The founder of Binance, Zhao Changpeng, painted a shocking picture of the industry in a year-end Q&A—current cryptocurrency market penetration may be less than 1%, while the future of artificial intelligence and robotics will have to choose cryptocurrency as a medium of value exchange.
Zhao Changpeng currently allocates his time mainly across four areas: leading the educational project Giggle Academy, mentoring entrepreneurs through YZi Labs, developing the BNB ecosystem, and providing blockchain and cryptocurrency adoption advice to multiple governments.
This industry leader believes that the market size for cryptocurrency still has several orders of magnitude of growth potential, with the current industry penetration rate possibly being less than 1% when calculated based on total wealth.
1. Work Focus
After nearly two years of ups and downs, Zhao Changpeng's daily work focus has become clearer. He currently allocates his time mainly across four key areas.
● Leading Giggle Academy is one of them; this educational project has already impacted over 90,000 children, with a team size of 60 people. At the same time, he mentors founders through YZi Labs, contributing to the BNB ecosystem.
● Zhao Changpeng is also actively involved in promoting national-level cryptocurrency adoption, providing blockchain and cryptocurrency advice to governments in countries like Pakistan and the UAE. He maintains an active lifestyle and emphasizes the importance of helping new developers, feeling proud of the growth of YZi Labs and the Binance ecosystem.
2. Ecosystem Development
The BNB Chain has achieved significant growth over the past year. According to data shared by Zhao Changpeng, the annual transaction volume of the chain has increased by about 600%, with daily active users surpassing 2 million.
● Zhao Changpeng holds a simple and clear attitude towards the development of the BNB Chain: “We just need to continue building value for the real builders.” He suggests that project teams should focus most of their time on building, occasionally looking up to assess the competitive landscape and industry trends to clarify direction.
● He made a key point: the scale of the BNB ecosystem should surpass any single business within the ecosystem in the future, including centralized trading platforms and various protocols.
● Zhao Changpeng used a vivid metaphor to describe the mindset needed by builders—“a combination of a marathon and a boxing match,” requiring both long-distance running and fighting along the way, but most importantly, continuously moving forward.
3. Track Analysis
● Regarding the key track of stablecoins, Zhao Changpeng gave high praise. He believes the market space is enormous, and what we currently see is just the 1.0 version of stablecoins. “Further stablecoins have not yet been launched on a large scale; we are just getting started.” He pointed out that what we see now are 1.5 generation stablecoins, such as FDUSD and USD1.
● Zhao Changpeng previously elaborated on the strategic value of stablecoins at the Hong Kong Crypto Finance Forum in August. He noted that stablecoins and exchanges have become one of the core profit segments in the crypto finance field, with a highly simplified business model.
● From a national strategic perspective, he believes stablecoins are essentially tools to help underlying currencies achieve globalization. “Almost all USDT users are outside the United States, which actually expands the global influence of the dollar.”
4. Prediction Market
Regarding the emerging "prediction market" track in this bull market, Zhao Changpeng believes it is currently impossible to determine which project will ultimately prevail.
● He pointed out the next possible hot event: “The next highly anticipated event should be next year's U.S. presidential election, right? I think, by that time, a team that can remain on standby and relentless is likely to win, at least in the short term.”
● Zhao Changpeng previously retweeted related tweets about the prediction market Probable deployed on the BNB Chain, stating that “multiple prediction markets are operating on the BNB Chain.” Probable is co-incubated by PancakeSwap and YZi Labs, supported by the UMA Optimistic oracle.
He reminded the team to fully invest in this very interesting phase, while emphasizing that true victory is achieved in long-term competition.
5. AI and Cryptocurrency Integration
● AI and robotics are the current focus of the global technology field, and Zhao Changpeng believes that both will be closely linked to cryptocurrency. “I expect that in the future, artificial intelligence and robotics will be widely using cryptocurrency. It’s not happening yet, but eventually, they will—there’s no other choice.” He stated firmly.
● However, Zhao Changpeng holds a reserved attitude towards the currently popular AI Agent trading products. He believes that if AI Agents were truly feasible, project teams would not easily sell them to users but would use them themselves.
● In this zero-sum game of the capital market, if everyone uses the same AI strategy, it will lead to strategies ultimately being ineffective or even failing. “If everyone in the market is using it, then it’s not that effective,” he explained.
Despite this, Zhao Changpeng believes that AI will indeed be used extensively by traders in their own different ways.
6. Investment Philosophy and Entrepreneurial Advice
● When discussing investments in startup projects, Zhao Changpeng expressed that he personally prefers to support mission-driven builders in the long term. “Adjusting products based on market demand is good, but if you completely change direction every three months, it shows you don’t truly love what you’re doing.” He pointed out the persistence qualities that entrepreneurs need to possess.
● In the context of constantly changing market demands, the execution ability of the team has become the most important factor for Zhao Changpeng when investing in projects. For entrepreneurs, there is no fixed formula for success; there are many paths to success. “There are still many opportunities in the future,” he encouraged.
● Zhao Changpeng also mentioned in previous speeches that for business institutions and entrepreneurs, it is essential to accurately grasp the rhythm during market windows: entering too early may face survival pressure, while entering too late may miss the opportunity.
7. Market Prospects and Industry Positioning
Despite the recent industry possibly entering a bear market again, Zhao Changpeng remains optimistic about the development of the cryptocurrency field, believing that everything is still in its early stages and there is significant room for growth.
● “I believe the current penetration rate of cryptocurrency is still in the single-digit percentage range—depending on whether we calculate by the number of people or by total wealth. If calculated based on existing total wealth, the penetration rate may be less than 1%,” he analyzed.
Based on this judgment, Zhao Changpeng believes that there are several orders of magnitude of growth potential for cryptocurrency.
● He previously delved into the RWA (Real World Asset Tokenization) track in his speech in Hong Kong, acknowledging its broad market prospects but also pointing out that the difficulty of implementation is far higher than market expectations, facing challenges of liquidity issues, regulatory complexity, and product mechanism defects.
8. Industry Vision
Zhao Changpeng has emphasized on multiple occasions that the essence of blockchain technology is a type of ledger technology, with its first application scenario being finance.
● He envisions that future exchanges should achieve unified trading of various global assets, whether it’s a building, future IP revenue rights of a celebrity, or even personal net worth, all can be circulated in the same market.
● Regarding the regulatory environment, Zhao Changpeng believes that U.S. policies have shown unprecedented support for virtual currencies, which will inevitably drive other countries wishing to develop their economies to take corresponding actions.
● He specifically pointed out that Hong Kong, as a long-standing financial center in Asia, combined with the supportive attitude of the Hong Kong government, is currently in a rare golden window period.
Zhao Changpeng's vision has already surpassed the current market fluctuations, looking towards a broader picture of technological integration. When asked about the relationship between AI and cryptocurrency, he unhesitatingly asserted: “There’s no other choice.”
He expects artificial intelligence and robotics will be widely using cryptocurrency, a judgment based on a profound understanding of the inevitability of decentralized value transfer networks.
Even as the industry may enter an adjustment period again, Zhao Changpeng still insists that the penetration rate of cryptocurrency, when calculated based on total wealth, may be less than 1%, which means several orders of magnitude of growth potential are still waiting for pioneers. This industry leader's gaze is always fixed on horizons that have yet to be noticed by most.
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