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WuBlockchain Weekly: Colombia’s Largest Pension Fund Launches Crypto Portfolio, Canada Proposes Crypto ATM Ban, PayPal Establishes Standalone Crypto Division, EU Expands Crypto Sanctions, Web3 Gaming Sector Contracts Sharply. For the complete article and weekly curated reports, subscribe to our Substack:

1. Colombia’s Largest Pension Fund Porvenir Launches Crypto Portfolio Enabling Indirect Bitcoin Investment via IBIT link

Porvenir, Colombia’s largest pension fund manager, has launched a crypto investment portfolio that allows users to gain indirect Bitcoin exposure by investing in BlackRock’s IBIT. The product is only available to voluntary pension accounts with a minimum investment of 100,000 Colombian pesos, approximately 25 US dollars, and requires completion of a risk assessment before participation. Porvenir stated that the move aims to attract young investors aged 18 to 45 and respond to the regional trend that the number of crypto users in Latin America has grown by 64% year-on-year to around 79 million. Previously, local pension institutions including Protección and Skandia have rolled out similar products, positioning them as long-term asset allocation tools.

2. U.S. CLARITY Act: May Progress Becomes Critical Watch Point link

There has been no obvious public progress on the U.S. crypto market structure bill CLARITY Act in the past month. It is not expected to be advanced in April, and May will become a key observation window. U.S. Memorial Day (May 25) is regarded as the deadline for completing key progress if the bill is to have a chance of passage before the election. After that, as summer approaches, legislators will leave Washington to engage in campaign activities. More than 100 crypto industry institutions signed an open letter last week, urging the Senate Banking Committee to hold a revision and review hearing. However, the advancement timeline remains unclear, and issues such as stablecoin returns have not been publicly resolved. Even if relevant issues are resolved, the House of Representatives will still need to vote on the bill again.

3. Trump Administration Advances Proposal for Strategic Bitcoin Reserve link

The Trump administration is advancing proposals related to the Strategic Bitcoin Reserve. According to Bybit’s weekly report, the White House has previously confirmed that the Trump administration plans to release an official proposal within the next two months, intending to designate approximately 200,000 Bitcoins seized by the government in law enforcement actions as national reserve assets. Meanwhile, Patrick Witt, White House Digital Asset Advisor, revealed at the Bitcoin 2026 Conference that there will be a major announcement regarding the strategic reserve in the coming weeks, with ongoing legal and legislative follow-up work. Specific implementation details and the final plan are subject to subsequent official documents.

4. EU Adopts 20th Sanctions Package Against Russia, Including Crypto Ban link

The European Union has adopted its 20th round of sanctions against Russia, one of the largest packages in the past two years. It imposes comprehensive restrictions on the crypto industry for the first time, including banning the operation of Russian crypto service providers and platforms, blocking the digital ruble and the stablecoin RUBx, and prohibiting EU entities from trading on crypto and DeFi platforms in Russia and Belarus. The sanctions also cover 20 Russian banks and relevant financial institutions. The EU stated that Russia is increasingly relying on crypto assets to evade sanctions.

5. Canada Proposes Crypto ATM Ban to Combat Fraud and Money Laundering link

Canadian police warn that scammers are using the logo of the Royal Canadian Mounted Police (RCMP) to carry out crypto asset recovery scams, targeting victims who have already been defrauded for secondary fraud. A resident previously lost approximately 5,000 Canadian dollars in a crypto remote work scam. Later, after filling out a fake RCMP official form, the resident received a call from someone claiming to be a lawyer, who alleged that about 60,000 Canadian dollars in crypto earnings under the resident’s name had been identified and offered assistance in recovering the funds. Police stressed that the RCMP will not contact individuals to inform them of detected crypto accounts, will not cooperate with private institutions in paid recovery services, and will never request any payment for fraud case investigations.

6. Canada’s Sovereign Wealth Fund AIMCo Discloses $219 Million Stake in MicroStrategy link

The Government of Canada announced in its 2026 Spring Economic Update that it plans to ban cryptocurrency ATMs to protect citizens from fraud. The government stated that crypto ATMs have become a primary method for scammers to defraud victims and for criminals to launder funds. According to statistics, Canada currently has nearly 4,000 crypto ATMs, the highest per capita in the world. Analysis by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) indicates that these machines have become a core channel for money laundering and the outflow of fraudulent funds.

7. PayPal Announces Business Restructuring: Launches Standalone Crypto Division, Plans to Spin Off Venmo as Independent Unit link

According to an official announcement from PayPal, the company has unveiled a strategic restructuring of its business and leadership team. As part of the restructuring, PayPal will transform into an operational structure consisting of three major business divisions: Checkout Solutions and PayPal, Consumer Financial Services and Venmo, and Payment Services & Crypto. The Payment Services & Crypto division will unify the company’s processing and platform capabilities, including Braintree, payment processing for small and medium-sized enterprises, and cryptocurrency business involving the PYUSD stablecoin.

8. 2026 RWA Report: Tokenized RWA Market Cap Surpasses $19.3 Billion, U.S. Treasuries and Gold Dominate link

CoinGecko released the 2026 RWA Report, showing that the market value of tokenized RWA increased by 256.7% in the past 15 months, soaring from 5.42 billion US dollars at the beginning of 2025 to 19.32 billion US dollars at the end of the first quarter of 2026, and currently accounts for 6.4% of the stablecoin market value. The report points out that tokenized US Treasury bonds remain the largest asset category, with their market value exceeding 10 billion US dollars for the first time in February this year and currently holding a market share of 67.2%. The market value of tokenized commodities has risen to 5.55 billion US dollars. Among them, gold tokens led by XAUT and PAXG have performed strongly, with their Q1 spot trading volume reaching 907 billion US dollars, surpassing the total volume for the whole year of 2025. In addition, the market value of tokenized stocks launched since mid-2025 has reached 486 million US dollars.

9. Robinhood Q1 Revenue Rises 15% YoY, Crypto Revenue Plunges 47% link

Robinhood Markets released its financial results for the first quarter of 2026, with total revenue rising 15% year-on-year to 1.07 billion US dollars and diluted earnings per share at 0.38 US dollars, representing a 3% year-on-year increase. Net deposits reached 17.7 billion US dollars, corresponding to an annualized growth rate of 22%, and total assets on the platform grew 39% year-on-year to 307 billion US dollars. Trading revenue increased 7% year-on-year to 623 million US dollars, mainly driven by income from options, stocks and event contracts, while cryptocurrency revenue fell 47% year-on-year to 134 million US dollars. Net interest income rose 24% year-on-year to 359 million US dollars.

Ark Invest, the investment firm led by Cathie Wood, purchased approximately 553,892 shares of Robinhood (HOOD) worth about 39.4 million US dollars through three of its exchange-traded index funds (ETFs) on Wednesday. Meanwhile, the institution sold 243,147 shares of its own Ark 21Shares Bitcoin ETF (ARKB) from ARKW and ARKF, valued at around 6.1 million US dollars.

10. Web3 Gaming Sector Contracts Sharply: Over 93% of Projects Defunct, Quarterly Funding Collapses by 99% link

Research institution Caladan pointed out that the Web3 gaming track is undergoing an overall contraction: approximately 93% of projects have essentially failed, the prices of related tokens have dropped by an average of about 95% from their 2022 peaks, and the financing scale of game studios has fallen by around 93% from its highest point. Meanwhile, capital allocation has also reversed significantly. In 2022, about 62.5% of Web3 venture capital flowed into the gaming sector, while the proportion dropped to single digits by 2025. The quarterly financing volume has plunged from a peak of approximately 1.6 billion US dollars to around 18 million US dollars, a decline of nearly 99%. The report believes that after a period of expansion driven by high valuations and capital, the industry has now entered a clear consolidation phase, with funds accelerating their flow into sectors such as AI, infrastructure and RWA.

Fundraising

Blockworks completes extended Series A financing with a valuation of 192 million US dollars. link

Galaxy Digital leads a 20 million US dollar financing round for fintech firm Fence. link

Tether leads a 14 million US dollar Series A financing round for digital wallet Belo. link

RWA platform Nuva Digital secures 5.2 million US dollar seed funding led by Morgan Creek Digital. link

Legend closes 3.5 million US dollar seed financing led by Electric Capital. link

Trading platform Liquid completes 18 million US dollar Series A financing led by Neo and Left Lane Capital. link

Solana Company announces the issuance of approximately 3.077 million Class A common shares, expecting to raise around 8 million US dollars. link

Solana yield trading platform Exponent finishes 5 million US dollar seed funding led by Multicoin Capital. link

Learn more, check out crypto-fundraising.info.

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Tether Q1 Profit Hits $1.04B, Reserve Buffer Reaches Record $8.23B

Tether reported approximately $1.04 billion in net profit for Q1 2026, with excess reserves rising to a record $8.23 billion, according to its latest attestation. As of March 31, total assets stood at about $191.8 billion against liabilities of $183.5 billion. Reserves remain heavily allocated to U.S. Treasuries (~$141 billion), alongside ~$20 billion in gold and ~$7 billion in Bitcoin.

Brazil Central Bank Updates eFX Rules, Bans Crypto for Cross-Border Transfers

Brazil’s central bank has issued Resolution BCB No. 561, revising rules for international payment and transfer services (eFX). The regulation explicitly prohibits the use of crypto assets in cross-border transactions, requiring all payments to be conducted via FX operations or regulated accounts.

The update also tightens compliance requirements, sets transaction limits and mandates reporting, KYC procedures, and data retention for up to 10 years. The new rules will take effect on October 1, 2026.

According to Bloomberg, Hiromi Yamaji, CEO of Japan Exchange Group (JPX), Japan’s largest securities exchange holding company, stated that JPX will move forward with preparations to list crypto asset ETFs once relevant legal reforms and tax treatments are clarified, with the earliest launch possible in 2027, though it could be delayed to 2028 depending on legislative progress.

On April 30 (ET), Bitcoin spot ETFs recorded a total net inflow of $14.7578 million, marking the first net inflow after three consecutive days of net outflows. Ethereum spot ETFs saw a total net outflow of $23.6426 million, extending their net outflow streak to four consecutive days.

Highlight Clip

Cathie Wood: They Mocked Us for Buying Bitcoin In 2015  

On April 28, 2026, Cathie Wood, CEO and CIO of ARK Invest, shared her early experiences investing in digital assets on The Rollup podcast. Cathie Wood stated that when ARK took its first position in Bitcoin in 2015, they were widely mocked, with many dismissing it as a mere marketing gimmick. 

However, she believed this widespread skepticism only made her more interested in the technology, signaling they were onto a massive opportunity. Wood expressed that today, Bitcoin has established a true global monetary system and completely owns that space.

According to DefiLlama, April saw the highest number of crypto hacking incidents on record. CertiK Alert reported that confirmed losses from exploits totaled about $651 million in April, including around $3.5 million attributed to phishing. Excluding the February 2025 Bybit incident, April recorded the highest losses since March 2022, when losses reached about $715 million.

Highlight Clip

Arbitrum SC Member: Why We Used Emergency Powers to Freeze $72M Linked to North Korean Hackers

In an April 23 Coinage interview, Arbitrum Security Council member Griff Green explained using emergency powers to freeze $72 million controlled by North Korean hackers. He noted that while doing nothing posed no risk to the council, the existential threat to DeFi demanded action. 

The funds lingering in a Layer 2 address provided a window to coordinate with SEAL 911, triggering the first-ever 9-of-12 multi-sig emergency execution to transfer and freeze the assets. Addressing concerns about a few individuals intervening on-chain, Green stated that true checks and balances ultimately come from the market and token holders.

Musk: “Some Crypto Assets Have Merit, but Most of Them Are Scams”

According to Fortune, during his lawsuit against OpenAI, Elon Musk said that “some crypto assets have merit, but most are scams,” in response to questions about OpenAI’s 2018 plan to issue tokens via an ICO to fund its nonprofit operations. Despite previously supporting the sector, including Tesla’s $1.5 billion Bitcoin purchase in 2021 and his influence on Dogecoin, Tesla sold about 75% of its crypto holdings in 2022.

Binance co-CEO Yi He's Hong Kong AMA: 

I agree that Bitcoin will definitely replace and surpass gold; it's only a matter of time. 

The new goal Binance set for our employees this year is to grow our user base tenfold. 

Whether a project is worth paying attention to depends first on whether it is truly vibrant, has real users, and is profitable; second, on whether it is genuinely willing to use its own revenue and profits to empower its token. Read more:

PayPal Reorganizes: Payment Services & Crypto Now One of Three Core Segments

PayPal has unveiled a strategic reorganization of its business and leadership team. The company will transition to a simplified three-business operating model: Checkout Solutions & PayPal, Consumer Financial Services & Venmo, and Payment Services & Crypto.

The "Payment Services & Crypto" division will unify the company's processing capabilities, including Braintree and cryptocurrency offerings (including the PYUSD stablecoin).

In a free AMA format at the BNB Chain event in Hong Kong, Yi He shared her thoughts on the BNB Chain ecosystem, the long-term value of Bitcoin, the relationship between AI and Web3, women’s growth, user trust, asset allocation for ordinary investors, as well as crypto industry regulation and project valuation logic. She stated that the core of BNB Chain and Binance remains “trust” and long-term co-creation; she is optimistic about Bitcoin’s global financial value over a longer cycle, and believes that AI and blockchain are not in a zero-sum competition, but rather two technological paths that will run parallel and complement each other in the long term.

For ordinary investors, Yi He recommended prioritizing allocations in top-tier and relatively stable assets, while reserving only a small proportion for high-risk opportunities. At the same time, she suggested building independent cognition, controlling position sizes, understanding risks, and avoiding being led by market narratives. Regarding project evaluation, she believes the key lies in whether a project genuinely has users, whether it can generate sustainable profits, and whether it is willing to give value back to its token and community. Overall, this AMA served more as a public exchange centered around “cognition, trust, execution, and long-termism.”

The views expressed in this transcript do not represent the opinions of Wu Blockchain and do not constitute any investment advice. Please strictly comply with local laws and regulations. Audio transcription and translation were generated by GPT and may contain errors.

Advice to Young Women: Courage, Cognition, Execution, and Ambition Are Indispensable

Question: As such a young and successful female CEO, what advice do you have for young women?

Yi He: Actually, there is a very well-established theory that if a person wants to be successful, they must possess at least some of four key traits. I believe the first is courage, the second is cognition, the third is execution, and the fourth is ambition.

I feel that Chinese people are often quite shy about using the word “ambition.” However, I believe that whether for men, women, or anyone else, wanting to succeed and desiring a better life is never something to be ashamed of.

The Relationship Between AI and Blockchain: Not Pure Competition, But Parallel and Complementary Technology Branches

Question: The current landscape of the entire Web3 industry is still highly complex. From February and March up to now, the market and its variables have been changing. How do you view the impact and opportunities of AI within the broader Web3 industry?

Yi He: I’ve been thinking about this recently. I believe many people here today have a background in the internet, embrace Web3, and are simultaneously paying attention to AI. Therefore, people often simply perceive AI and blockchain as being in a competitive relationship. From the perspective of short-term capital volume, market funds do flow between different sectors, which is why it feels like they are competing.

But fundamentally, I do not believe they are in an absolute competitive relationship. Whenever a new technology emerges, the most important question is: what problem does it actually solve? Does it solve efficiency issues, cost issues, or innovation issues? Can it bring broader changes to a certain industry? Only under these circumstances will it become a truly viable and competitive business model.

Therefore, I believe that AI and blockchain are not simply in competition; rather, they exist on two different branches of technological innovation and will manifest various forms of integration in the future.

Bitcoin’s Long-Term Value: Agreeing It Has the Potential to Surpass Gold Over a Long Cycle

Question: How many years do you think it will take for Bitcoin to surpass the status of gold, or even the US dollar?

Yi He: You mean Bitcoin surpassing gold, right? I agree that Bitcoin will definitely replace and surpass gold; it’s just a matter of time. I cannot tell you exactly how many years it will take, but I agree with this perspective.

If you actually try to buy a pile of gold and then attempt to travel to many places with it, you will find it extremely inconvenient. I once received a pure gold coin as a gift, which even had a BNB logo stamped on it. However, during a layover, that gold coin was stolen near customs. So from my personal experience, the reason I entered this industry without hesitation and became optimistic about Bitcoin back then was because I deeply believed that if the internet can connect people all over the world, there must also be a financial system capable of connecting everyone globally. And right now, Bitcoin is one of the most optimal candidates for this system.

Binance’s Vision: From a Trading Platform to Global Financial Infrastructure

Question: What are the true mission and values of Binance?

Yi He: Actually, from the very beginning, we didn’t just want to build a single product. When we first started Binance in 2017, our imagination was: if one day there was a product that could meet most people’s various needs — whether for payments, trading, or wealth management — what would it look like?

So, you will see now that our products are expanding; not just spot trading, but also futures, wealth management, payments, prediction markets, and various other services. We hope to truly become a global financial infrastructure, not just a trading platform.

Many people say we have three long-term goals, which sounds quite impressive. But actually, the new goal we set for our employees this year is to grow our user base tenfold. Growing tenfold means that our users won’t just come to trade; in the future, they might also use Binance for daily payments, routine wealth management, and regular financial activities in more countries. Trading is merely one of the functions.

Women’s Growth and Gender Relations: Become a Strong Individual First, Then Consider Relationship Choices

Question: There is a very interesting phenomenon in China right now: if a woman is successful, people will label her as either “masculine” or “feminine.” How do you view the discussions around “female empowerment” and “gender relations”?

Yi He: I have also thought about this question for a long time. Later, I figured it out: I am “the most competitive among men, and the most competitive among women.”

But I believe that no matter how others define it, the essence of growth is: who are you? You need to be like a tree, strong enough to stand on your own. When you are strong enough to support yourself, gender relations become just one important option in your life, not the entirety of it.

So, rather than the so-called “masculinity” or “femininity,” what is more important is: who are you, where do you come from, and where are you going? Whether you are at a peak or a trough in life, can you face yourself with absolute honesty?

Many people easily fall into a state of unclear self-cognition. You can be temporarily not strong enough, but you must at least know that you are not strong enough. You don’t have to announce it to everyone, but you need to know that you need to become stronger. Many people lack even the courage to admit they are not strong enough, which makes it very difficult to take the first real step toward growth.

Platforms Should Not Be Deified, But Should Strive to Solve Real Problems

Question: In some previous cases where users sought help after suffering asset losses, why was Binance willing to invest so much effort into helping them? What were you thinking at the time?

Yi He: I think many times, people might over-interpret this. Because I am someone who easily empathizes with others, it is also very easy for me to put myself in their shoes. When I see a user say, “I am a college student, and all this money is gone,” I think to myself that if I were them, I would be absolutely desperate. If I have the ability to help them a bit, I will try my best to do so.

However, from a business logic perspective, we cannot expect every trading platform to bear all the losses for everyone; that is impossible to achieve. So, in many cases, what we can actually do is to try our best to help users solve problems within reasonable boundaries.

What we hope to do is to expand this industry and raise the overall water level of the entire sector. This way, in a healthier ecosystem, users have the opportunity to make money, and platforms can achieve long-term development. We only earn the money we are supposed to earn, and on this basis, we make normal decisions to help users solve practical problems.

Many people might say, isn’t this too “humanitarian”? I want to say, if you put yourself in that position — if you personally were running a company, would you want the company to merely maintain a high profit margin, or would you want it to have more users and create greater value? Most people would probably still choose to stand on the side of the users.

I am inherently a very positive-thinking person. I feel that if you look at this world and the first thing you see is malice, then you will be surrounded by malice; if you see heaven, you will be surrounded by angels. So I try to face problems with a positive mindset.

Strategies for Ordinary Investors: Prioritize Top-Tier Assets, Use Small Positions for High-Risk Opportunities

Question: Currently, for ordinary investors, especially young beginners, which sectors should they focus on the most?

Yi He: I believe that “focusing on sectors” is inherently chasing trends. But most trends will eventually drop while you are chasing them. For young people and beginners, a more ideal approach is actually not to chase trends every day, but to try to choose the most top-tier assets and the assets with the highest certainty, especially within the few massive themes in the industry.

Of course, you can take a very small percentage of your funds to take risks, such as 1%, 2%, or 5%, but you must strictly control your position sizes. The vast majority of your asset allocation should still be placed in relatively stable and mature targets. You can use a very small amount of money for trial and error, but do not bet a large amount of capital on high-risk assets.

Project Valuation Logic: Look at Users, Revenue, and the Willingness to Provide Real Empowerment to Tokens

Question: Nowadays, many crypto projects have companies that are performing well and generating good revenue, but their token performance is very poor. How do you view this issue? What should project teams do in the future?

Yi He: This is actually a very interesting question. We have previously spoken with some project teams that have already launched, and they themselves would say: our business is good, our team is good, but our token performance is just poor. So why not add some utility or empowerment? They would say it’s because they don’t want to provoke regulators, regulators don’t allow it, so the token can only be this way. Because it is a “governance token,” and governance tokens cannot have real utility.

However, I believe this logic is not necessarily completely correct. As time progresses and as policies toward the crypto industry gradually loosen in some highly regulated countries, I firmly believe there will be project teams willing to provide real empowerment to their tokens, just like BNB.

Fundamentally, whether a project is worth looking at depends first on whether it truly has vitality, genuinely has users, and actually makes money; second, on whether it is genuinely willing to empower its token with its revenue and interests. If it lacks both of these points, then the project is practically not worth looking at.

Will You Publish a Book in the Future?

Question: Many people really like the way you express yourself and want to know if you will publish a book in the future?

Yi He: I think writing is very interesting, but to be honest, I often feel that many of the things I want to say might have already been expressed better by others. So whether or not I will continue to write systematically will depend on future plans.

But I am very grateful that everyone is willing to listen to me share these things. The reason you believe in me is not actually because I am so special, but because you believe in Binance and the Binance community. That is why we have weathered many difficulties together.

How to View the Relationship Between a CEO’s Personal Image and Company Culture

Question: How do you view the relationship between a CEO’s personal image and company culture? Many people say that investing is essentially investing in people; what is your take on this?

Yi He: I believe the phrase “investing is investing in people” holds true in many cases. Because investing in people is essentially investing in the founder — investing in the founder’s cognition, values, execution, and the organizational culture they have built.

You could also understand it this way: a company’s culture is largely influenced by its founders. Currently, we are applying for licenses and establishing standards in more countries globally, which is mostly about laying the groundwork for compliance and regulation; meanwhile, I personally focus more on the overall organizational structure of the company, as well as user growth and user experience.

Investment Methodology: Build a Cognitive Framework First, Then Discuss Trading and Risk Control

Question: In many communities today, some people get overly excited or extremely pessimistic due to short-term price fluctuations. How do you view this phenomenon? How should ordinary people participate in this industry?

Yi He: I sincerely hope that everyone builds products that people actually use, rather than just relying on emotions and narratives.

I deeply believe that the amount of money a person makes is inherently the monetization of their cognition. But this monetization of cognition isn’t just about “I have an idea”; it’s about whether you have truly executed that idea, and during the execution process, learned, iterated, improved your execution capabilities, and further elevated your cognition.

So, when I see some so-called OGs still talking big everywhere, I feel a bit emotional. For ordinary people, you will always encounter some very special opportunities in life, such as buying BNB or BTC and achieving financial freedom, or catching some major opportunities in the AI era. But more importantly, even if you buy in, you won’t necessarily make money. Why? Because you might not truly understand the structure of that industry; you don’t know why that asset is going up.

If you are merely “following the trend,” you lack that larger cognitive logic. Therefore, whether in entrepreneurship or investment, I believe that ordinary people are better suited for relatively steady choices. You might not be able to achieve massive success overnight, but this is a path more suitable for the majority of people.

Of course, there are also many highly skilled trading talents who are indeed very good at trading and can turn small capital into large sums. But not everyone is suited for that path. We need to be truly professional in one specific area, rather than trying to dabble in everything. Start with what you are good at, what you understand, and what you find valuable, and then simultaneously learn about investing or trading. Even if you do decide to trade, you must ensure proper risk control.

Most Projects Will Ultimately Fail; Be Clear About What You Are Doing

Question: Right now, many projects use your name or Binance’s name for promotion, and some people in the community might mislead newcomers. Do you have any reminders for everyone?

Yi He: Do not deceive yourself, and do not let others deceive you.

Binance Launchpool, project listings, and various official actions occur because the projects themselves meet our standards. It’s not because of something I said, nor is it because someone attached the name “Yi He” to their project that they will definitely receive resources. Please do not understand this logic backwards.

I also hope everyone understands that many of the current documents and rules are not tailored for any specific project. Binance respects the market and respects the rules. But please never assume that Binance will financially support every project you see on the BNB Chain.

I will tell you that 99.9% of projects may eventually go to zero. You must understand that most projects will fail. Under this premise, it is more important to have a clear cognition yourself and not be fooled by others. Do not easily believe it when someone says, “As long as it has Yi He’s name on it, Binance will definitely list it.” This kind of thinking is extremely dangerous; you must be careful.

Finally, just a few quick words. Every time I stand on a stage, I hope my trip here is not in vain. I hope that apart from enjoying the food, you can also find something useful for yourselves through our communication.

Fundamentally, we enable each other’s success. No single person can become a remarkable industry figure just by saying a few words on their own. Ultimately, it relies on the entire industry moving upward together. I also hope that for all the friends here today, you can all build your projects well and improve yourselves in the future.

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In a free AMA format at the BNB Chain event in Hong Kong, Yi He shared her thoughts on the BNB Chain ecosystem, the long-term value of Bitcoin, the relationship between AI and Web3, women’s growth, user trust, asset allocation for ordinary investors, as well as crypto industry regulation and project valuation logic. She stated that the core of BNB Chain and Binance remains “trust” and long-term co-creation; she is optimistic about Bitcoin’s global financial value over a longer cycle, and believes that AI and blockchain are not in a zero-sum competition, but rather two technological paths that will run parallel and complement each other in the long term.

For ordinary investors, Yi He recommended prioritizing allocations in top-tier and relatively stable assets, while reserving only a small proportion for high-risk opportunities. At the same time, she suggested building independent cognition, controlling position sizes, understanding risks, and avoiding being led by market narratives. Regarding project evaluation, she believes the key lies in whether a project genuinely has users, whether it can generate sustainable profits, and whether it is willing to give value back to its token and community. Overall, this AMA served more as a public exchange centered around “cognition, trust, execution, and long-termism.”

The views expressed in this transcript do not represent the opinions of Wu Blockchain and do not constitute any investment advice. Please strictly comply with local laws and regulations. Audio transcription and translation were generated by GPT and may contain errors.

Advice to Young Women: Courage, Cognition, Execution, and Ambition Are Indispensable

Question: As such a young and successful female CEO, what advice do you have for young women?

Yi He: Actually, there is a very well-established theory that if a person wants to be successful, they must possess at least some of four key traits. I believe the first is courage, the second is cognition, the third is execution, and the fourth is ambition.

I feel that Chinese people are often quite shy about using the word “ambition.” However, I believe that whether for men, women, or anyone else, wanting to succeed and desiring a better life is never something to be ashamed of.

The Relationship Between AI and Blockchain: Not Pure Competition, But Parallel and Complementary Technology Branches

Question: The current landscape of the entire Web3 industry is still highly complex. From February and March up to now, the market and its variables have been changing. How do you view the impact and opportunities of AI within the broader Web3 industry?

Yi He: I’ve been thinking about this recently. I believe many people here today have a background in the internet, embrace Web3, and are simultaneously paying attention to AI. Therefore, people often simply perceive AI and blockchain as being in a competitive relationship. From the perspective of short-term capital volume, market funds do flow between different sectors, which is why it feels like they are competing.

But fundamentally, I do not believe they are in an absolute competitive relationship. Whenever a new technology emerges, the most important question is: what problem does it actually solve? Does it solve efficiency issues, cost issues, or innovation issues? Can it bring broader changes to a certain industry? Only under these circumstances will it become a truly viable and competitive business model.

Therefore, I believe that AI and blockchain are not simply in competition; rather, they exist on two different branches of technological innovation and will manifest various forms of integration in the future.

Bitcoin’s Long-Term Value: Agreeing It Has the Potential to Surpass Gold Over a Long Cycle

Question: How many years do you think it will take for Bitcoin to surpass the status of gold, or even the US dollar?

Yi He: You mean Bitcoin surpassing gold, right? I agree that Bitcoin will definitely replace and surpass gold; it’s just a matter of time. I cannot tell you exactly how many years it will take, but I agree with this perspective.

If you actually try to buy a pile of gold and then attempt to travel to many places with it, you will find it extremely inconvenient. I once received a pure gold coin as a gift, which even had a BNB logo stamped on it. However, during a layover, that gold coin was stolen near customs. So from my personal experience, the reason I entered this industry without hesitation and became optimistic about Bitcoin back then was because I deeply believed that if the internet can connect people all over the world, there must also be a financial system capable of connecting everyone globally. And right now, Bitcoin is one of the most optimal candidates for this system.

Binance’s Vision: From a Trading Platform to Global Financial Infrastructure

Question: What are the true mission and values of Binance?

Yi He: Actually, from the very beginning, we didn’t just want to build a single product. When we first started Binance in 2017, our imagination was: if one day there was a product that could meet most people’s various needs — whether for payments, trading, or wealth management — what would it look like?

So, you will see now that our products are expanding; not just spot trading, but also futures, wealth management, payments, prediction markets, and various other services. We hope to truly become a global financial infrastructure, not just a trading platform.

Many people say we have three long-term goals, which sounds quite impressive. But actually, the new goal we set for our employees this year is to grow our user base tenfold. Growing tenfold means that our users won’t just come to trade; in the future, they might also use Binance for daily payments, routine wealth management, and regular financial activities in more countries. Trading is merely one of the functions.

Women’s Growth and Gender Relations: Become a Strong Individual First, Then Consider Relationship Choices

Question: There is a very interesting phenomenon in China right now: if a woman is successful, people will label her as either “masculine” or “feminine.” How do you view the discussions around “female empowerment” and “gender relations”?

Yi He: I have also thought about this question for a long time. Later, I figured it out: I am “the most competitive among men, and the most competitive among women.”

But I believe that no matter how others define it, the essence of growth is: who are you? You need to be like a tree, strong enough to stand on your own. When you are strong enough to support yourself, gender relations become just one important option in your life, not the entirety of it.

So, rather than the so-called “masculinity” or “femininity,” what is more important is: who are you, where do you come from, and where are you going? Whether you are at a peak or a trough in life, can you face yourself with absolute honesty?

Many people easily fall into a state of unclear self-cognition. You can be temporarily not strong enough, but you must at least know that you are not strong enough. You don’t have to announce it to everyone, but you need to know that you need to become stronger. Many people lack even the courage to admit they are not strong enough, which makes it very difficult to take the first real step toward growth.

Platforms Should Not Be Deified, But Should Strive to Solve Real Problems

Question: In some previous cases where users sought help after suffering asset losses, why was Binance willing to invest so much effort into helping them? What were you thinking at the time?

Yi He: I think many times, people might over-interpret this. Because I am someone who easily empathizes with others, it is also very easy for me to put myself in their shoes. When I see a user say, “I am a college student, and all this money is gone,” I think to myself that if I were them, I would be absolutely desperate. If I have the ability to help them a bit, I will try my best to do so.

However, from a business logic perspective, we cannot expect every trading platform to bear all the losses for everyone; that is impossible to achieve. So, in many cases, what we can actually do is to try our best to help users solve problems within reasonable boundaries.

What we hope to do is to expand this industry and raise the overall water level of the entire sector. This way, in a healthier ecosystem, users have the opportunity to make money, and platforms can achieve long-term development. We only earn the money we are supposed to earn, and on this basis, we make normal decisions to help users solve practical problems.

Many people might say, isn’t this too “humanitarian”? I want to say, if you put yourself in that position — if you personally were running a company, would you want the company to merely maintain a high profit margin, or would you want it to have more users and create greater value? Most people would probably still choose to stand on the side of the users.

I am inherently a very positive-thinking person. I feel that if you look at this world and the first thing you see is malice, then you will be surrounded by malice; if you see heaven, you will be surrounded by angels. So I try to face problems with a positive mindset.

Strategies for Ordinary Investors: Prioritize Top-Tier Assets, Use Small Positions for High-Risk Opportunities

Question: Currently, for ordinary investors, especially young beginners, which sectors should they focus on the most?

Yi He: I believe that “focusing on sectors” is inherently chasing trends. But most trends will eventually drop while you are chasing them. For young people and beginners, a more ideal approach is actually not to chase trends every day, but to try to choose the most top-tier assets and the assets with the highest certainty, especially within the few massive themes in the industry.

Of course, you can take a very small percentage of your funds to take risks, such as 1%, 2%, or 5%, but you must strictly control your position sizes. The vast majority of your asset allocation should still be placed in relatively stable and mature targets. You can use a very small amount of money for trial and error, but do not bet a large amount of capital on high-risk assets.

Project Valuation Logic: Look at Users, Revenue, and the Willingness to Provide Real Empowerment to Tokens

Question: Nowadays, many crypto projects have companies that are performing well and generating good revenue, but their token performance is very poor. How do you view this issue? What should project teams do in the future?

Yi He: This is actually a very interesting question. We have previously spoken with some project teams that have already launched, and they themselves would say: our business is good, our team is good, but our token performance is just poor. So why not add some utility or empowerment? They would say it’s because they don’t want to provoke regulators, regulators don’t allow it, so the token can only be this way. Because it is a “governance token,” and governance tokens cannot have real utility.

However, I believe this logic is not necessarily completely correct. As time progresses and as policies toward the crypto industry gradually loosen in some highly regulated countries, I firmly believe there will be project teams willing to provide real empowerment to their tokens, just like BNB.

Fundamentally, whether a project is worth looking at depends first on whether it truly has vitality, genuinely has users, and actually makes money; second, on whether it is genuinely willing to empower its token with its revenue and interests. If it lacks both of these points, then the project is practically not worth looking at.

Will You Publish a Book in the Future?

Question: Many people really like the way you express yourself and want to know if you will publish a book in the future?

Yi He: I think writing is very interesting, but to be honest, I often feel that many of the things I want to say might have already been expressed better by others. So whether or not I will continue to write systematically will depend on future plans.

But I am very grateful that everyone is willing to listen to me share these things. The reason you believe in me is not actually because I am so special, but because you believe in Binance and the Binance community. That is why we have weathered many difficulties together.

How to View the Relationship Between a CEO’s Personal Image and Company Culture

Question: How do you view the relationship between a CEO’s personal image and company culture? Many people say that investing is essentially investing in people; what is your take on this?

Yi He: I believe the phrase “investing is investing in people” holds true in many cases. Because investing in people is essentially investing in the founder — investing in the founder’s cognition, values, execution, and the organizational culture they have built.

You could also understand it this way: a company’s culture is largely influenced by its founders. Currently, we are applying for licenses and establishing standards in more countries globally, which is mostly about laying the groundwork for compliance and regulation; meanwhile, I personally focus more on the overall organizational structure of the company, as well as user growth and user experience.

Investment Methodology: Build a Cognitive Framework First, Then Discuss Trading and Risk Control

Question: In many communities today, some people get overly excited or extremely pessimistic due to short-term price fluctuations. How do you view this phenomenon? How should ordinary people participate in this industry?

Yi He: I sincerely hope that everyone builds products that people actually use, rather than just relying on emotions and narratives.

I deeply believe that the amount of money a person makes is inherently the monetization of their cognition. But this monetization of cognition isn’t just about “I have an idea”; it’s about whether you have truly executed that idea, and during the execution process, learned, iterated, improved your execution capabilities, and further elevated your cognition.

So, when I see some so-called OGs still talking big everywhere, I feel a bit emotional. For ordinary people, you will always encounter some very special opportunities in life, such as buying BNB or BTC and achieving financial freedom, or catching some major opportunities in the AI era. But more importantly, even if you buy in, you won’t necessarily make money. Why? Because you might not truly understand the structure of that industry; you don’t know why that asset is going up.

If you are merely “following the trend,” you lack that larger cognitive logic. Therefore, whether in entrepreneurship or investment, I believe that ordinary people are better suited for relatively steady choices. You might not be able to achieve massive success overnight, but this is a path more suitable for the majority of people.

Of course, there are also many highly skilled trading talents who are indeed very good at trading and can turn small capital into large sums. But not everyone is suited for that path. We need to be truly professional in one specific area, rather than trying to dabble in everything. Start with what you are good at, what you understand, and what you find valuable, and then simultaneously learn about investing or trading. Even if you do decide to trade, you must ensure proper risk control.

Most Projects Will Ultimately Fail; Be Clear About What You Are Doing

Question: Right now, many projects use your name or Binance’s name for promotion, and some people in the community might mislead newcomers. Do you have any reminders for everyone?

Yi He: Do not deceive yourself, and do not let others deceive you.

Binance Launchpool, project listings, and various official actions occur because the projects themselves meet our standards. It’s not because of something I said, nor is it because someone attached the name “Yi He” to their project that they will definitely receive resources. Please do not understand this logic backwards.

I also hope everyone understands that many of the current documents and rules are not tailored for any specific project. Binance respects the market and respects the rules. But please never assume that Binance will financially support every project you see on the BNB Chain.

I will tell you that 99.9% of projects may eventually go to zero. You must understand that most projects will fail. Under this premise, it is more important to have a clear cognition yourself and not be fooled by others. Do not easily believe it when someone says, “As long as it has Yi He’s name on it, Binance will definitely list it.” This kind of thinking is extremely dangerous; you must be careful.

Finally, just a few quick words. Every time I stand on a stage, I hope my trip here is not in vain. I hope that apart from enjoying the food, you can also find something useful for yourselves through our communication.

Fundamentally, we enable each other’s success. No single person can become a remarkable industry figure just by saying a few words on their own. Ultimately, it relies on the entire industry moving upward together. I also hope that for all the friends here today, you can all build your projects well and improve yourselves in the future.

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Canadian Sovereign Wealth Fund AIMCo Discloses $219M Stake in MicroStrategy

According to BitcoinTreasuries, the $142 billion Alberta Investment Management Corp (AIMCo), owned by the Canadian government, disclosed purchasing 1.38 million shares of MicroStrategy (MSTR) valued at $219 million. As one of Canada's largest institutional investment managers, this acquisition marks the organization's first allocation toward Bitcoin-related treasury assets.

Shinhan Card to Pilot Stablecoin Payments on Solana Testnet

Shinhan Card, one of South Korea’s largest credit card companies, announced a partnership with the Solana Foundation to build a stablecoin payment system on the Solana blockchain. Shinhan Card said it will run an advanced proof-of-concept on Solana’s testnet this year, focusing on real-world consumer-to-merchant payment scenarios and testing the security and stability of non-custodial wallets.

On April 29 (ET), U.S. spot Bitcoin ETFs recorded total net outflows of $138 million. Morgan Stanley’s MSBT posted the largest single-day net inflow among Bitcoin spot ETFs at $10.81 million. Spot Ethereum ETFs saw total net outflows of $87.73 million, led by Fidelity’s FETH with $48.37 million in net outflows.

Bybit CEO Claims Malaysia Watchlist Lifted After Regulator Talks

Bybit CEO Ben Zhou posted that Bybit has been removed from the Securities Commission Malaysia’s investor alert list following “constructive” engagement and alignment with local requirements. He also highlighted Bybit’s recent lead investment in Hata, a Malaysia-based crypto platform with local licenses, and described regulated local infrastructure as critical for long-term industry growth and user trust, calling Malaysia a key market for regional crypto adoption.

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Michael Saylor: Satoshi Already Answered How Bitcoin Can Respond to the Quantum Threat

Strategy founder Michael Saylor said in an April 13 interview with Bankless that “the more Bitcoin we buy, the better it is for the entire ecosystem,” and made clear that Strategy will not turn defensive as its Bitcoin holdings grow. 

He said the company's core strategy remains the same: raise capital, buy Bitcoin, and keep accumulating, rather than move toward diversification.Saylor also said Strategy is a pure Bitcoin stock, not a complex product mixed with other assets, and that the more Bitcoin it holds, the clearer and more transparent the company’s structure becomes.