1. The relationship between Labs and Binance

1. Binance Labs has been renamed to Yzi Labs and operates independently. Ella Zhang is in charge and CZ directly manages Labs. Currently, there are thousands of projects being invested in, and only a very small percentage of them are listed on Binance. From now on, these are two completely independent teams, each making their own decisions.

2. The coins listed on Binance are isolated by multiple layers of firewalls, but one undeniable fact is that if Binance is willing to give a certain amount of coins to users in the form of airdrops, it will serve as a reference indicator.

3. Information about lab staff and public investment projects, as well as the names of other investors in the market. Investment information is essentially public information in the market. If there are bribery records, we welcome evidence and even more public oversight. If any employee of Binance or connected to Binance requests money, shares, or tokens from any project or partner, we will imprison them and ruin their reputation.

Reports about the labs can be sent directly to CZ or Ella. Reports about Binance and He Yi are welcome to be sent to Binance's public internal audit email address. There is always a reward for reporting.

2. He Yi and her best friend

1. Every day, there are countless people in the market claiming to be the girlfriend, friend, or relatives of Ha Yi, exploited for personal gain. Some even claim to be CZ's godchild or Ha Yi's fiancé. Please do not be deceived. He Yi denies the rumors. Countless times, but it cannot stop people from believing in the so-called backdoor. Traditionally, Labs has always welcomed any other investment organizations to introduce projects. Labs welcomes any organization or project party to become "Labs' girlfriend." I hope Labs and all practitioners in the industry, investors, and stakeholders become close friends.

2. Considering that people are too obsessed with "He Yi's best friend," Labs is currently managed directly by my best friend Ella, who is also one of the original founders of Labs. If you firmly believe in your best friend, you are welcome to contact Ella and become friends with Labs.

3. As a co-founder of Binance, I believe in "users first," so whether you are a retail investor or a practitioner in the industry, whether it is a product proposal or a management proposal, I will listen carefully. If there are any KOLs, retail investors often say "He Yi hears me" and show the conversation records; on average, I have more than 100 such conversations each year, and I welcome more effective proposals.

3. What problems does the market have?

As a BNB holder, I practice "value investing." I firmly believe that whether in business or investment, value creates price, and each person's understanding of value is different. The following are just my personal insights.

In the 17-year cycle, all web3 entrepreneurs flocked to infrastructure, as infrastructure projects are highly valued and only require a small elite group. There is no need to consider business models or revenue. At that time, everyone said, "Look, "Obscure projects have no value," including the newly launched BNB.

Over time, the so-called impossible triangle of decentralization, speed, and cost has been broken. In 2021, we welcomed DeFi, Metaverse, and GameFi. However, today, the overall price of currencies is not doing well. Because no one wants to touch the high-voltage lines of security tokens, even if the infrastructure is complete, the most successful application trading platforms and stablecoins in the industry are struggling with regulatory policies.

The essence of this market growth in the past 24 years is an increase driven by the entry of traditional finance and ETFs. The biggest problem in the cryptocurrency circle today is the lack of "efficient/high-quality assets," and in any market investment, quality assets are a scarce resource. By the end of the year, we welcomed Trump, a cryptocurrency-friendly president. The regulatory trend in the U.S. has continuously fueled the market's warmth. We hope that new policies will allow entrepreneurs in the cryptocurrency field to provide value for future tokens, not just a governance token or a meme as a cultural phenomenon; of course, there will be no risk without corresponding value.

On the night before crossing the gap, no one cares about complete and endless infrastructure projects. Once applications are put in place, they can reach high policy pressures. The winners before dawn are memes, bubbles, and nothingness. After all, no one needs to take responsibility.

But dawn will eventually come.

4. Thoughts on practicing the value of the cryptocurrency circle

The cryptocurrency industry has been widely criticized for its lack of value since it was a group of geeks over ten years ago. In countless AMAs, I have said that if AI is a revolution in productivity, then blockchain is a revolution in the relations of production. Projects often do not generate "labor results." Whether it is seemingly creative on-chain interactive airdrops or xx for making money, form is more important than content. After all, there is no rice in the pot. How can you cook rice by just adding water, right? Innovations in models can bring popularity, but if they do not create value, they will ultimately return to zero.

The unique asset issuance model of the cryptocurrency industry allows any entrepreneur to quickly become a "successful person" with assets worth tens of millions or even hundreds of millions after obtaining TGE tokens. After all, it is not unusual for 1-3% of tokens to be put into circulation online; they can arbitrarily increase prices in the market and gradually sell to users on-chain or on trading platforms. If they can achieve "financial freedom" just by issuing coins, how many people can stick to their original intentions and become "value creators"? I said this when ICOs became popular in 2017. Your "success" is just a one-time collateral for your lifetime reputation, not equivalent to cashing out through an IPO.

Success goes against human nature. The law of the universe is that wealth will be distributed to those who do not love money, but to those who want to make the world a better place. If BNB is worth $10 and the Binance team sells, there will be no BNB aimed at $1,000 at the current time, and there will be no Binance at this time. I often say that if a person only wants to make money, then that person will probably not succeed. Those who can create quality assets must not only have the ability to change the world but also possess character. If you are such an entrepreneur, you can definitely contact us in any way.

Though the road is long, there are always torchbearers against the wind.

V. On public opinion and criticism

In 2018, I had to endure an unfounded slander. A Reddit post fabricated a story that I discriminated against a female entrepreneur in an attempt to drive me out of Binance. At least one point in the article is true: "He doesn't speak English."

In 2019, I encountered the rumor of "free underwear" in the China region, and this rumor is still reported by mainstream media to this day, but one thing is true: "I had a quarrel with someone in the group." At that time, I still cared about public opinion. I tried to explain every misunderstanding between Binance and me until I felt like Liuzi had cut open his belly to prove how many bowls of noodles he had eaten. I began to learn to turn darkness into a source of nourishment and use pain to refine my soul.

Sabotage is always easier than building. Every day, countless people suffer losses due to market fluctuations, and they can easily blame He Yi. Ugly insults have long become a daily habit. Black, white, and gray are all part of this world. The higher the goals, the greater the resistance; wanting to do some things and not do some things will inevitably affect the interests of others. Rumors are the cheapest pollutant, but no successful company uses rumors to manage their business, and no successful company relies on rumors to survive.

When you are a woman, on this day of Lunar New Year reunion, there are still many women in the vast land of China who do not deserve a seat at the dining table. The dining table is something only men deserve. They can easily create a whirlwind by just writing down a few names and telling a story, but I need to use my pen like a knife again and again, cutting open their bellies and showing my feelings, yet I still cannot prove myself. It is necessary to ask the internal audit department to investigate all the repeatedly mentioned employees to find out who Chris is? If you have evidence of any employee involved in bribery or insider trading, please contact us.

We welcome evidence. Any evidence can bring the bad guys to justice and create a clean space for the industry.

We welcome criticism; criticism forces us to reflect.

Believe in the light; time will have the answer.