Dialogue with He Yi: CZs withdrawal was a challenge, calling on Wall Street to put aside prejudices and co-prosper with

Original title: He Yi shares Binances three core values, calling on Wall Street to put aside prejudices and thrive with cryptocurrencies

Original author: AC, BlockTempo

The Binance Blockchain Week Dubai 2024 conference hosted by Binance, the worlds largest exchange, was held in Dubai from October 30 to 31. Binance specially set the theme of this conference as Momentum, aiming to show how the crypto industry has accelerated its growth and achieved important milestones in the face of challenges since the last Istanbul Summit.

On the first day of Binance Blockchain Week 2024, a fireside chat that is highly anticipated by global industry professionals will serve as the closing session of the first day. Binance co-founder He Yi and CoinMarketCaps Alice Liu will have an in-depth dialogue to discuss their visions for the future of Web3. The theme is Driving Momentum: He Yi on Binances Vision.

Strive to achieve two kinds of financial freedom for users

Alice Liu: I would like to ask a question about the corporate culture of Binance. What are the core values and cultural elements that have not changed since the founding of Binance?

He Yi: Many people ask me, how did Binance succeed? The main difference between Binance and other startups is that we have a unique culture. At the same time, if you look at the most successful companies in the world, they all have very special cultures. I believe that culture is the only element that can bring people together. Culture is sometimes difficult to explain, but it allows us to find people who share the same ideas as us in innovation, mission, and evaluation.

I believe that culture is the only thing that can bind some people together, and if we just look at finance itself, first of all, I think we have a strong vision, we talk about financial freedom, and Binance wants to build a simpler network for these people to easily get financial freedom.

“Financial freedom has two meanings: one is financially free from having to work, and the other is financial freedom that is simpler and has better services. At Binance, our users expect to get rich and achieve financial freedom through trading, and they also expect better services and user-friendly products.”

We are not limited to transactions, we also have revenue, skills, academy and payment functions. Some business units may not bring direct revenue, but they build a good infrastructure for our community.

He Yi also emphasized Binance’s three core values: responsibility, accountability, and humility. She mentioned: “No matter where we are, our team members will be responsible for their work and impact.”

We at Binance advocate a user-first culture. There are still many entrepreneurs in the industry who are really working hard to improve the world. User-first means that we are truly building what users need, rather than just promoting so-called junk coins. There are still many builders in the industry who are constantly working hard, which touches me very much.

Admitting that CZ’s exit was a challenge

Alice Liu: Binance has faced many challenges in the past few years. Which challenges do you think are the most important for Binance?

He Yi: I think for Binance, many people believe that last year’s decline was the most challenging moment. As a startup, when the founder stepped down, it was a major challenge for the team. However, we have a good direction – we hope to build this company into a mature organization, not just a startup.

Our goal is to form a strong team that works together to support the companys growth. Startups often rely on certain unique skills of the founder or co-founder to compete, such as excellent marketing or technical capabilities, but as the company matures, we need sound organizational policies and environment to ensure that the company can continue to grow even without the founder.

“We are working hard to do this. Fortunately, we are running well and still leading the industry. There are two main challenges: one is the internal organizational challenge, which we have already solved; the other is the external environmental challenge.

Ten years ago, no one cared about cryptocurrency or Bitcoin, but now the crypto industry is getting more attention and regulators are paying close attention to the industry. I think this is a good thing because at least we are starting to become part of the traditional financial world.”

However, different regulators have different understandings of our industry, and as a result, we are collaborating more with the traditional financial world, although some crypto-native enthusiasts may ask me if I feel like I am no longer a part of the crypto community as we collaborate more with regulation and traditional finance.

“I think if we want to really support more people around the world to use cryptocurrency,

Dear Wall Street Traders,

We should cooperate with traditional finance and understand each other.

We don’t want to be an isolated business, we want to make the crypto world more popular so that users like my grandma can use Web3 directly, just like using a mobile phone.

Alice Liu： Great, as you mentioned, its about long-term vision and planning, and observing the long-term development of the industry. Congratulations, Binance now has 233 million users, which is a great achievement. I want to know, as a leader, what are your future plans?

He Yi: I think this can be divided into two parts. First, we want to continue to strengthen our internal organizational strength and build a strong structure. I have been talking about how to build a company that is solid enough so that it can continue to grow.

Externally, our industry is at a special moment where we are seeing many traditional and emerging technologies (such as 3D printing) approaching life, and cryptocurrency also has this potential. It is important to make this technology truly integrated into peoples daily lives.

Our goal is not just to enter the industry and push up prices, but to build a better future. We should work together to promote the development of the industry. Therefore, we look for innovative new startups that bring practical application scenarios to the world, not just limited to transactions, so that the entire industry can use them.

It’s normal that people often ask me if I still believe in cryptocurrencies, even though there are still many startups in this space. I do, because I believe in something, and I act on it. This is the power of positive belief – such as

If you look at the world positively, you will create a positive environment. Of course, positive beliefs alone are not enough, you also need to go all out. Failure is normal, but we should keep trying.

Next year will definitely be a good year

Alice Liu: Great, I have one last question. This year is a very special year for us, with ETFs and more regulations. What positive signals do you want to share with users?

He Yi: When we talk about regulation and ETFs, it means that we have become part of the financial world, which is a positive sign. Today, the price of Bitcoin is also rising.

“I have been in this industry for more than 10 years. Every time there is a bear market, many people will tell me that Bitcoin has failed again. Bitcoin has failed again and again, but I always believe that it will continue to grow like a cycle.”

If you ask me, I am sure that next year will be a good year. This is good news for both the industry and users. At the same time, we can see more and more practical applications emerging. Unlike 10 years ago, cryptocurrencies are already helping people in many countries improve their lives. For example, more than 12.5% of users in a certain country use Binance every month. They use it not only for trading, but also for payments and transfers, and even to make money.

“This is not just a transaction, but a process of changing the world and building a business model. Stablecoin is a simple tool, but it has begun to play a role. It is no longer just a dream. I hope everyone can understand that a better future is coming, and what we have to do is not to wait, but to seize the opportunity at hand.”

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