Binance’s Gaming Path

Author: Observer Lao Wang; Source: C Labs Crypto Observation

Binance's growth path is like a carefully planned game. Every time the industry is turbulent, it can step on the rhythm and achieve a leap.

I. 94 ban, decisively go overseas

On September 4, 2017, the People's Bank of China and seven other ministries and commissions jointly issued the "Announcement on Preventing the Risks of Token Issuance and Financing", requiring the prohibition of virtual currency transactions.

At that time, the two strongest exchanges were still OKX and Huobi, but their founders Xu Mingxing and Li Lin chose to stay in China.

The follow-up was that Xu Mingxing said he would donate OKX to the country.

Li Lin sold all of his Huobi shares and posted on his WeChat Moments that he was no longer the actual controller and shareholder of Huobi Global, nor did he have any authority.

During this period, CZ resolutely went overseas and took the top spot in the exchange in a short period of time, until now.

Second, do not make mistakes, wait for opponents to make mistakes

Before the collapse, FTX was once the strongest competitor to challenge Binance's leading position, and was once supported by major VCs and even American politicians.

FTX collapsed afterwards.

Bybit has also been gaining momentum in recent years, with its trading volume surpassing other competitors and becoming the second largest in the market.

Then Bybit was stolen, and panic spread. It attracted a large amount of funds with its security and liquidity.

At present, in the track of centralized exchanges, Binance is still firmly in the first place, and no opponent is strong enough to challenge its position.

Three. Focus on the chain, and come from behind?

After the meme-cutting leeks industry chain of the SOL chain was exposed at the beginning of this year, Solana cooled down.

After that, Binance made precise efforts in BSC to further strengthen its public chain ecology.

And as if by God, the stolen funds of Bybit were laundered through the OKX wallet, which led to its regulatory requirements to suspend trading, and a short-term gap in the market appeared.

Binance Wallet once again became the best alternative, taking the opportunity to attract users by waiving transaction fees.

So far, CZ has publicly called for $TST and $Mubarak

He Yi also publicly supported BNB Card.

If Binance can take advantage of the situation to change the old style of Binance Chain meme, it can continue to maintain its dominant position in the on-chain era.

If Binance also becomes the dominant player on the blockchain, the impact of this event will be no less than Tencent launching WeChat in the mobile Internet era after QQ in the PC era.