Yi He, head of Binance Labs, believes there is hope in the cryptocurrency space despite the bear market. Here are the latest market comments from the official of Binance, the world’s largest exchange in terms of daily trading volume.
Binance Labs President shared his thoughts on the market
Yi He, who helped found the Binance cryptocurrency exchange with Changpeng Zhao, shared his new comments. As it is known, He has recently taken over the head of Binance Labs, the venture capital arm of the company. With over $7.5 billion under his control, He has been tasked with growing Binance through acquisitions and other deals. In an interview, he said that there is a lot of promise in a bear market. When asked about Binance Labs’ investment strategies in bull and bear markets, he used the following statements:
It doesn’t matter if we are in a bull or bear market, we usually get what we really want. In a bear market, I think we need to invest more aggressively. But not just for investing. The investment industry tends to follow the herd, and many funds are concerned that they may miss out on a four-year or five-year investment cycle. Some of our LPs also suggested investing in more projects faster. I told them not to be nervous.
Yi He mentioned web3 funds
He also talked about the investment strategies of BinanceLabs and how it differs from some VC firms in the web3 ecosystem. He stated that everyone knows that “the bear market is a good investment opportunity.” Because in this case, many people whose only goal is to “make some quick money” are forced to leave the industry. He says now is “a good time for those who want to run a really good business and support those who believe in this industry.” He also used the following statements on web3:
One important difference in fundraising between Web 3.0 and Web 2.0: Web3 projects must raise money through VCs. They can also issue tokens and sell them to users. In such a scenario, a VC’s role may be more valuable in terms of offering guidance than giving money. This technique may include guidance on security aspects or the model of tokens. This is important to users, and the community is essential when it comes to running a Web3 company.
What about Binance’s investments?
The Binance Labs president also discussed the company’s investment in media platforms, including Forbes and Twitter. cryptocoin.com As we have also reported, the stock market said that it decided to invest in Twitter under the influence of Elon Musk. He used the following expressions:
We’re still following the Forbes incident. This is an investment related to an initial public offering through a listing. But there seem to be some difficulties, so they are making adjustments. Perhaps some of its shareholders may want to dilute holdings. In terms of media investment, there was the factor that Twitter has a large user base when Elon Musk said he wanted to buy Twitter, and we thought it would be good for Web3 education.
Binance continues to be the world’s leading cryptocurrency exchange with a daily trading volume of over $15 billion.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.