During the "2025 Year-End Q&A AMA" hosted by BNB Chain, a user asked whether Binance's long-term support for FDUSD and recent support for USD1 constituted a "horse race" model. CZ responded that he did not believe it was a horse race. When a platform or ecosystem is open, many teams will enter and launch projects; this is a normal way of operating in the business world. CZ pointed out that platforms hope every project can succeed, but objectively, there will be competition between projects, and this competition is often positive. He believes that eventually, network effects will come into play, and users will naturally tend to choose the most competitive products. At the same time, CZ stated that he believes second-generation stablecoins will perform better than current stablecoins.