时间：2024-03-04|浏览：223
Promoting product innovation to create value for users is the essence of Binance’s work.
Author of the article: Binance CEO
Article source: Binance
In politics, a newly elected leader’s first 100 days in office are seen as a measure of their ability to govern effectively, implement reforms and deliver on campaign promises. The analogy between leading a country and the world’s largest digital asset ecosystem is certainly imperfect. Still, one could argue that cryptocurrencies are evolving faster than most traditional systems, meaning the first 100 days of a leader here may be more compelling than the same period in politics. Still, the first weeks and months after a leadership change are critical for a system or organization, and my first hundred days did bring enough development and progress to warrant their evaluation.
Since taking on the role of CEO, I have made it a priority to ensure and maintain Binance’s user-centric principles throughout the business, with a focus on ensuring stability. In this sense, radical reforms are not needed because, in many respects, our organization is already on the right path. In fact, our user-centric DNA continues to be the driving force behind trust in Binance and the corresponding growth in our user base, which as of today exceeds 178 million registered users.
Additionally, we have continued to demonstrate very strong financial performance since our settlement with U.S. regulators. According to Bloomberg, based on data from DefiLlama, we recorded more than $3 billion in net inflows from the end of November to the end of February, exceeding the net inflows of our largest competitors during the same period. In January alone, our platform attracted its largest inflows since at least November 2022. Of course, we have favorable external conditions to thank, with the approval of spot BTC exchange-traded products in the United States contributing to the strong momentum in the crypto market. But even against this backdrop, Binance’s stellar performance over the past 3 months stands out.
These early successes are only possible because of the hard work of our dynamic team, our deep group of global leaders who have laid the foundation for the organization's long-term growth, and the continued trust and support of our incredible global community.
Products that create value
I think promoting product innovation to create value for users is the essence of Binance’s work. I’m pleased to say that in my first 100 days, we’ve rolled out a number of exciting features for both retail and institutional users.
Continuing our focus on simplifying access to the exciting world of Web 3.0, we’re introducing a slew of new features for Binance Web3 Wallet. This includes support for new chains, enhanced exchange options, and access to more DEXs and bridges. In response to popular demand, we also launched the Binance Inscription Marketplace, integrated with our Web3 wallet to provide the crypto community with a user-friendly way to trade and mint a range of Inscription tokens.
To further make crypto trading more social, we have made improvements to Binance’s copy trading functionality, specifically introducing the simulated copy trading feature. This educational tool allows users to practice and learn using virtual test funds in a risk-free environment.
On the institutional side, Binance successfully launched and executed the crypto industry’s first bank tripartite agreement, whereby institutional investors’ trading collateral is held in fiat currency with a third-party banking partner. This is an innovative risk management solution that addresses counterparty risk, an issue that is taken very seriously by institutional investors in the industry. It replicates a framework commonly seen in traditional financial markets, allowing investors to better manage risk and expand their crypto asset allocations. We have also made great progress in our institutional lending business, with our fixed-maturity loan financing and liquidity capabilities increasing.
As the digital asset space welcomes an increasing number of institutional investors, including those new to the asset class, our goal remains to facilitate their entry into the industry and provide the range and quality of services that will keep them here long-term. it's here.
Our latest move aims to demonstrate this commitment by expanding the entry requirements for our VIP program to include trading volumes on legacy platforms – another industry first. Historically, high-volume investors have been able to apply for Binance VIP status based on their trading volume on other crypto exchanges. Recent changes to the Binance VIP invitation program mean investors can now use their combined spot or futures trading volume across crypto and traditional venues to apply for Binance’s VIP status, making it even easier for institutional clients to start their crypto journey with us .
Regulation that promotes innovation
While many of crypto’s earliest advocates were staunchly opposed to regulation, as the industry evolves, it’s important to acknowledge that regulation is an integral part of the lifecycle of any innovative industry. The foundation of a strong regulatory framework must be built on the fundamental principles of maximizing user protection while fostering a safe and sustainable ecosystem that can develop responsibly. I believe that users are the ultimate beneficiaries of our diligent regulatory compliance efforts, as they can enjoy the security and stability of a well-regulated digital asset ecosystem.
Over the past three months, we have made significant progress in licensing and authorization negotiations. We are also further engaging in dialogue with regulators and industry stakeholders around the world to enhance cooperation and coordination on the path to sustainable growth for the crypto industry. One result of this work is that in January this year, Gulf Binance—Thailand’s exchange and brokerage platform, a joint venture between Binance and Gulf Innova—successfully launched full operations, extending access to digital assets to Potentially millions of Thai crypto users and crypto curious people.
In addition, in accordance with the user-centered principle, we have strengthened our efforts to strengthen data security and management. Completion of a comprehensive and independent SOC 2 Type II compliance audit confirmed that Binance’s global platform operates effectively designed and implemented controls for system protection and data security. We also launched a dedicated Binance Privacy Portal to better communicate with users about their data rights and provide them with the tools to exercise these rights.
We are seeing a significant decline in crypto crime metrics in 2023, and I am convinced that Binance’s ongoing efforts to strengthen our compliance program and strengthen cooperation with global criminals have contributed to this industry trend. Building strong partnerships with law enforcement remains a top priority throughout my first 100 days, reflecting Binance’s collaborative and proactive approach to strengthening the security of the crypto ecosystem. Notable activities during this period included training sessions with INTERPOL officers and contributing to the Hong Kong Police Force’s Advanced Commercial Crime Course. As always, we continue to assist authorities by providing critical intelligence in ongoing investigations.
To further strengthen our compliance capabilities, we welcome back world-class compliance expert Steve Christie as our new Deputy Chief Compliance Officer. We continually enhance the capabilities of our compliance team by hiring leading professionals in their fields.
personal journey
Since I became CEO, one of the things I’ve started to do more of is meet face-to-face with members of the Binance community. This is perhaps the most rewarding part of the job – talking to people whose lives have measurably improved as a result of our efforts, as have many of the first-hand experiences shared with me by those who previously had little access to financial services. They only tasted financial freedom on Binance. These personal stories, and the constant support that comes with them, are heartwarming and deeply inspiring.
As a new CEO, I also met with hundreds of amazing professionals across the company. Talking to them and getting to know them made me even more convinced of the power of our decentralized, horizontally structured team. Over the first three months, I observed in detail how the robustness and depth of our talent pool translated into success across the organization through collaborative team efforts.
Finally, as our work in building partnerships and lateral connections in the industry increased, I connected with many colleagues from all corners of the Web 3.0 space. I’m pleased to hear a lot of good things from both investors and project teams about Binance Launchpad and how it connects new promising blockchain businesses with crypto-savvy investors. All in all, one of the most gratifying discoveries during the first 100 days was that the role of Binance CEO brought with it many opportunities to build new personal and professional relationships.
Don't take success for granted
There is no doubt that my first 100 days at Binance have been an exciting new period in the history of the crypto industry. What we have accomplished during this time is the result of the hard work of everyone at Binance, from co-founders to customer service agents, and the support and trust of our vibrant and passionate community.
Nonetheless, we are still in the early stages of a new era in the crypto industry, and there will be many more ups and downs on the path to financial freedom we are committed to advancing. I am determined to continue building an organization that thrives during periods of rapid growth and remains robust and resilient under less favorable conditions over the next 100 weeks, 100 months and 100 years. I know that the only way to achieve this is to focus on users, prioritize their needs, and continue to improve for them. This is Binance’s future plan.
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