About the Market
- BTC is below ATH, investors are disappointed. But fundamentally everything is strong: stablecoins are growing, tokenization of real assets is gaining momentum, institutions continue to accumulate. Spot BTC-ETFs have returned to net inflows on a 30-day basis. About 18% of all BTC is held by governments, ETFs, and corporations - an unprecedented figure.
Strategy for 12-24 months
- Short-term - macro pressure: war in Iran, delay in Fed rate cuts, volatility. Long-term - the GENIUS Act creates clarity, the rest of the world is forced to catch up with the US. Hong Kong has already issued two stablecoin licenses. The same will happen after the adoption of the CLARITY Act.
Super App
- Binance's main goal this year is to become a global multi-asset platform. In three months, trading in gold and silver has grown from $1.5 billion to $9 billion per day. Binance accounts for 41% of the trading volume of precious metals among all platforms. Pre-trading of company shares before IPOs has been launched, further expansion into all asset classes is expected.
CZ and Management
- CZ remains a key shareholder and influential figure - both within Binance and in the industry as a whole. Teng recommended everyone read the book Freedom of Money. According to him, the real story of Binance is more interesting than any TV series. Key corporate decisions require shareholder approval - CZ as the controlling shareholder participates in such decisions.
Quantum Risks.
- The risk for crypto is somewhat exaggerated: traditional financial institutions operating on outdated systems will be attacked by quantum computers first. Crypto will evolve quickly and minimize the risk.
Strategy and Saylor
- Teng is personally acquainted with Saylor, highly appreciates his risk management. Believes in the four-year BTC cycle: "Every time people declared crypto dead and invested money - they came out very satisfied."
WLFI and Justin Sun
- Strategic investor MJX paid for a stake in Binance with USD1 tokens - Binance simply accepted this payment. Teng has no insights into the WLFI and Sun conflict.
Conflict between CZ and OKX
- The public spat between CZ and OKX head Star Teng was called a "storm in a teacup," noting that both have known each other for a long time. He urged the industry not to be distracted by personal conflicts and to focus on the joint development of the ecosystem: "We are still at a very early stage, and by working together, all participants only benefit."
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