Former founder of Bitget wallet revealed that BG wallet is raising funds at a valuation of $2 billion The burning money war of Binance wallet finally has one company that can't burn it anymore Think about when your company will raise funds It must be that your existing cash flow is insufficient to maintain your current market share I recently wrote an article about the money burning takeout war among Meituan, Alibaba, and JD. com Is it similar to this Alibaba, Meituan, and JD.com jointly burned 100 billion yuan in subsidies to support the food delivery war Alibaba, Meituan, and JD.com burned 50 billion, 30 billion, and 20 billion respectively As a result, JD.com was the first to withdraw from the food delivery war and instead focused on fresh food delivery BG Wallet is actually just like JD.com, seeking financing and should focus on other tracks in the future, such as listing on the US stock market, DEX, etc The core reason why OKX and Binance Wallet can continue to compete at present is that OKX Wallet already has a large market share, but it has lost some of it to Binance Wallet OKX wallet is like Meituan, guarding its own moat and differentiating its Binance wallet Binance Wallet is more like Alibaba burning 50 billion yuan, as long as it can occupy market share and burn a lot of money Do you know which of Alibaba, JD.com, and Meituan has benefited the most from the food delivery battle? That's right, it's Pinduoduo (Bybit) who didn't participate in the food delivery war Pinduoduo has gone to do overseas business on its own, but it can't handle the products that you are competing with. It's still foolish for foreigners to have more money