A call to my poor VC peers and the managers of several VC funds I have invested in: Even if no one treats you as the golden patron, let’s not be bullied into submission, okay? Recently, there was a project about to have its TGE, and the founder came over confidently saying that all the other investors agreed to lock up their funds, could you also agree? I was left with a face full of question marks. The terms in the agreement are clearly stated; how can you just change them and act so self-righteous? What’s the point of signing an agreement then? Did the other investors consider the interests of the LPs at all? Excluding charitable investment institutions here. The altcoin market is indeed not great, but not all projects are failing. Excellent projects will actively help investors find OTC or buybacks to solve the selling pressure issue, rather than postponing the problem. As for the failing projects, to put it bluntly, closing down sooner rather than later would be a more responsible approach to the market, rather than dragging it out to try to squeeze out a bit more profit before running away. @heyibinance said many years ago, the gist being that founders issuing tokens are betting their entire reputation, and I deeply agree. New entrepreneurs often say that fundraising for Chinese projects is difficult, and one major reason is that too many of your predecessors have exhausted the credibility of this group. It’s important to know that the spirit of contracts is the most important business ethic. Some project parties will say that the additional lock-up terms are mandatory requirements from Binance. Regardless of whether it’s reasonable or not, it’s their freedom to set whatever conditions they want for their exchange, but whether you accept it or not is your freedom. We have an overseas project that last year rejected a large amount of free tokens offered by Binance in exchange for listing, and it has not been listed on Binance since. This caused quite a stir in the overseas community. And the result? It’s now developing very well, trading on many other exchanges, including Upbit, and its market cap is higher than 90% of the projects on Alpha. Binance is not the only option. For the price to rise, the core still lies in having a quality project and strong consensus, rather than trying to prevent those holding tokens from selling. A healthy market requires both buying and selling; a low market cap that gradually rises is characteristic of an excellent project. BTC, ETH, SOL, and all other excellent projects have basically gone through this process. And those projects without institutional liquidity, where the project team can highly control the market, playing tricks with high FDV and low liquidity, are mostly just trying to cut the retail investors. Investors should not encourage project parties to do this. This kind of play is called market manipulation in traditional financial markets, and it’s illegal.

Liberal arts students may not be very sensitive to numbers and prefer expressions like "a waterfall cascades down three thousand feet." At the Bitcoin conference in Vegas, the CEO of Tether stated that the percentage used for crypto trading has already dropped below 40%. If anyone did a bit of research, such a ridiculous figure of 95% would not appear, which makes people uninterested in reading the second part.

Congrats! Binance has finally started to support the BTC ecosystem on a large scale. If I'm not mistaken, at least 10 BTC ecosystem projects have been launched in the past six months. Better late than never; good projects can withstand bull and bear markets. P.S. Considering both performance and cost, building applications on the Lightning Network is undoubtedly the best choice, especially for high-frequency small transactions, as traditional blockchains are almost unusable.

The first time Bitcoin broke through $10,000 was at the end of '17, and the first time it broke $100,000 was at the end of '24, which took 7 years. And from $100,000 to $100, I think it will take much less. In the face of the massive dollar issuance, the volume of BTC seems so insignificant. We'll see。

During the ICO boom in 17 years, a very important reason for advocates was that ICOs were fair for everyone, and good assets could be bought by retail investors and institutions on the same terms. This is very rare in traditional finance, and almost all good assets are advanced institutions, advanced small circles, and ordinary people are taking over the wheel. It's just that the next story didn't follow the original script, the extremely low threshold for issuing coins brought about the indiscriminate issuance of tokens, as well as the expulsion of good coins from bad coins, coupled with a large number of VCs, retail investors gradually became the weak side and exited liquidity in the game of token issuance. The current RWA boom is actually an upgraded version of the ICO, allowing retail investors to buy good assets from all over the world, not just the current US stock tokens. JUST IMAGINE, ARGENTINIAN BOND TOKEN, PAKISTAN'S MINERAL TOKEN, RUSSIA'S ENERGY TOKEN, AND EVEN FRANCE'S WINE TOKEN, THESE ASSETS THAT ORDINARY PEOPLE DO NOT HAVE A CONVENIENT WAY TO INVEST IN CAN BE BOUGHT ON THE CHAIN THROUGH RWA TOKEN IN THE FUTURE. Ordinary people only need to research whether the issuer is a licensed large institution to ensure that they can redeem it and not run away. RWA makes investment more and more fair, the test is more of the investor's own cognition, rather than the origin and circle, which is the original intention of Bitcoin and blockchain, anyone can buy Bitcoin at any time, at this moment before the purchase of Bitcoin is profitable, and it is normal for retail investors to hold more coins than institutions. --- written on the occasion of BTC's xxxth ATH

This app is so needed, Freedom of Communication!

Not an FTX creditor, but I highly advise Chinese creditors not to swallow their anger. This reminds me of Blockone's EOS, when I bought more than 100,000 BTC with ICO "cheating" money and then ran away, most of which were Chinese. Some Americans can't swallow their breath, engage in lawsuits or class actions, and get back a lot of money, but they have never heard of a Chinese doing similar things, and of course it is impossible to get it back. Don't be afraid to fight a lawsuit in the United States, although it is expensive, but the United States is a place where the law is spoken, as long as you are justified, you don't have to be afraid. At the beginning of the year, we and several other investment institutions just won a lawsuit in the United States that spanned more than three years, suing an unreliable project party for cheating money, and the lawyer fee spent a lot, and the return was not much, and the inside and outside made a small profit, but after all, it was very relieving to let the unscrupulous people pay the price.

See you in Hongkong! BTW，we are going to host a side event on 28th August for"Crypto related listed companies"，keep tuned!

Recently, the popularity of currency stocks has made many people more anxious, afraid of missing this bus. Not necessarily. There is a truth in the currency circle, every time you are afraid that you can't get in the car and don't know what to buy, you will increase your position in Bitcoin, which is correct, because all the benefits of the crypto industry are ultimately the benefits of Bitcoin. In addition, this Thursday night, I will chat with friends from crypto securities companies about currency stocks, and if you have any questions you want to ask, please leave a message.

The popularity of this wave of currency stocks really has a tendency to catch up with and surpass the 17-year ICO, and traditional giants from small brokerages such as Shengli Securities to large brokerages such as Guotai Junan have entered the game, while a large number of Chinese and state-owned enterprises are running to enter the market. In fact, there are two types of projects that can be played in the future, one is completely decentralized applications that do not need to be regulated, or cannot be regulated, and do not need to be regulated, such as on-chain DeFi. The other type of people who involve centralized links must go through the regulatory channel, otherwise there is no future. Countless examples have shown that human nature is unreliable, either by code or by regulation, but where there are people involved, there will be cats, and in the end, bad money drives out good money, and the whole industry has no play. Now is the Trojan moment for crypto to attack traditional finance. Traditional finance thought that the currency circle was compromising with them and entered the field they were familiar with. But the assets behind all these coin stocks, the root is on the chain, and they are all dominated by the cryptocurrency circle. If the scale of currency stocks expands by 10 times, the impact on traditional finance will not be negligible.