Organizer: A Fish CoolFish

Source: Binance Square Live AMA

Broadcast date: February 12, 2026 (Eastern Time)

Key Summary

In this live AMA, Binance founder CZ had an in-depth exchange with the community on topics such as Meme coin investment strategies, market cycle predictions, the impact of regulatory bills, developer recommendations, and personal values. CZ emphasized that while he cannot predict short-term market fluctuations, he is confident in the long-term development of the crypto industry and shared his views on RWA, Agents, AI integration, and personal future focuses.

Highlights of Insights

• Meme Coin Investment Advice: The sustainability of Meme coins depends on the strong cultural elements and follower groups behind them. Ordinary investors should treat them with caution and avoid blindly following trends.
• Market Cycles and Policies: Markets are difficult to predict due to various influencing factors, but the support of the new US government for cryptocurrencies is a positive signal.
• Advice for Developers: Short-term price fluctuations should be ignored; focus on building applications with real utility. Maintain a continuous flow of product updates and engage extensively with the community.
• On Regulation: Regulations that provide clarity are a good thing. Although there may be compromises in the bill, establishing a framework with the capacity for iteration is crucial for the industry.
• Personal Wealth and Motivation: CZ stated he is not focused on money, but values health, family, and making a positive contribution to society. Currently, he is dedicating his energy to meaningful projects like Giggle Academy.
• Industry Trends: RWA (Real World Asset tokenization) is an important trend; the integration of AI and cryptocurrency in payments is expected to land the fastest.
• Addressing FUD: The best way is to ignore it, protecting mental health by blocking out noise and sticking to being your authentic self.

......

Cousin Wants Freedom: I have a simple question. Since Binance now supports Meme tokens on-chain and we usually buy a lot of them, you mentioned in your tweets that those FOMO-type meme tokens are bound to lose money. What do you think ordinary people like us should do with these Meme tokens, or how can we play them well?

CZ: I once tweeted, if you buy all the meme coins created based on my tweets, you are almost guaranteed to lose money. I think people may interpret this differently and may over-interpret. Many people created meme coins based on my tweets, and if you buy them all, you will not succeed. I am not a good meme coin trader. I don't know what the right strategies are that successful meme coin traders use. But if you buy all meme coins created based on my tweets, you will definitely lose money; I think that is very certain. People may distort this.

But I believe that if you are a meme coin trader, you must develop your own strategies. I don't know what the right strategy is, but I think meme coins must have very strong cultural elements to be sustainable. If you look at some lasting coins like Dogecoin and Floki, they have lasted a long time because they have very strong follower communities. New meme coins are riskier. So I would advise you that if you are unsure what to do, basically you shouldn't touch it unless you know what you are doing. I am not an expert in this area.

AB Kuai.Dong: I would like to ask, how long do you personally think this bear market will last? Where do you see the turning point for the market? After all, compared to 2022, this does not seem like a comprehensive bear market, with stablecoins and prediction markets looking very prosperous.

CZ: I find this very difficult. First, nobody can predict the market. Nobody can do it, not me either. I also don't have a crystal ball that can see the future. The market involves many players, many factors: national policies, tax policies between countries, a specific company creating a stable coin, and another person developing a prediction market; many players are in the game. No one can foresee what everyone will do.

But overall, (at least looking at history) there’s roughly a four-year pattern, a four-year cycle. But will this time be different? This time there are many different factors, so it’s hard to say whether it will always follow this cycle.

The US is very supportive of digital currencies right now; the new government and market support are very positive, and they are passing continuous bills which should be very beneficial. With the US supporting it, other countries will also support it. As you just mentioned, the development of stable coins and RWAs is actually very rapid.

Moreover, there is a lot of noise in the community, a lot of FUD, which has a somewhat negative impact on the overall market sentiment. So, what actually will have an impact, nobody can say clearly. I think everyone should still cautiously assess their own risks when operating.

To be honest, I’ve said a lot but ended up not answering clearly; I can’t see too clearly either. But I think in general, there are positive and negative forces; however, I believe that in the long term, this industry will definitely have no issues. It’s hard to predict what will happen tomorrow, next week, or next month, so I really can’t predict that.

King Bro: CZ, what impact do you think the Clarity Act will have?

CZ: Honestly, I don't know much about the Clarity Act. I’ve read interpretations of it from AI, so you might not want to hear my advice on this topic. But overall, I think any regulation that provides clarity is good. Based on the level of discussion I have seen, this is likely to be a rather nuanced bill that has gone through fierce negotiation. Which side will win? I don’t know. Are there flaws or limitations? Probably, there are likely many compromises in the bill. But this is a draft, right? It first establishes a framework and then possesses the capacity for iterative improvement, which would be great for the cryptocurrency industry. So I think overall it is very positive; that’s my intuition. But I am not a regulatory or legal expert, especially regarding US laws and bills, so it’s best to ask other experts.

Kevin: I’m from Indonesia, and my question is: In the current environment where market sentiment is quite negative, what should BNB Chain and its ecological projects focus on to truly drive industry growth, rebuild confidence, and foster sustainable long-term growth?

CZ: I think, for developers in the industry, you should ignore the market, whether it’s rising or falling. In the long term, the market will grow; Bitcoin will perform well in the long run, and mainstream cryptocurrencies will also do well. I believe most mainstream blockchains today will perform well.

As a developer, you shouldn't worry about daily prices; you should develop applications that people will use. The applications that people use are not based on your token price, but on the specific utility your product provides, whether it’s wallets, trading, stablecoins for payments, tokenized assets, or other applications.

Anything you develop that people will use will continue to be used in the long term. As a developer, you shouldn’t overly worry about the market in the short term. However, if you issue tokens, you should try to maintain a continuous flow of updates to your products so that your token holders are well aware of your activities and your roadmap, allowing people to understand what you are doing and better assess the risks and opportunities of holding your tokens, and frequently communicate with your community; that’s my advice. So far, projects related to me have been following this advice and most are doing very well.

Link: I’d like to ask a question related to the Square. First of all, as a blogger for the Square, we are pleased to see the team focusing energy here and also notice that you have posted independent content on the Square. Bloggers often discuss privately, and we all hope our content can be more diverse, so that users not only open Binance for trading but also enjoy visiting the Square during their leisure time and find it interesting. Therefore, is this direction of content that is not limited to crypto and covers more areas aligned with the future strategic planning of the Square?

CZ: First, I actually do not manage Binance’s products, and I do not manage the Square’s products. I am actually a user of the Square. I actually have a problem: there is no place where one can see a very complete overview of not just crypto news but also news about the whole world. There used to be some news services in China that did extremely well, but it seems I haven’t seen anything like that recently. I think there should be a place where one can clearly see today’s 10, 20, 30 news stories, and that should be relatively neutral, and I think Binance Square has the potential to provide this.

Secondly, as you mentioned, it is a place for everyone to chat—it's not all about blockchain—and blockchain will involve many other sectors, including the AI industry, as well as tax negotiations between various countries, which will also have impacts. So I think the Square should develop this way; I hope it can become this kind of product. But in terms of the product itself, it’s still not mature enough. Including this live broadcast, this time is much smoother than last time, which was very laggy, so they still have much performance to improve.

In fact, this live broadcast is also a performance test, so this time is already much smoother than last time. I think the product needs to first be able to perform strongly; the performance needs to be very good and very smooth, without lagging, and then new functionalities can be added. So I think the Square product will continue to iterate.

Link: So my understanding just now is: you suggest that we bloggers can improve our content by vertically summarizing daily news around the crypto sector, while also trying to expand into topics like AI and other subjects, not limited to crypto itself. Is this your advice?

CZ: It should be a platform where everyone can see high-quality content, and high-quality content should be lifted to the top. Social media now has too much messy content; sometimes it's interesting, but the quality is not high. In addition, many news media are not factual, so with a platform like the Square, I think it’s a great opportunity.

Question: Everyone sees you as the richest person in the cryptocurrency field. I think people often equate all the funds of Binance with you and pretend that it is your personal property, but we all know that this claim is incorrect.

However, you have indeed achieved great success. I think you have done very well and made a lot of money in this industry. So why do you still persist in doing these things? Why are you still here? I want to know the reason behind this.

CZ: People often confuse user assets of Binance with Binance or myself personally. First, I think I am financially pretty comfortable, but I do not really care about money. Also, I’ve been through a lot; I think most people after going through all this would realize what is important to them and what isn’t. First, I think health is very important, family is very important, meaningful connections and experiences are very important, and making a positive contribution to society and the world is important. At least for me, this is very important; it makes me feel good. I do these things not for others, but for "selfish" reasons: doing things that have a positive impact on the world makes me feel good. I believe we are genetically selected; any animal tends to help its kind, as those who do not do so are less competitive and usually evolve out. So I think genetically, we are selected to want to help others and hope to leave this world better than when we arrived, right? We want to make positive contributions, and when we do that, we feel very strong internal rewards, which makes me happy, so I do it. And I am also very happy, especially after going through those things; I now cherish the simple pleasures in life.

I believe I am in a relatively fortunate position. I have enough resources to do impactful things, and I have enough talent, team, and funds to do things; I also have time. I am not very young, but not very old either; I have the capability to do these things. At my age, very few people can have the luxury to do what they want as they please.

Also, Binance has been doing quite well over the past two to two and a half years without me, and this situation should continue. This allows me the freedom to do other things, like Giggle Academy or communicate with national leaders to promote cryptocurrency. If you manage a company full-time as CEO, it is hard to do all these things. I think it’s very fortunate to be in this position; my health allows me to feel the need to do something meaningful. Skiing is great, but I can’t ski forever; I can ski for a few days, a season, or a month, but I can’t ski 30 days straight; that’s too much. I still need to do meaningful things. That’s my drive.

Question: The next question is an extension of the previous one. You have mentioned Ray Dalio’s “Principles” multiple times on different occasions. I want to ask, Binance has grown very quickly in a highly turbulent and challenging environment; which of the principles do you find most difficult to follow in real life? Have you ever compromised to protect the company?

CZ: I'm not sure which specific principle you are referring to, but I wrote a blog listing all the principles, which include around 30 or 40 items. I’ll pick one simple but interesting one. I think the most difficult principle to follow is actually how to save time. Many people know that saving time is important; time is more precious than money. You only have so many hours in a day, and you can’t extend that. You can delegate tasks, hire a team, but you still only have 24 hours each day. There are also various meetings and things, and it’s hard to refuse politely, which consumes a lot of time.

For example, some senior people might say: “Can you meet with my friend who is so-and-so?” and then you think: should I attend that meeting? What do they want to discuss? It is one of the harder things to save time by appearing “impolite”; I do this fairly aggressively now. But even I sometimes worry whether I will anger someone. But I think for most people, if by misfortune someone asks to borrow a thousand dollars, they would be very shy and polite; but when they say "Hey, can I take a few minutes to talk?" it usually means half an hour to an hour, and they are not worried or shy at all. Most people in the world won’t walk up to you and say, “I want to take exactly five minutes of your time; I want to discuss points one, two, and three; this is what I want.” And then you can say, “I don’t want to attend this meeting” or “this won’t happen.” If it’s just a five-minute conversation, it could end quickly. Most people are not that efficient. How to get everyone around you to become that efficient is a challenge and actually very hard.

Basically, people tend to think you are rude—and I won’t use vulgar language here. So I think this might be one of the hardest things to execute among my principles. But it is also the most effective. If you can do it well, you can really optimize your time, and the people around you will become very, very efficient, which will also make you more efficient. This actually contributes greatly to success.

Other principles, such as having a strong work ethic and protecting users and user assets at all costs, are easier. In my career, when we built Binance, we were extremely protective about anything involving user assets. So, although these things are difficult, because the principle is so firm, it becomes easier to execute. Meanwhile, time management is where many people want to remain polite but do not sufficiently protect their own time.

Mm-hmm: I am a loyal holder of BNB and Aster. Recently, Aster has surged significantly, even surpassing competitors' platform tokens. What are your thoughts on BNB ecosystem projects surpassing other platform tokens? What is the future outlook for Aster?

CZ: I won’t comment on other platforms. I feel we should focus on our own things. My advice to all the projects in my ecosystem, or any projects I am related to, is to focus on our own projects; we do not discuss others or look at others. If another product has aspects that work well, we learn from them; if their values are good, we also learn from them; if their teams are strong, we also try to recruit them, and we are always hiring. But we only look at ourselves; as long as we get our products right, that’s fine; everything else is not that important and should not be over-analyzed.

You don’t need to be particularly happy just because the token price is slightly higher than others, nor should you be particularly upset if the token price is slightly lower than others. This is a very long-term battle; everyone can be a bit calmer; there is no need to compare horizontally every day. Of course, many people in the community will do this, but sometimes a little discussion is fine. But from my perspective, that kind of talk is more of a joke and entertainment. That stuff is not that important and not that serious. In the long term, the true win is long-term win. Long term, focusing on providing good service and safety for users’ funds, ensuring users can use all functions your products provide at the lowest cost, fastest speed, and best user experience. That’s the most important thing. So everything else is noise, and there’s no need to worry.

Question: I want to ask if you could share your latest thoughts on Aster, the competition, and the upcoming Aster Chain. We have discussed the importance of privacy and blockchain speed in the past.

CZ: First, I am just an advisor to Aster. They have a team operating, and Leonard and the team are very proactive and outstanding. Relatively speaking, they started a bit later, so there are some areas they need to catch up. But I believe their team is strong, which is also why I voluntarily serve as an advisor. I also think the Perp DEX (perpetual contract decentralized exchange) space is very large and not yet defined; we are just starting. I believe this space will still exist in 10, 20, or 50 years. Who can become the ultimate winner among today’s players, who knows, but the strong players today clearly have great opportunities. I strongly support them and want to help as much as I can.

I think the upcoming new blockchain is interesting; the Perp DEX blockchain has many technical challenges, and it’s not as simple as people think. It’s also interesting to see different players in this space moving in different directions. Some are pursuing so-called transparency, where you can see everything; others want to protect people's trading privacy. I think it's great to see different players trying different routes. It’s still unclear which approach will become the widely accepted one, or if multiple platforms can succeed. So I am basically their cheerleader, trying to encourage them. I have high expectations for them.

Peter: I am Peter from Talex, which is an MVB8 project on BNB Chain. I will keep it brief. Recently, He Yi and Binance initiated a great campaign called “Binance AI Short Drama Contest,” aiming to combat FUD and seek the truth. We fully support this and hope to amplify the impact of this event in a special way, rather than just posting videos on X like a regular event—after all, that method has limited exposure. No one has ventured into the direction of content prediction markets, so I would like to hear your thoughts. For example, we can predict the popularity of content and based on that “bet,” in a simple way, paying to unlock full content—for example, paying for episodes of the Binance AI drama. There are no binary “yes or no” outcomes here, but a kind of endless distribution of capital flow: early discoverers of content who pay would create a revenue circulation between them and new users who join, as the content gains popularity through word-of-mouth.

What do you think of this “content prediction market” model? Especially in the current environment where more and more people are using Seedance 2.0 to create high-quality videos and publish them on X, will this model find a product-market fit more easily?

CZ: This is the first time I’ve heard about content prediction markets; I haven’t deeply thought about it. I don’t know how you would monetize it or determine the final value of an event or prediction. For event predictions, the outcome is usually 0 or 1, or some value between 0 and 100, with the winner taking the losers' money. In the content model, I don't know if there is a ceiling. There have been discussions; I think Yzi Labs incubated a project that tokenizes opinions. But then again, everyone can have an opinion; how do you determine the final value? So that project eventually pivoted. This sounds somewhat similar. I need to further study its tokenomics and financial model. However, I do believe that a content economy utilizing cryptocurrencies will emerge; it’s a huge area. You can see in this live broadcast that people have already donated $12,000, and it's still going on. I believe this crypto content economy will be significant, and we haven’t fully developed it yet. The current media, people in the crypto space often don’t think highly of them because they tend to be biased and no longer neutral, while social media is difficult to monetize. Although you can monetize on X, it is still limited. We are still in the early stage of the content economy world, and cryptocurrencies can play a vital role.

Ekowreel: Do you foresee platforms like Binance Square evolving into monetization models similar to YouTube, where creators can earn from video content, but implemented in a native Web3 way (involving project tokens or on-chain incentives)? Do you think Binance Square will become the Web3 version of YouTube?

CZ: I do not manage Binance Square, but I think it is already heading in that direction. Binance Square has already allowed content creators to monetize. I think I just saw recently we have an official Binance Square account; I don’t know who is behind it or which intern may be running it, but maybe you can talk more about that. I think there’s already a 50% commission sharing thing and such.

Official Staff Addendum: Currently, Binance Square has two monetization models: the first is the trader path, called “Write to Earn,” where you can earn up to 50% commission; the second is the creator path, where you can participate in projects’ activities and create content for them, earning project tokens based on quality. These are the main monetization methods at present.

Question: How can the Chinese community showcase a responsible, innovative, and warm community image to the world? So as to better step into the global scene and compete alongside international representatives? As a senior who has long built the BNB ecosystem, can you offer us some advice?

CZ: This question is quite grand. First, I cannot represent the Chinese community, nor am I able to represent such a large group. I speak Chinese, but my Chinese is not very standard. I think this: from my personal perspective, I only speak both Chinese and English, so I hope both communities will strengthen and improve. In the languages I can speak, I will continue to support and promote both. I believe I have promoted quite a bit of Chinese content in the English X community as well. Of course, maybe more could be promoted. We have actually pushed it to the point that many foreigners say I speak too much Chinese, but I feel that this is not my problem if others complain; I am promoting in both languages.

Additionally, Chinese is a large community. Sometimes Chinese people compete too intensely internally. This includes many instances of misinformation lately, which I believe come from Chinese competitors or peers. So I think our Chinese community is not united enough. If we really want to, we should unite more and increase the international influence of Chinese, which would be better. But often people aren't united enough; I have no way to change that. So I think the vision is very good, and I fully support it. But currently, it seems quite difficult to realize. I think we should focus on how to improve the Chinese community, Chinese platforms, Chinese projects, Chinese tokens, etc., and do better instead of dismantling or attacking each other. Dismantling is okay, but pointless attacks against each other are completely unnecessary.

Jason Daily Web3: Where do you think true capital and developer focus will be in the next two to three years? What early signals should ecosystems focus on?

CZ: This is also a challenging question and predictive in nature, so my predictions may very well be wrong. But I believe RWAs (Real World Assets) are receiving much attention now. Based on my discussions, every country I mention wants to tokenize their domestic assets. Tokenizing assets can provide immediate funding for countries, which allows them to ship physical goods when people want to redeem their tokens in the future. Additionally, tokens will create an economic ecosystem for such assets, which can build supporting infrastructure around those assets. For instance, gold—many countries actually have untapped gold reserves. Some countries are negotiating rare earth metals, even salt and water. Many countries have high-quality mountain spring water, right? For example, Kyrgyzstan has abundant water resources.

I don’t know if everyone realizes that today, drinking water often costs more than oil per liter. If water resources can be tokenized, it can create considerable income. So I believe real-world asset tokenization will become an important trend. As for the specific timing of its outbreak, whether this year or next year, I am not certain. Predicting markets is an art; some directions are relatively clear, but I may also make incorrect judgments. Typically, there are always completely unexpected dark horses emerging from the margins and becoming unstoppable.

Bido: How do you view the future of DEXs in the next three to five years? Do they also face compliance issues like current CEXs? If so, when do you think that might happen?

CZ: Today's questions are quite difficult. First of all, I am not a compliance expert, and compliance is not that simple—each country is different, and it is hard to predict. Look at the US; a year and a half or two years ago, it was hard to foresee how positive the US would be now. DEXs also have different degrees of decentralization; some are very decentralized, while some have fewer nodes. There are distinctions between spot DEXs, perpetual contract DEXs, and so on. It’s hard to say how far they will evolve.

But I believe the trend across the industry is more communication. I think many countries may not even have figured out how to regulate CEXs yet, and are still in discussions on that. I believe that is the first step; only after that will it come to DEXs. So it’s a difficult question to answer, and I don’t have an accurate answer.

Crypto Warehouse: Do you think, in the current US government, stablecoins have overshadowed Bitcoin? Where do you think the current US interest lies?

CZ: I don’t know the US very well. And the US is a large country, with many participants and different people involved. But currently, based on my limited understanding, the Genius Act was passed last year, about six or seven months ago. This provided much clarity on how to conduct stablecoin operations in the US, which is a very positive signal. At the same time, this affects other countries globally.

I think everyone is discussing this; we often see news about the Clarity Act and hope it can be smoothly passed too. I believe a government that supports cryptocurrency will make the industry develop quickly in that country. This is the future industry of currency, which will boost the country's monetary system upgrade and position that country at the financial forefront. The US is already leading in traditional finance (like Wall Street), and if it can adopt this new technology sooner than other countries, it will gain a greater competitive advantage.

This is good for the crypto industry and beneficial to other countries worldwide. But for other countries, I think it is important to keep up and adopt friendly regulatory policies as early as possible, attract talent, attract industry participants; in simple terms, to attract the whole industry. So overall, I see this as a positive trend. I don’t know much about it, I can’t analyze in detail, and I can’t answer this question particularly accurately. But I think what the US is doing for cryptocurrency right now is wonderful for the world.

Question: AI is developing rapidly, and large-scale applications are increasing. The roadmap for BNB Chain has an "AI First" approach for 2025, including promoting AI integration and providing AI tools. What real landing directions do you see for AI and the cryptocurrency industry? What kinds of AI applications can truly survive and be popular?

CZ: I think first, AI is developing rapidly, and second, blockchain is also developing quite fast. How these two industries combine is still in the experimental stage, and there isn’t a super application where both are entirely integrated yet. But as AI capabilities improve, whether it’s AI usage, AI payments, or AI data training, it will all converge with digital currency. I believe payments should be the quickest area for landing, but we're still in the early stages. If we look at the long term, say two, three, five, or even ten years from now, there will be thousands of agents (AI), and there will be payment relationships among them using mostly digital currencies. Many are cross-border, high-frequency, small payments, which will likely settle through blockchain and cryptocurrencies.

Evgeniy: I remember you tweeted at the market bottom saying "they want to buy cheaper." Two questions: Is the current situation similar to the previous bottom? Who do you mean by "they"?

CZ: I don’t know how to answer these two questions. I don’t think I tweeted “this is the market bottom”; I usually don’t say such things, and I don’t know when the bottom is. I also don’t know who “they” refers to. I believe nobody knows exactly where the bottom or top is; anyone claiming to know is just guessing. Markets operate in a peculiar way, with so many participants, and anyone’s actions may trigger a chain reaction.

_Ram: Thank you, CZ. Since you have not been the official CEO since 2023, but your voice still carries weight. How do you balance the freedom of speech with responsibility towards the ecosystem?

CZ: I don’t think this needs balancing. I don’t manage Binance. I am someone who believes in free speech, and I will continue to do so. I live most of my time in countries where free speech is available, and I am quite active on social media. I don’t think this will affect other matters. Whether people think my words carry weight or not does not change the way I speak; I just do my own thing. Sometimes, people suggest to me: “There’s a lot of FUD (negative messaging) about you now; maybe you should stay quiet.” I said no, I don’t want to do that; that way, the FUD would have an effect. I don’t let others change my behavior. I express my opinion and engage with the community in ways I think are best, suitable, and helpful. That’s what I do, and I don’t want to change anything.

Question: I am concerned about the issues between CEX and DEX. Do you think CEX and DEX will compete against each other more in the future, or will they merge? What kind of users will choose CEX or DEX?

CZ: I think they will coexist for a long time. Currently, they serve two totally different types of users. DEX requires you to operate your wallet directly, and protecting wallet security is a special skill today. Most people cannot protect their wallets. If you want to trade on a DEX, you need a secure computer; you can’t randomly download files or open pictures from friends; otherwise, if you get infected, your wallet could be in danger. This is completely different from users of CEXs (who use email, passwords, and customer support). Furthermore, the current adoption rate of cryptocurrency is still very low; globally, perhaps only 8-10% of people have some form of cryptocurrency, and their asset ratios are usually less than 10%. For most ordinary people and non-technical users, when they first encounter cryptocurrency, they typically turn to centralized exchanges (CEX). As they become more experienced, they may turn to DEXs. But among today’s early adopters in the crypto community, there are many tech enthusiasts who are more likely to shift to DEXs. For the general public, moving to a DEX is still challenging, but tools will improve over time. In the future, I hope non-technical people can easily hold cryptocurrencies as well. Currently, DEX services are still relatively fragmented; exchanges, loans, and wealth management may be in different places. I hope that in the future self-custody wallets like TrustWallet can handle all of this. I don’t think there’s real competition at the moment; the market is large enough to accommodate thousands of CEXs and DEXs. This is a long answer.

Entamoty: I want to ask you about the role of emerging markets (especially Africa) in driving the next stage of cryptocurrency adoption. How does Binance plan to support African innovators through initiatives like YZi Labs incubation?

CZ: I believe that among all crypto platforms, Binance's investment and presence in Africa may be the largest. The entire ecosystem, including myself, has invested tremendous effort in Africa. I have visited over 12 countries in Africa. From the early days until now, my thought has always been: we just want to get as many people into the crypto world as possible. Quite frankly, the overall GDP per capita in Africa is lower than that of other continents, so the commercial returns and income level for doing business in Africa are indeed lower compared to elsewhere. I believe this is also the main reason many platforms do not focus on Africa.

But I firmly believe that if we can get all of Africa involved, their economic strength will grow, and in a few years, commercial returns will naturally follow. Moreover, Africa has a very unique opportunity: the banking coverage rate is extremely low; I remember it’s less than 11%. At the same time, the smartphone penetration rate is rapidly rising. This basically means that people here don’t need to go through the traditional banking phase; they can leap directly into the crypto world—that's what we are seeing. So I think this is a golden opportunity for any crypto business or crypto platform.

Additionally, from the early stages, the Binance incubator has invested quite a bit in Africa. We had an investment director who used to live in Africa for a long time; he has since left to start his own business, but he had been on the team for several years, and at one point was focusing specifically on the African market. So we have indeed done a lot and want to do even more. From the perspective of the BSC chain and Binance incubator, we really want to increase investment in Africa, and we hope more people can come together to do this.

Question: CZ, how do you deal with FUD and noise on a daily basis?

CZ: The best way is just not to deal with it. Sometimes you still need to do some simple clarifications, as many people are not used to this level of noise and may sometimes believe it. But other than that, my advice is to ignore it. For those who spread FUD, I reduce the noise through blocking or muting. Muting is better because they don’t know, and out of sight, out of mind. I also try to be careful not to accidentally mute those who provide genuine feedback. Many innocent people can be led by the narrative. We welcome feedback; that’s why I spend so much time doing AMAs on social media. But for those who intentionally spread false information, you simply ignore them. The only people they attract are those who aren’t very smart, to be blunt, and you wouldn’t want those people on your platform anyway. Smart people will stick around.

Data shows that the more they talk about you, the higher your exposure will be. Many users say they joined Binance because of negative news and found that the platform is great. So I advise everyone to mute this noise; too much noise is bad for your health. I remain calm; the noise doesn’t disturb me. And there’s a saying: you are the average of the five friends around you. By removing negative influences, your quality of life will improve. I won't change myself because of external attacks; I’ll just be myself. So far, this strategy has worked well for us: Binance's deposits, growth, and my Twitter followers are all increasing. We are not worried.

Question: Do you think a crypto winter is approaching?

CZ: I don’t know. The market has cycles and will fluctuate. Moreover, everyone’s definition of “winter” is different. If you look at Bitcoin's price, it’s dropped quite a bit from its all-time high; but is it better than a year and a half ago?

How do you define it? I don’t know; even traditional markets like gold and silver can fluctuate dramatically. But if you look long-term, the crypto industry will perform well. Not every project will succeed; many will fail, but the good ones will stand out. For investors or traders, it’s essential to learn to manage risks and understand this is a high-volatility industry.

Nian Nian Community: CZ, what goals does Giggle Academy want to achieve this year? Will you participate in any Giggle Academy courses held globally by the Nian Nian community?

CZ: Because Nian Nian has a token, I generally tend to avoid activities associated with communities that have existing tokens. But I want to express my thanks to the Nian Nian community for supporting Giggle. Additionally, I want to sync up with everyone: Giggle Academy has reported over 150,000 registered users today.

But there have been too many meetings, and I haven't had the chance. This is quite an important milestone, considering they just broke 100,000 a few months ago; the growth speed is indeed accelerating.

Meanwhile, they are working hard on product refinement. Over the past few months, they have not added a lot of new content; instead, they've focused a lot of energy on optimizing existing content to make the course experience smoother, stickier, and also support more languages. So I think—actually, I don’t have any grand goals—the team consists of about fifty to sixty people, moving steadily forward, and everyone is very passionate and working hard.

Currently, they should be in the product optimization phase: they want the existing content to be extremely engaging and interesting for children, providing excellent learning outcomes. Once this step is finished, they will expand content at a faster pace. Now, they are tracking various data metrics every day, such as next-day, two-day, seven-day retention, conversion rates, completion rates, dropout rates, etc., and have done a lot of analysis in this area. The various data points are all on the rise, reflecting their focus at this stage.

So the speed of content production has slowed down a bit for now, but once this phase is over, the pace of content creation will pick up again, and they will quickly apply various new AI technologies. Recently, they have been experimenting with new video generation tools like Seedance 2.0, and the quality of the videos they produce is fantastic; AI has made their work considerably easier.

My judgment is that Giggle Academy should be able to reach 1 million children this year, and in the next 5 to 10 years, that number could reach tens of millions or even hundreds of millions. I think this is a very meaningful goal, and I sincerely feel happy about the progress of this team, and I want to publicly commend them here.

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