Original title: "He Yi shares Binance's three core values, calling on Wall Street to put aside prejudices and prosper with cryptocurrencies"

Original author: AC, BlockTempo

The Binance Blockchain Week Dubai 2024 conference, hosted by Binance, the world's largest exchange, was held in Dubai from October 30 to 31. Binance specifically 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 be the closing session of the first day. He Yi, co-founder of Binance, and Alice Liu of CoinMarketCap will have an in-depth dialogue to discuss their vision for the future of Web3. The theme is "Driving Momentum: He Yi on Binance's Vision".

Strive to achieve two financial freedoms for users

Alice Liu: Since the establishment of Binance, I would like to ask a question about corporate culture. What are the core values and cultural elements that have not changed since the establishment 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 our innovation, mission and evaluation.

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

"Financial freedom has two meanings: one is that you don't need to work financially, and the other is to provide financial freedom with simpler and better services. At Binance, our users expect to get rich and achieve financial freedom through trading, and they also want better services and user-friendly products."

We are not limited to trading, but also have revenue, skills, academy and payment functions. Some business units may not bring direct revenue, but they have built 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 advocate a "user-first" culture at Binance. There are still many entrepreneurs in the industry who are really working hard to improve the world. User-first means that we are really building what users need, not just promoting so-called "shit coins". There are still many builders in the industry who are working hard, which makes me very moved.

Admitting that CZ's exit was a challenge

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

He Yi: I think for Binance, many people think that the decline last year was the most challenging moment. As a new 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 collaborates with each other to support the growth of the company. 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 here: 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 has received 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, so we are cooperating more with the traditional financial world, although some crypto-native enthusiasts may ask me if I feel like I am no longer part of the crypto community because of our increased cooperation with regulation and traditional finance.

"I think that to truly support more people around the world to use cryptocurrency,

to the respected Wall Street traders,

we should cooperate with traditional finance and understand each other."

We don't want to be that kind of isolated business. We hope to make the crypto world more popular, so that users like my grandma can directly use Web3, just like using a simple mobile phone.

Alice Liu:Great, as you mentioned, this is about long-term vision and plans, 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 in it, what are your future plans?

He Yi:I think this is divided into two parts. First, we hope 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. We see that many traditional and emerging technologies (such as 3D printing) are approaching life. Cryptocurrency also has this potential. It is very important to make this technology truly integrated into people's 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 into the world, not just limited to transactions, so that the entire industry can use them.

Although there are still many new startups in this field, it is normal that people often ask me if I still believe in cryptocurrency. I do, because I believe in something, I will take action. 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 belief alone is 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 to ask. 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, just like a cycle."

If you ask me, I am sure that next year will be a good year. This is good news for the industry and users. At the same time, we can see more and more practical applications. 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 not only use it for trading, but also for payment and transfer, 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 of the moment."

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