Binance Official Shares Bear Market Predictions!

Binance Official Shares Bear Market Predictions!


Binance Labs head Yi He 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...

Head of Binance Labs shares his thoughts on the market

Yi He, who helped found the Binance cryptocurrency exchange with Changpeng Zhao, shared new comments. He recently took the helm of Binance Labs, the company's venture capital arm. With over $7.5 billion under his control, He is tasked with growing Binance through acquisitions and other deals. In an interview, he said there was a lot of promise in the bear market. When asked about Binance Labs' investment strategies in bull and bear markets, he said


IT DOESN'T MATTER IF WE'RE IN A BULL OR BEAR MARKET, WE GENERALLY GET WHAT WE REALLY WANT. IN A BEAR MARKET, I THINK WE NEED TO INVEST MORE AGGRESSIVELY. BUT NOT JUST TO INVEST. THERE IS A TENDENCY IN THE INVESTMENT INDUSTRY TO FOLLOW THE HERD AND MANY FUNDS ARE WORRIED THAT THEY MIGHT MISS A FOUR-YEAR OR FIVE-YEAR INVESTMENT CYCLE. SOME OF OUR LPS ALSO SUGGESTED INVESTING FASTER IN MORE PROJECTS. I TOLD THEM NOT TO BE NERVOUS.


Binance Official Shares Bear Market Predictions!

Yi He talked about web3 funds

He also talked about BinanceLabs' investment strategies and how it differs from some VC firms in the web3 ecosystem. He said that everyone knows that "a bear market is a good investment opportunity". Because in this situation, a lot of people who only want to "make some quick money" are forced to exit the industry. Now, he said, "is a good time for those who really want to run a good business and support those who believe in this industry." He also made the following statements about web3:


A KEY DIFFERENCE IN FUNDRAISING BETWEEN WEB 3.0 AND WEB 2.0: WEB3 PROJECTS MUST NECESSARILY RAISE MONEY THROUGH VC'S. THEY CAN ALSO ISSUE TOKENS AND SELL THEM TO USERS. IN SUCH A SCENARIO, THE ROLE OF A VC MAY BE MORE VALUABLE IN TERMS OF PROVIDING GUIDANCE RATHER THAN GIVING MONEY. THIS MAY INCLUDE GUIDANCE ON TECHNICAL, SECURITY ASPECTS OR THE MODEL OF TOKENS. THIS IS IMPORTANT FOR USERS AND RELEVANT COMMUNITY IS ESSENTIAL WHEN IT COMES TO MANAGING A WEB3 COMPANY.

 

What about Binance's investments?

The head of Binance Labs also discussed the company's investment in media platforms, including Forbes and Twitter. As Cryptoify.news reported, the exchange said that it decided to invest in Twitter under the influence of Elon Musk. He used the following statements:


WE ARE STILL FOLLOWING THE FORBES EVENT. THIS IS AN INVESTMENT RELATED TO AN INITIAL PUBLIC OFFERING THROUGH A LISTING. BUT IT LOOKS LIKE THERE ARE SOME CHALLENGES, SO THEY ARE MAKING ADJUSTMENTS. MAYBE SOME OF THEIR SHAREHOLDERS MAY WANT TO DILUTE THE HOLDINGS. IN TERMS OF MEDIA INVESTMENT, WHEN ELON MUSK SAID HE WANTED TO BUY TWITTER, THERE WAS THE FACTOR THAT TWITTER HAS A LARGE USER BASE AND WE THOUGHT IT WOULD BE GOOD FOR WEB3 TRAINING.


Binance continues to be the world's leading cryptocurrency exchange with a daily trading volume of over $15 billion.


Source: Coinjounal


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