Hey everyone, thanks for joining. We'll have CZ for around 45 minutes so we'll try to find in as many questions as possible during that time. If you'd like to ask me a question, you can just raise your hand. If you're added to the stage and it's your turn to speak, please be ready and get straight to the question.
Please use your spaces and opportunities to show projects or any other unnecessary details. I'll be adding people to the stage so please make sure to keep your mic muted until I call on you and I'll aim to go in order when people add it to the stage. Let's just wait a few minutes for it's easy to join.
Hey, how are you? Yeah, not too bad. Thanks. You ready to go underway? Awesome. Okay, KM crypt on. Would you like to start?
Okay, um, hello, she's a wonderful name meeting you and talking with you. So my question is this, okay, I have to question, actually, I would like to ask what brought about the name, Binance, because Binance has been a really strong and tough.
exchange and they quickly change. I'm also based on spy D's so just on what's at the time because young stars would like to join crypto and they couldn't be able to buzz the KYC so what are you going to do about that?
Okay, your voice wasn't that clear. I'm not sure if it was my problem. The first question about I just heard about the KYC and young people wanting to join that's the question right
Okay, yeah, okay, the first question was What's brought about the name CZ like was the story or history behind Binance Okay, okay, okay, so yeah, I mean Binance was a it's a two words right binary finance binaries B I N A R Y so first
the first four letters and the finances, you know, everything after the first letter. It can be bit finance, blockchain finance, etc. The main thing was the domain was available at the time, six years ago. So that's basically like when you pick a name, it's less about this
You want to have a little bit of a meaning, but it's really important that a .com domain is available. So that domain was for sale for like $2,000 or something at the time, and we just bought it. So that's the name. On the KYC part, yeah, so depending on
which countries, not every country have good KYC vendors. So not every country has good providers that can check names versus passports versus the ID, etc. There are certain countries with a very good government databases.
Some of them would not let us access it. But KYC is an important part of both our own security and also compliance. And by and as is probably the first global crypto exchange that enforced global KYC.
Even today, there are many smaller exchanges that do not enforce full KYC. But we feel that as a leader in the industry, we do need to lead by example in our strong compliance. It does cause, it does the great user experience. There's more documents to upload, there's live test, and sometimes it's just the system that I'm
Many names, especially in certain different countries, many names are heavily, heavily flagged as no peps, political exposed persons. So in countries like Pakistan or China, when the Chinese words very often have the same pronunciation.
And when they translate it into English, they sound the same. And many of the checks doesn't have proper checks. So that is a problem. We have a lot of false negative, false positives. So many people who are supposed to pass KYC gets flagged by one of those tools. And then they couldn't pass.
And then in countries, in other countries, like many countries, there's no street address. People living villages and other communities. So the KYC doesn't work that well in many countries. We're trying to improve that. So we try to localize our KYC solutions, but it's difficult.
We need to be fully compliant. We need to do mandatory KYC. That's required being a heavily regulated exchange and also being the largest one. We're super scrutinized by all regulators all around the world. And then there is the user experience side. How do we improve that while being super compliant?
So it's tricky. We're not perfect. We're working on it. And actually, that's one of the big projects I spent quite a lot of my time working with the product team on trying to see how do we optimize that. So yeah, it's tricky. Thanks, easy. It's easy, but you're up next.
So thank you very much. So CZI, I want to ask you, so today another bank, another American bank collapsed. So what do you think about the financial system in the USA and now that can benefit Bitcoin for example, thank you.
I think there is a little bit of relationship but the is mostly independent. Well, I think the name of the bank is quite interesting. It's called the first Republican bank, right? So you might not be the last. But banking in the
industry are being there for a long time and when industries get older they become less efficient and banks are supposed to be very high revenue, high profit businesses but then this competition right so and then whichever bank fails gets bailed out and then what's the incentive for for people
not to take risk. The higher risk you take, the higher reward, but also higher rate of failure, but when you fail, you get bailed out. So if there's no risk, people just take more and more risks. So that's from a system perspective, right? It's not to say any single bank is at fault. I typically don't blame the players, but you know, you gotta blame, you gotta look at the game.
But banks successful or clearly it doesn't have much to do with crypto or Bitcoin. You know, there is a little bit of relationship, but you know, people store money in banks and when they couldn't store money in banks, they may look at other avenues and crypto is one of them. It's not the only one. People from a long time ago, people started buying
stocks because people understood that starting cash in the bank is probably one of the worst investments people can make with their money. And now stocks are going up and down and people are putting in real estate and people buy gold. Now there's an alternative which is cryptocurrencies which are which in my opinion
is one of the best choices, but it has a different set of risk characteristics. But it has a lot of that advantage. So it's very liquid, it's very easy to carry, it's very easy to transact, and it's limited supply mathematically. It's very easy to verify, it's very transparent, very open, etc. And it's very
very global. But it's highly volatile, so it's new, it's relatively new, it's been around for like 12, 14 years. So different people prefer different types of assets. It doesn't mean that when one thing has risk, people just come to the crypt directly. There's many other choices.
voices in between. But I think we should also from a crypto community perspective, we should not rely our success on failure of others. We should make crypto easier to use more utilities, more use cases, more adoption,
So that we increase the utility value or the usage or the value of crypto. So it's not to say that crypto cannot coexist with banks or with traditional fiat currencies, etc. So many things can coexist. We just got to make what we do better. So yeah, so I don't view it as a zero sum game and also new
are industries. Typically, the market size are much, much better than the traditional ones. Uber's market size should not be measured by taxi market size. Uber can do a lot more. For crypto, we can now enable a truly global commerce ecosystem.
And they can be a lot more that can be done with this new technology. So, yeah, so I think we shouldn't really tie bank success or failures to us. To be honest, the more successful the banks are, the better it is for crypto. Because, you know, the more everyone is successful in the economy,
the more money there is, the more value there is, the more people, the more activity there is, the better it is for everyone. So yeah, so that's kind of how I've used it. All right, thanks for that, CZ. Alex Koser, you there? Yes, I'm here.
Hello, TZ, hello, Binance, hello, community. Thanks for opportunity to ask questions. TZ, I have a short question about Binance card in Ukraine. Is it also new cards available to purchase? Thank you. Okay, I actually don't know the details.
Yeah, well, I do believe we have the refugee cars that comes with $750 US dollars in them. That's distributed. I forgot exactly how many, but I think it's with distributed millions of dollars already on that card. I don't know
So what the status of the other cars are, there's like nine different countries with card offerings, so I don't have that on top of my head. I'll check with our team. We do want to make the card available as widely as possible, but also just to be fully transparent. Recently, we've seen financial institutions withdraw like
But with drawing their support of crypto to one extent or another. So the card issuers banks are becoming more cautious in terms of collaborating with crypto exchanges, etc. Now, I don't like look, we have done everything we can, but it's just the overall industry atmosphere.
and global economic situation. So some of those things may become harder than in the short term. We hope in the future you will become easier. But we do want to provide cars in Ukraine and other places as much as we can. Great. Terry Jr. are you there?
Yeah, yeah, good morning everyone. I see this. My name is Terry Jr. I'm CEO of Flash Technologies. I want to ask a question about Binance expansion mostly in French speaking countries because I'm originally from a French speaking country in
Africa, but what I've seen so far is that Biannance is mostly doing marketing in English speaking countries. In Africa, there is a lot of French speaking countries in the world. There is a lot of speaking countries. I don't really feel Biannance in those countries. I was very glad to see you coming to Africa the last
time you came you saw a president and I was so happy because I was like wow this is the crypto adoption we are talking about so what is the plan of Binance I mean in French speaking country because we are Binance supporters I mean Binance fit creator I'm a big fan of Binance I used to I mean do all my purchase all my buy with
with my Binance card. So I'm a big fan of the ecosystem and I would like it to be I mean more in French speaking countries. So what is the plan of Binance in our areas? Thank you. Thank you, Susan. Sure. Hey Terry. Yeah. Thanks for the nice words and all the support. And for so, Binance is a global platform with
We try to expand established as many countries as we can, regardless of language, geographic region, etc. Wherever that is positive to crypto, we try to push. And I think out of all the crypto founders, I've probably visited the most French-speaking countries in Africa.
and including France. Yeah, I've used that ivory coast, Senegal, Togo, more or close now French speaking. But yeah, so I visited all of those countries fairly recently. And we also have a big presence in France, so we have a big French speaking team.
We are not everywhere per se, but it's a large world. But we do have local teams in many of the African countries, both French speaking and English speaking. Myself, my French sucks. So that's the core of my GPA in high school.
I was attending school in Vancouver in Canada and French is actually one of the mandatory secondary languages. It was difficult for me. So I tweet more in English so that may have skewed the exposure a bit. So I apologize about that but that's limited by
ability, not a willingness. So yeah, so I think we'll try to do more. I don't think there's a from my perspective, there's nothing particular about any language or any region. We just try to make a crypto, no crypto doesn't care which language you speak, which country you end, the block and then I don't care about that.
So, yeah, we try to do as much as we can. We do have very deep collaborations with universities in French-speaking countries. I don't have the full list, but there must be more than 20, 30 universities that we have collaborations with periodic seminars, classes, et cetera.
So we'll try to do more. I couldn't get into more specifics than that. But yeah, I like, you know, I actually have been trying to relearn French using this app on my phone for a while. I actually had a 48 day strict at one point then I was broken. But anyway, so we'll try to do more.
Thanks, easy. Crypto. Sorry, crypto and coffee. Jess, we're going to have to go. Hey, good morning, CZ. How's it going? Hey Jess, yeah. Good, good. Question for you. So there's been a lot of news about you guys expanding to different parts of the world.
So I just had like a general question like what are some of the challenges that you've encountered when trying to comply with regulations in different parts of the world being that everywhere they're so different and if you could have like a pick of something that would make your life easier during this process what would it be?
Sure, so there's a lot of, oh my god, there's a lot of, there's a lot of different challenges, right? They are, I think the number one challenge is really banking support, right? So if banks are are willingly working with crypto businesses, especially exchanges, then we can really facilitate the flow
between traditional financial systems and the crypto financial systems. And that would be good for both. Because otherwise the crypto ecosystem doesn't have a very good flow of money from traditional sources, but crypto will grow regardless. There are many ways to people
that peer-to-peer, person to person. And when crypto grows independently, the traditional financial institutions will be left behind five, 10 years later. And that will actually crazy because it's a substantial threat for them. So, maintenance support is usually always the biggest
But there are many others, right? You know, in certain countries, certain countries just say, look, no crypto exchanges, a period like China. That's not so good for us. That's not good for the industry, but now China recently, Hong Kong is very, Hong Kong is very open to crypto now. So that's a good change. I think China is using Hong Kong as a platform.
or test bed or sandbox, highly call it. I think that's super smart. And US was pretty pro crypto for a while. Coinbase listed on NASDAQ with SEC approval, but now they're getting to lawsuits. So now it's a little bit unclear. And there are
other countries who are still pushing this new technology like UAE, France, Bahrain, etc. So, yeah, so we try to spend more effort in the countries that are pro crypto and less effort in the countries that are less favorable. But we do have a large
What we call a policy team that comments on different regulatory frameworks, give advices, consulting, consultants, etc. So I think it's very important to get the regulatory framework done well in multiple countries. The first draft of multiple regulatory frameworks may be over
really restrictive. I think that's kind of naturally assumed. But with time, we hopefully with like industry comments, etc. We want to participate in that process, try to improve them. Other than that, I think education is really challenging, right? When we talk to people
the first time about Bitcoin or something, people just look at us weird. They look at us like aliens or like, you know, magicians. But education is really important. Most people don't understand finance. Most people you ask them what money is, they couldn't define it for you. They don't know how it works.
You ask them what's quantitative easing what are the impacts of that is? They are and they couldn't explain that they don't they don't think about it So I think education especially financial education is really important and we're spending a lot of time a lot of energy on that Yeah, other than that, you know, there's a lot of little challenges here and there the industry
So new that it's not going to be easy. So we just got to continue to keep our heads down, build product people use and work closely with Garfman's and regulators all around the world. Just on top of that, CZ, what do you think the key driver's crypto education could be?
I think the driver for education really like the countries who education is a very long-term investment. So the countries who have good education systems win in the future. So if you look at global talent, especially tech talent, the US has a lot of tech
Taiwan has Silicon Valley entrepreneurship China has a lot of tech tech talent So these two countries have very good internet internet web 2 platforms. They own the this two together kind of own 90 something percent of the web to industries There are other countries who have good tech
But doesn't quite have the entrepreneurship ecosystem like you know countries like India large population large IT talent, but they don't have anything that global platform right there's no TikTok there's no Facebook there's no Google etc. Well, they is for their countries, but they're now global
I think education is really important. And the net, so that's Web 2. With Web 3, we have to have, we have to have the best education of financial systems, right? Financial knowledge. We're dealing with money, we're dealing with global commerce, we're dealing with concepts like limited supply, what does that mean? A burn, what does that mean?
Even things like air drops, where does it come from? Stuff like that, right? So, and there are much more advanced concepts that I may not even express on. But the countries that have large populations of those younger talent are going to win the industry.
They're going to become entrepreneurs, they're going to build platforms, they're going to build tools, they're going to build the systems that power the future of global commerce. And whoever on whichever country has those platforms will be super influential in the future. So I think that's a big driver, but the problem is in
In most countries, the leadership are so short-sighted because they're 10 years short. In the US, you have four year elections and every two years you have a midterm. In other countries, leadership changed too quickly. They don't invest for 20 years. This is actually a disadvantage in certain countries where the leadership stayed
for a long time and they don't have to worry about succession and they invest long term. So there's a lot of different drivers but the biggest driver is an economic benefit. Absolutely, totally agree with you. Okay, thanks for that. Next, Joseph. Good morning, CZ. Good to talk to you.
Thank you. I have a question and I think it's something that's not a lot of people's minds right now. There's this new coin out there. It's at about a $500 million market cap right now and it's been taken crypto by storm over the last two weeks. When is Binance going to list Pepe?
I can't comment on any listings or any projects, etc. So we actually have strict policies that, even if we are talking with a project team, we forbid them disclosing anything about listings, etc. There's a lot of potential accusations or sometimes real leaks.
beforehand and they cause insider trading all these other problems. And I don't comment on specific projects, but I'll comment on meme coins in general. I personally never really understood meme coins that much to be honest, but there's many successful people
who do seems to understand it, including Elon Musk, everybody else, etc. So we go by users. So if the user community goes, you know, if a client to have a lot of users trading and wanting and playing with it, etc. then we will most likely well list it. And if the
If it's only last for two weeks, then we probably won't. But no, if it sustains, we probably will. Right. So, yeah, so that's we view coins from a user perspective. There's no guaranteed listing of any specific coin. There's no guaranteed, not ever listing a specific coin because no coins develop over time.
So, our meme coins, I don't really understand it, but we list a lot of coins I don't understand. I'm actually deliberately not involved in the Binance listing process. Number one, I don't have the time. Number two, I don't want to get involved. I don't want any, like each day I have a dozen people that reach out to me and say, hey, look,
listless to coin, why don't you list that coin? I don't want to be pushing any coin for listings because I don't want to be associated with that process. So we have an independent team that evaluates number one criteria is number of users, but we also look at other things. We look at token economics, we don't like coin
that have a very small circulating supply, like some coins have a very small circulating supply. So they have a large total supply that's in reserve. And with a tiny bit of circulating supply, some of the coins are famous and people want it and the price will be driven really high. But then the more supply comes
to circulation, the price may drop, well, most likely, will drop, or at least have a high risk of dropping. We try to avoid those kind of situations. So we're cautious around listing those double coins. Projects that have many different coins, teams that have many different coins that issue multiple coins, we're very cautious around
on those. But no, mean coins, there's quite a lot, right? And some of them do get a lot of traction. We listed sheep and it's actually one of the more higher trading volume coins on Binance and globally. So, yeah, we're not against it. We're not against any coin. So our team will
evaluated and we'll see what happens. Chris crypto? Yeah I'm here good evening I really appreciate it I don't get star start but you know I'm sitting in a room with CZ at my end so you know I feel really honored thank you for having up here one of the
things is like, you know, we have so many regulations in the United States and it's kind of ridiculous because they can't answer simple questions such as what is it? What is it? A security, right? And we all know that it's not. And another thing is, right, a lot of folks are thinking that what's going to be driving the next bull market is going to be
the western countries, but I honestly think it's not, it's going to be coming from the east. So what are your, what are the projection? Because I've seen like, I've seen Binance coming into the Mariana's with, with Palau, Palau is one of the areas that that's being
that has Binance in there, you have Guam, you have American Simo, you know, I mean like more expanding and I see in this room a bunch of future multi-millionaires and it's very the market is very early. You know, my question is how can we improve it because I'm like an even
evangelical crypto person and whenever I meet a bump into random folks, that's all I talk about is just cryptocurrencies. Sure. Yeah. Thanks for the question. I'm not an expert on the US market. It's like just personal feeling. This doesn't represent any views of finance, et cetera. Just personally,
It's a large country with multiple agencies, multiple regulators, multiple governments, this federal, the state, there's, I don't know, it's just, and then also there's two parties, I believe the government is now called by a party
I don't know how I don't know the right terminology for it. I think the mid-term election changes some stuff now. The government is not split or something like that. I think it's going to be tricky. We are target of legal lawsuits from federal agencies now.
So it's a tough market. I do see many entrepreneurs coming to other countries like UAE, France, Bahrain, etc. And also Hong Kong. So I see that from my perspective,
see a lot of things happening outside of the US for now. We did projects in Polo, that's a pilot, national digital ID project, and we're doing projects with many other countries. So I think my good theory is
And I see more development in countries where there are more regulatory clarity. And there are countries who openly told us, look, crypto is not a security, it's not a commodity, it's a new thing. And we said about new regulatory agency to regulate this sector.
like in Dubai, there's a barra in Abu Dhabi, there's ADGM. And for example, in Bahrain, the central bank is the crypto regulator, but it's also good in that sense. The central bank gives Bynast Elicence for to operate and the banks work with us because we're under the same
So other places are moving forward from my perspective other countries are moving forward in much has much higher clarity and of course then we spend more effort in those countries. So yeah, so I think it's going to be a difficult it's going to be difficult
to predict which country is going to drive the next bull market. Hong Kong is now making a big push. Hong Kong was quite conservative for quite a few years, in my opinion. But now they're making a big push to become more crypto-friendly. So we will be exploring more there.
but different times, different countries moving in different places. But I think the next bull market or the next trigger for adoption grows. It's going to be more innovation driven, it's going to be less regulatory driven. Regulatory is always catching up to what is existing in the market already.
So, regulators are really only looking at centralized exchanges for now. They're not looking at NFTs, D5, while some are looking at D5, but there's no framework. Some are looking at stablecoins because Luna, etc. But I think the next trigger, the next growth
it's going to be some new innovation. I think it's less so about the regulatory clarity is important for existing established sectors in the industry to grow more. So that's kind of my view. Yeah.
Yes, yes, thank you. Thanks for answering my request. Hi, CZ. I'm going to be a dad soon. Good news. I'd like to ask a couple of questions. First, do you have any kids? And secondly, when do you think kids should get involved?
and will buyments be able to allow kids to open like children's specific accounts to learn and play around with crypto because kids have pocket money but a lot of them can't open an account. Yeah, thank you. Yeah, so
That's a great question. I do have kids. I try to keep my family out of the public, etc. So I think they have their own privacy. They should kids to grow up in a relatively in their own world, not exposed to their dad's public exposure, etc. Especially in crypto.
I think it's really important. Kids should learn about crypto and kids will learn about crypto. Kids will grow up. No, thinking crypto is very native. Kids grow up in the internet and when we use internet, we like, no, I'm 46. When I use internet, I still think this is somewhat
relatively new when I was young, there wasn't much of an internet. But the next generation of kids that growing up, they were no, they were used crypto. They were very open to it. There's no resistance. They don't question, they don't question, oh, this is the magic internet money, etc. Internet is real to them. The fiscal world may be less real to them.
to some degree. There was previous suggestions about allowing kids to write a storm binus and then use Binus Academy, even maybe even Binus pay, etc. but maybe not trading, definitely not futures. So we should
have a tiered approach to what services are available to different people. And we should also make education contents specifically for kids. Right now, Binance Academy, those are contents are more for adults. Sometimes, you know, the way they talk, the way they, you know, they
It's more for an event. It's more more advanced than for kids. It is important for kids to learn financial concepts when they're young, so that this is a native concept to them. I truly believe that we shouldn't teach kids just no work hard, study hard, work hard, and learn a salary.
I don't think that works well in the future. The future is much more about entrepreneurship, innovation, etc. And also global commerce. With global commerce, you got to understand money. And there's quite a lot of stuff in there.
I think that's important. So we haven't done as good as good of a job in this area to be very frank, but that's something that we should be looking at in the future, I think. Thanks. Is it just on the topic of sort of future education? Do you think AI can have some sort of role in that?
So I think AI will play a big role in terms of education, right? So I'm having some problems hearing Hello can hear me So I think AI has a big part in education for sure most of the education is repetitive, right? So I think the well-trained
AI can answer questions and can also do tailored education that, you know, with AI, if the AI is teaching a million kids, the AI will collect feedback and then depending on how how kids progress and how kids do on quizzes, exams, which questions they miss,
questions that get, it can be a much, which area are they good at, which areas are they weak at, you could be a much more tailored educational experience and process. So, and I think AI has the power to do that now, we just need more graphics power to do the AI computations,
So, yeah, so I think it's gonna play a pretty big role. I think we're just at the tip of the iceberg. Also, yeah. And the other thing about AI, really, that's really good is AI is very neutral. If they're trained well, they will not have any political agendas, they don't have
So you'll be neutral, you'll be technology driven hopefully. I think the good AI's will be very good. Yeah. Absolutely. Adam? Yeah. GMGM. My question to you, CZ is NFT related. So probably
20,000 of the people listening to this, so you're going to hate me. But there's a lot of very prominent NFTs right now, but most of them are on Ethereum blockchain. Something a lot of projects have been doing recently is using this company called Layer 0 to
bridge some of their NFTs to finance. I guess I'm just curious if you've ever explored something like this or like getting more popular NFTs onto finance or if you've purchased anything like for example Pudgy Penguins bridge their littles onto finance.
Sure, so thanks for the question. I'm not an expert on NFTs to be very frank. We do have an NFT team and we have an NFT platform and they're building multiple NFT platforms. We have tried to build multiple ones and not all of them stuck. So.
So, Binance NFT platform is more of a centralized platform. I know of a team that's building a decentralized platform on the Binance chain as well. And I also know there are a couple other NFT platforms migrating to B&B chain.
But NFTs are the low transaction rolling, right? So you're not going to transfer NFTs back and forth like you do with the Ethereum or B&B or Bitcoin. So due to the low transaction nature of it, they're usually high values. So the transaction fee that matters less.
where the high volume transactions, the transaction fee matters more. So the B&B chain, when it was conceptualized, one of the main days for the B&B chain ecosystem is high capacity low fees, trying to reduce the gas fees on the blockchain, which is still a problem on
some of the blockchains, but which was a big problem a year or two ago. And NFTs wasn't quite the focus back then, so the architecturally, there's not a whole lot of advantage, and that's why we still see majority of NFTs on Ethereum, which is fine, which is great. But there are multiple initiatives
on the B&B ecosystem to try to enhance that and to try to win more NFT projects over etc. So hopefully with that they will come over. I personally have never bought a single NFT, but it doesn't mean I don't like NFTs, it doesn't mean I don't believe in the technology, I believe the technology
technology has huge potential. But I'm not an investor, I'm not an art collector. I don't do most things other people do. I just do only a very limited number of things and I try to do them well. I'm a builder. I try to build platforms for people to use. I don't
I also never bought a meme coin. I never traded futures and buy-nets. I never participated in my Binance launch pad or launch pool. So I never done any of those things. But I try to build platforms for other people to do them. So I'm not, I always view myself as the blacksmith that makes
I know tools for other people to use. I may not use them myself. At least not on a heavy basis. So NFTs, I think they're huge potential in the future and we're just at the tip of the iceberg. But I don't know, I'm not an expert on NFTs. I don't know how people value them, how much things are worth, etc. I just don't know that that well.
Cool. Serifu, what's going on next?
Hey guys, hey, you can hear me right? Yeah, yeah, so from Lido we're really excited to as Lido to expand to B&B and also we've seen recently you guys launching your own rack finance Ethereum. So just wondering what you think generally about the liquid stake in token market and yeah what the future is
for all these solutions out there. Sure, thanks for the question. I think Likus is taking general, we've seen 1.0 and now we're going to see what 2.0 and 2.0 is going to be much better. I think any new sector, the 1.0 is usually has, well, there's a lot of new
experiments are like a lot of excitement, but there's usually a lot of a few problems as well. I think, you know, we now understand that no, high yield doesn't last forever and high yield equals high high risks. But I do think that there is a very valid and working core working model for a lot of
for liquidity-stating, for eO generation, for loans, for DeFi, basically decentralized finance. So I think the second generation of projects will actually get to, we will almost like to get to more solid projects that have good fundamentals, good
good logics designed into the systems so that they last. And there's working business models there. I do truly know that they are working business models that can be built. So if you look at centralized exchanges, right? So Binance is probably the third generation in the crypto space. You know, there was the pre-Mongots,
And there was like a 2013 to 2017 phase and then by the start of 2017 we were nowhere near the first centralized changes. So I do think that the liquidity-staking is a huge potential. So we just again we just at the beginning. So yeah, we
That's also why we support and we invest and we list multiple liquid-staking projects. Thanks, is it? I hope we got time for a few more questions. Yeah, maybe we'll finish it for 15 minutes. Perfect. Crypto King, would you like to go?
Okay, we'll move on. Your poppy there.
Hey, hi, sorry, I was weird that was. Thank you for letting me speak to everyone and thank you both for letting me to ask you something since fluky here as well. I want to ask you something, you know, first I would like to congratulate them for being listed
on Binance US. Just wanted to know that since they are already floated, are there any flexible terms and conditions or criteria for floated to be listed on global Binance or it will be the same for the entire tokens?
Yeah, I mean, as I said, I don't discuss listings at least, you know, especially now publicly, not specific projects, etc. We have a team reviewing it and whenever they feel that the project is ready, we will list. Yeah, that's as much as I can say.
So most projects is much better for them to focus on the project, to just focus on their users and when they get a large number of users by their as well list. Great. You'll help read that. Yeah. Yeah, I'm here. Can you guys hear me? Yep.
Yeah, just I guess since I might be the last question to get the elephant out of the room. You know one of the biggest things that we're seeing you know in the meme space, Twitter, social media, centralizing
changes has just been insanity and if you don't want to comment on it it's fine but I'm just wondering if you guys have been seeing this new Pepe craze here in 2023 and what your thoughts are on it.
I think somebody asked this question like, you know, 20 minutes ago. So yeah. So yeah, I talked about it already. I don't want to repeat. I don't want to waste everyone's 4,000 people's time. Yeah. Cool. We'll move on. Thanks, easy. OK, we'll have one more last question. Maya, are you there?
Hi, so I was connecting. Yes, thank you so much. I just heard your tip that if the token is getting large numbers, it's going to be listed. That's a very good tip. We are launching something in DeFi. I can't disclose anything yet. But can you just tell us what we're going to do?
would be considered a large number and if you have any tips for someone who is launching something in DeFi. Sure, so that's a valid question, right? So I get this question a lot. It's like, okay, so you say large number of users you will list. What's that number? You know, 100,000, what is it?
We don't say a specific number because it's actually quite difficult to say and also if we say a number people will game it right so if we say look 100,000 is the number what is that is that the active addresses on blockchain or that Twitter followers or what is if we say okay it's a hundred
100,000 active addresses. Tomorrow, everyone will have 100,000 active addresses. You can write a script, generate addresses, and you send point, you do an airdrop to all the addresses, then you have 100,000 active addresses. So the numbers could be engineered. Numbers could be gained. So that's why we don't talk about a single number.
our team do look at and also different projects are different right so we're talking about a huge every project in the ecosystem some are high end user targeted and some are you know really mass consumer oriented and the numbers will be a little bit different so we do look at you know if it's a blockchain
project, we look at number of active addresses, transaction volume, TVL, number of wallets supporting it, trading volume on smaller exchanges, Twitter followers, Discord channels, Telegram groups, etc. We looked at a lot of stuff. We believe it's quite
difficult to fake all of them. It probably takes more effort to fake all of them than to build a product itself. But we don't talk about a specific number because if we talk about a single number, it can begin. So that's something I have to explain over and over again to people.
It is what it is. So there's many different ways to measure success. You should use your own metric to measure your own success. And when you are successful by, no, by by by most meaningful standards, we will list. But there's also a little bit of selection process, right? So we can only
So, I think today we list about 700 coins and there's probably 6 million coins in the space that's on the blockchance. So, we try to list the top coins. The other device I give is many new projects want to one balance to be that
first exchange the list. I mean, that's great. But that's great for the project. But it's high risk for financing, it's high risk for our users. We would much prefer to see the exchanges, to see the project listed on other smaller exchanges, have traction. The price performance is good. User traction is good. The community feedback is good.
We look at comments in the community too. If it's just a bunch of bots talking to each other, then we don't like it. But we also get a feel just from my friends, how many people I follow, how many people are talking about these projects, etc. So we get a feel for that. So it's not a pure,
Now, it's not an absolute number driven system. It's, that's your human judgment involved. But we try to take a holistic view, look at multiple numbers, multiple matrices. And also, if we see a game, if we see any faking in numbers, any engineered numbers,
and in numbers that are at a whack, we actually deduct points. So for example, if a project does have a script to generate a lot of daily addresses, but the Twitter silent on that project, telegrams silent on that project, then we actually know that that project is probably just faking it. And actually, we actually deduct
points for that and we track project over time. So just because a project doesn't list on day one, doesn't mean we will not list them in the future. So yeah, so that's why we can't we can't give very specific guidelines on okay, no Twitter followers how many that we can't that we don't do because yeah people game it.
All right, I think we ran over a little bit. I actually do have to hop. Yeah, thanks for joining the call or joining the MA. We'll see you next time. Thanks for the support.
Thanks, Tissuesy. Thanks everyone for joining. If you did raise your hand and we didn't want to get to you, please stay tuned because we're doing more of these and I'll keep an eye for you next time. So have a good day. Bye.