss.
Halo will be there and always building something to meet those conditions.
Really appreciate for your insight, boss, once again.
And thanks for having me here, Jessica.
Thanks.
Thank you for the questions.
Thanks so much.
Okay, next question.
Team Matrix, you have been added to the speaker stage.
Great handle on X. Can you hear us okay? And I'll hand the stage over to you to ask a question to Richard. Thank you for joining.
Richard, Jessica, and all of the Binance angels, which are doing a great representation.
I'm truly amazed.
I'm doing this work since one year, but I achieved like already 50K followers.
Thanks to Binance and thanks to Binance Square for having a social media platform and crypto platform together.
So big ups there because this is a big difference to me.
And we've been also inspired truly by us.
So we did also Binance Rise Up, the first song for you guys to grab on.
Hope you like it.
And my question is, what's going to be the next up of future spot of Binance?
You know, like I'm not talking about futures.
I'm just saying what's going to be
the next thing on Binance Square
so we can be like excited and prepared to it.
Because I know like you guys have something in common
and especially our CEO is prepared with some fire up heat,
which I want to find out.
Thanks again.
Before I answer, do you have any suggestions?
What do you want to see on Binance Square?
Because a lot of the features, a lot of the enhancement,
some of the best ideas we have come from, you know,
our angels, our affiliates, our community on that front.
So if you have any idea, please let us know.
But on features generally, not if you have any idea, please let us know. But on features generally,
not just on Binance Square,
but we continue for each of the product features,
for each of the product line we have,
from sports, futures,
earn, etc.
We continue to examine
what enhancement can we do
or what new things can we introduce.
So, but the challenge is What enhancement can we do? What new things can we introduce?
But the challenge is a lot of things are under work, under experimentation.
And until we are ready to rock, we can't make a public announcement on that front because people get excited and people might get disappointed if we can't do it in time. So rest assured, the team are working very, very hard
on the different fronts to try to enhance the platform,
the products, including on Binance Square.
But if any of you have any interesting ideas on that front,
please send them to us.
We love to look at it and explore.
Beautifully. Thank you very much uh very kind of you explained so i will have some patience some
big patience and big love for you and uh as explained so uh i'm i'm um i'm from europe but
all of our admins which are represented all on Binance, are worldwide.
You can maybe check us one time out.
You will see what we are doing or what we are trying to achieve for the community.
And always double Dior to everybody.
We love you and thanks for the time.
Thanks. Thanks for joining us.
And I'm very, very grateful to all the Binance engineers out there
for really supporting and flying our flag very high.
Thanks for all your effort.
Absolutely.
And it's so great to see so many of the Binancians joining us here
and so many Binance Square users, which is fantastic to see.
So a big thank you to Team Matrix for the question there.
Next up, we have Optimist, another great X handle
and username.
Welcome to the stream.
Thank you so much for joining.
I will hand the stage over to you now
to ask a question to Richard.
Thank you very much.
Thank you very much, Jessica.
It is a great honor of mine to be in this space
together with the CEO of one of the largest and one of the greatest exchanger with strong reputation, with strong qualities.
And it's my honor to be in this space and with this great personality. Thank you very much for having me.
And myself, as someone who deeply involved in the grassroots DeepEye education, and as well as community building, especially onboarding new users through tools like teaching people more about what crypto is, and also engineering the crypto adoption, especially in this part of the world, which is the Africa. And how can an independent educator like myself
maybe better collaborate with Binance
to scale financial literacy and adoption in emerging markets?
Are there any pathway for community-led initiative
to get Binance support or visibility?
Thank you very much.
This is the question I have for the CEO himself. And thank you very much. I'm very grateful to be in this space. Thank you very much. This is the question I have for the CEO himself.
Thank you very much.
I'm very grateful to be in this space.
Sir, thanks for that.
I do think that there are many different pathways,
obviously things like angels, affiliates, etc.
We can definitely ping you after this if you're keen
to see how we can engage much closer.
But you mentioned you're very passionate about education and we are very, very
passionate about education, including Binance Academy.
But our education effort is not on a single platform, it's throughout, right?
So both for our users, but also we do a lot of education to our partners and
potential partners because
they may not be as well-versed on the technology on the potential as as much as we do so we impart
a lot of knowledge to them we impart a lot of knowledge to educational institutions the different
universities the different vocational institutes that we work with. We do also impart through lessons such as those that we give to
law enforcement agencies and regulators and policymakers
because, again, we are at a very early stage
and many of them are trying to formulate framework
and we are helping them to formulate smart regulations
to really support users globally in terms of their crypto
journey so we are very passionate about education but education throughout the different spectrum
right from partners to regulators to our own users on that front so so i mean there are different
So I'm sure the team will ping you after this.
areas that we can look at so i'm sure the team will ping you after this
Thank you very much. I appreciate it.
Fantastic. Great question there. Thank you so much.
We do have some questions that are being written in as well.
So I'm keeping a close eye on those for those that can ask verbally.
Antoine Watt has asked the question,
what is Binance doing to expand its presence in the Western markets? And how do you think about the future? and ask verbally. Antoine Watt has asked the question,
what is Binance doing to expand its presence in the Western markets?
And how can the Binance community help?
So Richard, if I could ask you that question,
that would be fantastic.
Well, all marketplaces are very important to us.
So we, as I mentioned,
we are the most regulated platform globally now.
And we will continue to focus on that.
We are actually working quite closely with quite a number of regulators.
Firstly, regulators that have already formulated their platform,
but it's not that friendly for the crypto industry.
So now with US wanting to be the crypto capital of the world
and US being the
largest economy and largest, deepest capital markets, I think that provides the impetus
for many other countries to say, hey, US wanting to be both crypto and AI leader of the world
means that these two industries are the most important industries and we should devote time
resources to make sure we get it right.
So many of the countries that have already introduced their crypto framework
are now seeking inputs on how to bring about smarter regulations
that on the one hand manages to raise,
on the other hand supporting the innovation of it.
So we are working through providing inputs to those governments.
There are other governments that are starting from a clean slate.
They have not formulated any framework.
So we are working with some of them to help them formulate
a fit-for-purpose framework that is really conducive
for the crypto industry, supportive of this industry,
and bringing in new foreign direct investments,
supporting the talent that's working in this space on that front.
And there are other governments that want to set up
their own strategic reserve investing into crypto.
Some have already announced plans,
others are formulating their plans.
So we are working on a few prongs.
So this includes from east to west,
which is covering the area that you mentioned.
So we continue to explore very closely
with global governments as well as regulators
how we can help them in terms of formulation of rules,
how we can help them in terms of their journey
to create strategic reserves to invest into crypto, and also how we can deploy in those jurisdictions to support our users.
Great, thank you. And as you said earlier on in the stream, Richard, we are still so early. So
excellent answer. Thank you so much. We now have Alex joining us on the stream. So Alex, thank you
for taking the time to listen in. I will hand the stage over to you
to ask your question to Richard.
Hi, it's an honor to be here.
And I just wanted to ask a bit more of a personal question.
What is your relationship with the founder of CZ
on a daily basis regarding Binance
and maybe just apart from Binance?
And my second question is, do you like dogs?
I think on the first question,
CZ is a, I mean, for everybody in the crypto industry, right?
CZ is a legend.
CZ is a giant in the crypto industry.
Someone whom I admire.
And I have the benefit of working closely with CZ
when he was CEO and founder.
CZ is extremely humble,
extremely down-to-earth,
extremely transparent.
You can ask him the same question
at different times, right?
Over the course of different periods.
And he's very consistent in his reply.
So he's very forthcoming
very transparent and varying to share his knowledge right so i always appreciated that on a day-to-day
basis i work more i don't work that closely i mean cc is our controlling shareholder but
we have a very strong management team within a company whom I work very closely with. We have a board of directors and independent chairman that we do report to,
and we work very closely with the board of directors.
And of course, there are certain matters that need shareholders' approval,
and then those will go to shareholders for approval.
So maybe that just gives you a backdrop of the corporate structure
in which most companies do function in this fashion.
So that's one.
Do I like dogs?
I love all sorts of animals, but I don't own a dog.
So to answer your question.
So you don't have a name of a dog from me.
I like it's easy.
Fantastic.
I appreciate that.
Thank you, Alex.
And this is why these live streams are so fantastic because Richard, I always thought
you would be more of a cat lover, but here we are finding out that you're more of a dog
lover.
Yeah, I'm more of a dog lover than a cat lover, but I fancy dogs and cats as well.
I fancy all sorts of animals, but I, you know, I don't, because I travel quite a fair bit,
I don't have the luxury to have one.
I think that's the pitfall of traveling too often.
Yeah, it's working too hard as Binance's CEO.
It doesn't rest as a job.
So, okay, fantastic.
Next up, we have got to the stage,
Lubinsky B&B guy,
which also you have a dog as a profile photo.
So I thought it was quite fitting that
you could be next up to ask the question thank you for joining and do you have a question for richard
oh levinsky are you able to hear us okay yeah i can hear you now um how are you going guys
good good how are you very good yes i've been in the crypto space for about eight years now
and um obviously big binance fan um i'm just wondering you know for the little guys uh it's
very hard for a small projects to get through to the binance and what does a small project CTO what do they got to do to get attention from Binance
like you know CTO we've got for example I'm talking about little chill guy it's the biggest
meme in the world right now right it is on Solana network and I think that's where the problem lies we've got 130 000 holders okay uh and we've been
grinding every day pumping out memes it is the world's biggest meme in the um in the uh asia i
guess but collectively we all hold it um so what what what for example what does a little project like that
gotta do to get into binance like how do we get on alpha you know um
uh with all these just yeah so if you could explain that little part because i mean there
is hundreds of projects try screaming out for attention and um if there is hundreds of projects screaming out for attention.
And if there is anything that we could be doing more, if you could, you know, guide us that way, then that would be great.
Continue building.
As we mentioned, there's not only hundreds of projects.
There are literally thousands and thousands of projects. And that's the problem with this bull run is that there is just too many.
There's just so many.
And it's so hard to get to the top at the moment.
You know, four years ago, it was much easier.
Well, it wasn't easy, but there wasn't as many projects but there's so many chains and projects just thriving and trying to get to the top yeah so so maybe to answer your
question in a different fashion yes so maybe just to give you insight as i mentioned just now i'm
not quite sure whether you capture that but we do have an independent team that does assessment and they track
based on the different segments
of the industry.
Whether you are DeFi,
whether you're MIM,
et cetera, et cetera.
There are sort of different leaders
in each of those spaces.
And people that build
and doing it very well in terms of things like, right? And people that build and doing it very well
in terms of things like community engagement,
their utility, the innovation, the security, etc.
And those are the factors that we continue to look at, right?
How much traction the projects are gaining?
What exactly are they doing?
What space are they in?
What are they trying to do?
What are they trying to change?
Do they solve any pain points?
So we do continue to keep track of those different parameters.
But as you mentioned, there are so many new projects coming out,
so it's very competitive.
So work harder and continue building
to make sure that you have a compelling case
and our team will come knocking when that's the case.
Okay.
So is it like a matter of the project continually being sold
and wanted by people?
For example, with our project, it's already listed on a lot
of different exchanges and it's getting a lot of volume.
It's getting a lot of volume.
I'm not going to discuss specific projects.
So I'll give you a general answer.
But rest assured, we do scan the landscape.
There are different considerations as well beyond those,
including the tokenomics of the project
to make sure that our users,
as and when we do list them,
get a fair deal.
And those are good, exciting projects
with good potential.
So there are many, many other issues
that we need to look at.
So listings elsewhere
is not a prerequisite
for a listing on Binance.
Okay.
And finally,
do you love,
are you a chill guy?
Do you chill?
Like,
what do you do to chill out?
Like,
I know you're a high CEO,
a lot of numbers,
a lot of money,
you know,
a lot of people,
a lot of meetings.
What do you do to chill out?
I exercise,
I exercise to relax.
Beautiful.
That's perfect.
All right.
All right.
Well, thank you for your time.
And thank you for letting me speak.
Great.
Thank you so much.
Okay.
We do have time for one more question.
So I'm going to hand the stage now to the Crypto Palace.
Thank you for joining and listening for the stream.
Just checking you could hear us okay. And if you have a question for richard yeah jessica thanks for for bringing me up this
time i'm i'm really grateful for that um great job finance is actually doing in the space for
quite a long time and um and it's actually showing off we are are all seeing the good work and we are actually hoping
the next bowl season will be all about Binance or Binance Matching. Anyway, yeah, I'm a Binance
BS creator on Binance and I actually have quite some disturbing questions. We've been trying to
actually sort it out within the creators, but since it's
not actually getting to the board, I think probably this would be the best medium to
hear my view. I'm a Nigerian and I remember vividly when Binance Feed started, most of
us started the first month it was launched and we recruited quite a lot of content
creators on the platform.
But quite unfortunate along the line, some things came up probably because of the government
policy in Nigeria and a lot of benefits were actually, we are denied of different benefits
on Binance platform.
You know, the P2Pp platform we can no longer access
so many benefits but still we never stop building we never stop creating on the on binance square
so um i just want to have uh ask um um the ceo richard just want to ask um a question and um
um and i hope probably um for those creators that are listening to me now, probably after now they can still hear that view
and see your own view of what is actually happening.
So my question is, what step is Bain has actually taken
to support Nigerian Banner Square creators?
Despite being among the early adopters and contributors,
many of us actually feel we feel left out of
the whole key benefit and the opportunities that is available for
binance square creators idea plans to you know better include and also reward
creators from Nigeria that's my basic question and I would like like you to
attend to it and because this has been something that is bothering most
Nigerian creators we've been there from time, but now we felt left out.
So that was my question.
Well, thanks for that.
And thanks for asking that question, right?
So first of all, thank you for continuing to support finance and continue to create content.
At a broad level, we have to be very respectful of every country's policy. Different
countries have different considerations and policy, and obviously you know Nigeria's
government's policy towards crypto, which we have to respect, including on things such as P2P.
And we have stated our stance very clearly.
Hopefully over time, we will come to a win-win proposition for Nigeria, the country, and for Binance,
which is the largest crypto platform
that can help really support Nigeria in terms of talent,
retention, in terms of foreign direct investments,
boosting its local economy, and do all of those things, right?
But until we reach that consensus,
we just have to make sure that we comply
and be respectful of the local laws and regulations
and operate within the parameters that are allowed.
That's the same, not everywhere.
It's not only for Nigeria,
for different countries that have those provisions,
we just have to respect local provisions and regulations.
In the meantime,
work through with the policymakers and regulators to make sure
to see whether there's a path forward
where we can reach
a win-win proposition for everybody.
So hopefully that gave you some insights.
We will not stop.
We will be tireless in our effort
in terms of reaching out.
But until we have greater visibility,
unfortunately, some of the restrictions will continue to apply.
Yeah, okay. Thanks for the response. But I would really appreciate if you can actually
find a means or a medium to help ease the whole band of it in because We kept building we are not stopping but at least this is web 3
We understand the government policies actually affecting a lot, but the truth is we are still here. We are still building
Just find a means to ease
The whole band so it can actually be favorable for some of us that has been here for quite a while
And we'll never stop just find a means to ease it, please.
That's just, thanks for the response.
I really appreciate.
Thank you so much.
Yes, thank you for the question, Crypto Palace.
It was great to hear the insights there.
Okay, fantastic.
Well, that comes to the end of the session today.
First of all, I'd like to thank the community
and everyone that has listened in.
As we've mentioned, July has been such an exciting month
for all-time highs for Bitcoin and BNB.
So congrats to all the HODLers.
Ethereum's 10-year anniversary and birthday.
Binance's 8YA, 8-year birthday.
So Richard, before we wrap up another CEO connect,
it's always so valuable to hear your insights
and get to pick your brains for a full hour.
Is there any final messages or words for people listening, for the community and for everyone that's joined us today?
First of all, thanks to everyone that's joining us and thank you for really supporting Binance through the ages.
As Jessica mentioned, we celebrated our 8th anniversary this year.
Many of you have joined us and supported Binance from very early on.
So we are deeply grateful for your support.
We will continue to work tirelessly to make sure that we are the best-in-class platform
in terms of product features, in terms of security,
and always putting our users' interests first in every key decision that we do.
So thank you wherever you are in the world.
Do continue to support us and we do have exciting new products coming forth.
So keep a close watch out for new product features that we are going to continue pushing out.
Thank you so much.
Fantastic.
Thank you so much, Richard.
And finally, once again, thank you so much for everyone for tuning in.
We hope you enjoy these sessions and get a lot of value out of them,
and we will see you all in the next one.
Thank you so much for tuning in.
Thanks, everyone. Have a good day. Thank you.
