Binance 300 million (current users), 3 billion (next stage goal). A 10 fold jump, translated as' Yijie @ heyibintance 'means we don't plan to just do encryption anymore, we want to do future financial infrastructure My first reaction was that 3 billion users may sound like bragging, but the number of 300 million is already there. There are approximately 4 billion global bank card users, and Binance alone has consumed nearly 10% of them. Putting 3 billion under this denominator is not crazy. They no longer compare the transaction volume with Coinbase and OKX, and directly benchmark the user plates of Visa, SWIFT and Alipay. Here is a typical boundary fusion slot. When a platform simultaneously holds: compliance license, stablecoin settlement, 300 million real users, and on chain native infrastructure. It stands at the boundary between traditional finance and encryption. Futu is moving towards encryption from securities firms, while Binance is moving towards payment/account systems from encryption. Both sides are hedging, and the position of the financial operating system in the middle is a big opportunity. The market is still using the framework of (fees x trading volume) to value exchanges. But if the 3 billion users can really reach half, then the pricing anchor will become monthly activity x ARPU x network effect, which is the valuation method of Web2 giants, not exchanges, and both growth and revenue will increase by an order of magnitude. Of course, 3 billion is a goal, not a fact. Any one of the regulatory, geopolitical, or compliance bottlenecks can make the story collapse. But daring to say the number 3 billion itself is a signal, telling the team and the market that this company has a bigger market in the future, not just in cryptocurrency trading.