投资洞察

Binance CEO outlines future blueprint: not chasing IPO trend, focusing on century-long plan

Binance welcomes new CEO Richard Teng, who took over from Zhao Changpeng (CZ) in November last year and is now drawing a grand century-long strategic picture.

In a recent in-depth interview, Teng revealed that despite market speculation, Binance is not considering an IPO at present because its financial situation is sound and no financing is needed.

On the other hand, although Binance's former CEO Zhao Changpeng withdrew from daily operations due to a settlement agreement with the US government (CZ began serving a four-month sentence in June), his partner He Yi is still involved in the company's affairs. Teng also affirmed He Yi's identity as a "key member" of the management team.

When faced with compliance issues, Teng admitted past mistakes and said that Binance has paid a heavy price for this. Teng also said that Binance's goal is to build a sustainable century-old enterprise.

As the new helmsman of Binance, Teng is working to transform the company from the founder-led model at the beginning to a more mature, board-led organization. This transformation means that Binance is pursuing more standardized and transparent management to lay a solid foundation for long-term development.

In the face of speculation about the wave of IPOs of cryptocurrency exchanges, Teng also said that Binance is in good financial condition, has been profitable since its operation, and is very cautious in spending. At the same time, he also emphasized that Binance is working closely with global regulators to ensure the compliance and sustainability of its business.

Although Teng remains mysterious about the specific location of Binance's headquarters, his attitude of looking for a permanent home for Binance shows his global vision and ambition. At the same time, he said that Binance is looking for markets outside the United States and will focus more on development opportunities in other parts of the world.

Teng also said that although the public is eagerly looking forward to the upcoming US presidential election, the election results have no impact on Binance's business! Does this mean that Binance will abandon the US market?

Teng's century-old strategy is not only a thoughtful consideration of Binance's future development, but also a contribution to the entire cryptocurrency ecosystem. As investors, how should we think about this strategy?

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📊10x Research: Bitcoin is expected to reach $70,000 in the next two weeks and hit a new high at the end of October

10x Research said in its latest report that since the Fed's September rate cut, Bitcoin has risen by 5%, Ethereum has risen by 11%, and altcoins have also ushered in explosive growth.

As stablecoin minting accelerates, Chinese OTC brokers report billions of dollars in inflows, and the cryptocurrency market is flooded with liquidity, indicating possible further gains. Bitcoin has broken through $65,000 and is expected to rise to $70,000 quickly and may hit a new all-time high in the short term.

After the July FOMC meeting, the Federal Reserve postponed its decision to cut interest rates, and stablecoin issuance surged, with nearly $10 billion in stablecoins flowing into the market. The increase in inflows of Circle and USDC indicates an increase in allocations by large market participants, and DeFi activities have also increased. So far this year, stablecoin inflows have reached $35 billion, with a total value of $160 billion.

However, after the FOMC meeting last week, Bitcoin's dominance weakened, Ethereum's gas fees soared, and altcoin activity surged. Altcoins could gain more momentum if the Fed continues to cut rates. Retail cryptocurrency trading activity in South Korea also supports this trend, with daily trading volume currently around $2 billion.

Currently, the market focus is on Bitcoin's recent breakout above $65,000, with a target of $70,000 in the next two weeks and an expected record high by the end of October. A rebound in the fourth quarter is highly likely, and the gains may have already begun.

💼 Viewpoint:

Historical experience tells us that when market sentiment is too optimistic, risks are often hidden. Currently, despite ample liquidity and strong capital inflows, market volatility and uncertainty remain. Therefore, while pursuing high returns, investors should not ignore risk management.

The cryptocurrency market is known for its high volatility, and rapid price increases are often accompanied by the risk of a pullback. Therefore, investors should do adequate research before entering the market, develop a reasonable investment plan, and consider diversifying their investments to reduce risks.

👇What do you think of the current cryptocurrency market trend? What is your investment strategy when the market is bullish?

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🔊Does the low volatility of Bitcoin spot ETFs bring more stable investment returns to option selling strategies? 🚀

According to the latest chart strategy forecast released by Matrixport, Bitcoin's volatility may continue to decrease, which means that Bitcoin's price may not fluctuate much in the future. This is good news for option sellers, because they can earn additional premiums by selling options and increase Bitcoin's investment returns.

Imagine that Bitcoin's volatility has decreased, then option selling strategies may become a new favorite for investors. Despite the two short-term losses in the third quarter of 2023 and the end of the first quarter of 2024, this selling strategy may bring more stable returns in the long run.

Moreover, with the launch of Bitcoin spot ETFs, this huge volatility trend is expected to decrease more significantly. At the same time, a low-volatility environment is simply a boon for option sellers and is expected to become an effective profit strategy in the coming months.

However, it is a reminder that in the world of cryptocurrency, every small change may have a huge impact. So, although the forecast data points us in the right direction, we still need to be more careful when investing, and don't just rely on data analysis and forecasts to make investment decisions.

💬 Finally, what do you think? Do you agree with the view that Bitcoin's volatility will decrease? If you agree, would you consider adopting an option selling strategy? What do you think of Matrixport's forecast? Leave your opinion in the comment section!

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