Nenter Chow is an experienced executive in finance and blockchain, currently serving as the Global CEO of BitMart, a leading global digital asset trading platform. Nenter has over 17 years of career experience in investment banking, having worked at major institutions such as JPMorgan Chase, MUFG, and the Industrial and Commercial Bank of China. He has extensive experience in cross-border mergers and acquisitions and credit transactions, with operations spanning New York and Shanghai. His deep understanding of traditional finance and emerging technologies enables him to effectively connect Eastern and Western markets.

Market Competition

Coinbase has just acquired Deribit for $2.9 billion, marking the largest acquisition in cryptocurrency history. As the CEO of BitMart, how do you interpret such a large-scale acquisition by one of your biggest competitors?

I believe that Coinbase's acquisition of Deribit for $2.9 billion is a transformative milestone for the cryptocurrency industry, particularly in the derivatives trading space. This record-breaking deal highlights the growing demand for complex trading tools in the cryptocurrency market and signifies that the market is maturing and ready for institutional adoption. By integrating Deribit's options platform with Coinbase's infrastructure, this move will provide a streamlined and efficient trading ecosystem that benefits users globally.

This acquisition marks our transition towards a comprehensive platform that integrates spot, futures, perpetual contracts, and options trading, allowing traders to operate more flexibly and efficiently. Additionally, combining Deribit's vast options market with Coinbase's regulatory framework is seen as a stabilizing force that helps reduce risk and enhance market confidence.

At BitMart, we welcome this development and view it as a driving force for innovation across the industry. It reinforces our commitment to providing secure, diverse, and user-centric trading solutions while advancing the global digital asset ecosystem. This acquisition emphasizes the value of transparency and regulatory coordination, inspiring us to innovate and collaborate to create a more resilient financial future. We will continue to empower users and build an inclusive cryptocurrency environment.

Stablecoins

In the past 10 days, we have seen several important announcements regarding stablecoins from numerous companies, including Meta and Stripe. Stablecoins are clearly becoming a strategic business initiative. What do you think are the biggest benefits of these initiatives for the industry?

The recent stablecoin announcements from companies like Meta and Stripe mark a decisive moment for the cryptocurrency industry. These advancements highlight the critical role of stablecoins in facilitating fast, cost-effective, and convenient global transactions. Their primary advantage lies in their ability to bridge traditional finance and blockchain, enhancing financial inclusion and simplifying cross-border payments.

By allowing businesses and developers to easily hold, send, and use stablecoins, these initiatives provide dollar-based accounts in over 100 countries, particularly supporting regions with currency instability or limited banking services, thereby driving economic empowerment and global trade.

BitMart is actively advancing this vision and announced a strategic partnership with Paxos and the Global Dollar Network (GDN) on May 12, 2025, to integrate the dollar-backed stablecoin USDG into our platform. This collaboration expands the reach of USDG to our 10 million users, offering direct purchase and trading pairs while reinforcing our commitment to trusted enterprise-grade digital assets. This partnership aligns with our mission to build trust, ensure compliance, and foster innovation.

We are dedicated to providing secure, user-centric stablecoin solutions, building a transparent and inclusive digital asset ecosystem that positions stablecoins as the cornerstone of modern finance, benefiting users and businesses worldwide.

Gaming

Reports indicate that the cost of GTA 6 has exceeded $2 billion, surpassing even the world's tallest building, the Burj Khalifa. What is your current view on the gaming industry? What is your favorite game genre at the moment?

The gaming industry is thriving, and the reported $2 billion budget for GTA 6 exceeds the $1.5 billion for major real estate projects, showcasing its ambition to redefine entertainment. This investment drives the development of immersive open-world experiences that rival movies and architecture, setting a new industry benchmark. Web3 gaming is a vibrant force that leverages blockchain to attract billions of players into decentralized ecosystems through engaging gameplay and economic rewards.

The play-to-earn (P2E) model attracts players by providing real-world value, making gaming a gateway for blockchain applications, but sustainability requires a balance between entertainment and economic stability to avoid speculative risks.

Mobile platforms are changing the gaming landscape, and Web3 games are attracting a large number of players due to their ease of use, especially in emerging markets. Despite market volatility and reduced venture capital, Web3 gaming has drawn significant investment driven by innovations such as artificial intelligence and cross-game asset sharing. To be honest, I currently do not have a favorite P2E game, but my favorite video game remains Mario Kart, which I have always enjoyed for its timeless fun.

Ultimately, I hope to see mainstream blockbusters like GTA 6 and Web3 games merge over time, and I believe this industry will innovate by combining high-budget blockbusters with decentralized platforms to attract global audiences.

Community Trust and Regulation

The recent black swan event involving Mantra Network has caused significant losses for the community, once again placing the cryptocurrency space under a negative spotlight. What do you think we need to do at the industry level to thoroughly prevent similar events from happening in the future?

I believe that to prevent future black swan events and rebuild trust in cryptocurrency, we need a balanced and resilient ecosystem that includes both decentralized and centralized platforms. By adopting audited open-source smart contracts, we can minimize single points of failure, while self-custody solutions like non-custodial wallets can reduce user risk.

Centralized exchanges remain safe and essential, provided they implement strict standards such as mandatory proof of reserves, enhanced cybersecurity, and regular audits to ensure transparency and security. Fostering best practices across the industry, such as these audits, strong consumer education, and stress-tested protocols, can empower users and restore confidence. A collaborative regulatory framework developed with stakeholders can protect innovation while preventing destructive crackdowns.

Reducing leverage and diversifying risk can build a robust system capable of withstanding market pressures. Community-driven governance and DAO-led insurance funds can further protect users and mitigate losses from hacks or system failures. By aligning with stakeholders and prioritizing user protection, the crypto industry can encompass secure centralized exchanges and decentralized infrastructure, building a resilient ecosystem that thrives amid challenges, reduces systemic risk, and maintains lasting public trust.

Bitcoin

Since the approval of the Bitcoin ETF and Trump's re-election, the price of Bitcoin has skyrocketed, becoming a hot topic in sovereign-level financial planning. Ten years ago, this sounded like science fiction. How do you view the development of Bitcoin over the next decade?

Driven by the ETF approval and discussions at the sovereign level, Bitcoin's surge has transformed it from a fringe concept into a global asset. I agree with Ray Dalio's view that Bitcoin acts as "hard money," similar to gold, with its fixed supply of 21 million coins serving as a hedge against potential debt crises and fiat currency devaluation. I believe that over the next decade, Bitcoin will continue to solidify its position as a store of value rather than becoming a cross-border payment tool like stablecoins.

Institutional adoption through ETFs will enhance liquidity and stability, attracting a diverse range of investors. With clear regulatory support, sovereign interests could establish Bitcoin as a strategic reserve, although geopolitical coordination remains key.

DeFi innovations may also elevate Bitcoin's status, enabling it to become a yield-generating productive asset through lending protocols and yield platforms.

Market volatility and regulatory challenges may persist, necessitating strong risk management and global cooperation. Advances in Web3 can integrate Bitcoin into decentralized ecosystems, promoting financial inclusion in emerging markets. Bitcoin's resilience and increasing legitimacy suggest that it will complement traditional assets in reshaping finance responsibly. As long as stakeholders prioritize stability and accessibility, I believe Bitcoin has the potential to diversify portfolios and generate returns.

Open Mic: Your Views on the Market

We are happy to provide you with an open speaking opportunity. What are your personal views on the current market conditions? Do you have any insights about the future of the industry that you would like to share?

The cryptocurrency market is at a vibrant juncture. While I foresee macro liquidity driving the next bull market in cryptocurrencies and a bullish outlook in the medium to long term, I do see challenges for the venture-backed altcoin market in the short term. Oversupply of tokens, significant unlocks, and venture capital chasing decentralized price indices (DPI) are creating headwinds, with many investors currently flocking to private investment (PIPE), similar to MicroStrategy's Bitcoin strategy targeting various altcoins like $TON, $SUI, and $ENA, indicating limited liquidity for native crypto projects.

However, as the industry shifts towards fundamentals, some bright spots are emerging. Revenue-generating projects are gaining attention, aligning with the increasingly mature market's focus on sustainable value. I am particularly optimistic about the tokenization of real-world assets (RWA), which will democratize on-chain access to assets like real estate and commodities. Scarce assets like uranium, which are currently not traded on exchanges, will be traded through the first 24/7 institutional spot uranium trading platform supported by Solana—representing an innovative opportunity that extends the utility of cryptocurrencies beyond traditional finance.

The focus on fundamentals and new asset classes will drive long-term growth. BitMart is committed to supporting revenue-driven projects and providing tokenized assets to promote accessibility and compliance. While short-term excitement may exacerbate market volatility, the industry's shift towards tangible value and on-chain innovation positions it for sustained success. I believe that with improved liquidity and clearer regulations, cryptocurrencies will redefine global markets, with risk-weighted assets (RWA) and unique on-chain assets leading the way.

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