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In-depth | He Yi, from a rural girl to the richest woman in the cryptocurrency circle, the woman behind Binance’s 700 billion business empire
This article reviews in detail the development and entrepreneurial journey of Binance co-founder He Yi. The content is rich and the article is long. I hope you can read it patiently and experience Yi Jie's extraordinary life with Bu Ai. * The video version can be watched on the YT channel "Wang Buai's Encryption Classroom". Welcome to follow and like~ Not long ago, a letter of appeal written to the US federal court attracted much attention. I believe everyone knows it later: In November 2023, Binance, the world's largest cryptocurrency exchange, received a "huge fine" of US$4.3 billion from the U.S. Department of Justice. Its founder CZ Zhao Changpeng was sentenced to 4 months in prison and subsequently resigned as CEO.
Global debt worries are heating up: gold ETFs attracted $18 billion in August, the second-largest monthly inflow on record… Isn’t the market saying this—people aren’t afraid of inflation, they’re afraid they can’t pay back their debts? U.S. Treasury yields can’t be kept in check, so gold keeps benefiting. Friends, is this round true safe-haven demand—or are we just catching the bid?
U.S. Treasuries fell instead of rising, the U.S. dollar index kept sliding for three straight days, yet gold prices managed to regain the 4,400 level… Doesn’t this mean the market is saying: Bessun specifically called it out—oil prices at $100 and long-end yields rising are pushing upward, and your “asymmetric information” hasn’t been able to suppress the situation. Even more surreal, on Wednesday Trump said the war would be ended immediately after the mid-war election, while the war room is discussing whether Tehran might hold out until 2029. Friends, in this round, are we seeing the market believe in empty talk, or are we seeing the trajectory of real money and real prices?
Jiang Zhuoer directly stepped in to bottom-fish BNC, and even claimed it’s basically buying BNB at a 50% discount... the math checks out, though: BNC holds $400 million worth of BNB, market cap is under $200 million, mNAV is only 49%, and at $4.5 you’re buying a 5% position. With it at this level, can you still get on board? First, look at liquidity—don’t go rushing in again to become fuel. Friends, is this a bargain you’re picking up, or catching a flying knife?
BNC4’s on-chain price goes straight to 7x of the underlying stock—arbitrageurs raked in $230,000 in one go… Is that insane?! Four.meme’s “take a stock public on-chain early” move takes the Meme playbook and ports it to U.S. stocks, and the BNC underlying stock also surged 50%. Can you still jump in at this level? First, look at liquidity: this on-chain pool swings wildly both up and down—charging in is like handing yourself over to be prey. Friends, is this round an experiment or a harvest?
Iran talks tough, and Trump replies directly with: “End it immediately after the election”… Is this turning oil prices into a campaign prop? Tehran says it’s preparing for a larger-scale war, while Trump hints that high oil prices should persist until after the midterm elections. Isn’t that basically using geopolitical risks to throw dust in voters’ eyes? Friends, whether oil prices rise or fall isn’t about missiles anymore—it’s about votes.
In August, family offices participated in 109 transactions in the encrypted market and disclosed total financing of $16.9 billion, of which 27% were in later rounds, with new projects accounting for a higher share. YZi Labs ranked as the world’s second most active family office, participating in 10 financing rounds with a total size of $42.1 million. On the other hand, DAT stocks averaged a 106% rise in August, far exceeding the underlying assets. Family offices are so active—are they bullish on the sector, or are they just chasing the highs? Friends, don’t just watch the excitement—first, see whether you can keep up.
It was reported that accounts under Trump made 23 “stock-market genius–level” trades: bought on the first day of the war, precisely bottom-fished before the crackdown was paused, then after the attacks resumed, sold out to escape at the top—floating profit over one million US dollars… Is this operation even more like Buffett than Buffett himself? But the problem is, since the president himself has stepped in to play short-term trades, how can this market be played at all? Friends, do you believe this round is real skill—or did they see something in advance?
Republicans in midterm elections directly “pretend that Trump is on the ballot”… is this turning the congressional race into a presidential reality show? By using Trump as a traffic-code, they’re betting that the base’s feverish enthusiasm will outweigh the loss of swing voters. But historically, once a personal halo overwhelms the issues, the backlash often comes even harder. Friends, is this a high-stakes gamble—or handing someone over to be counted out?
DeepSeek Flash series API will cut prices across the board starting tomorrow at noon. Cached hits can drop by up to 60%, while uncached hits will drop by 33.33%. The output price will be reduced by 11.11%. This price cut directly lowers development costs—developers and people running apps get to enjoy it first. Friends, the model price war has started—will you jump on board now, or keep waiting and watching?
Wac(h) wants to implement a “streamlined version” of the Federal Reserve—cut down on meeting frequency—and even recruited at least a third of the officials to publicly back it… Isn’t this basically pulling the Fed out of the spotlight, saying less and doing more? The problem is, the market has already gotten used to pricing based on Powell’s talk. If meetings suddenly happen less often, volatility may need to be reshuffled. Folks, is this move to reduce political crosshairs—or to make the market even more blindly guessing?
ChatGPT Images 2.5 is live. The time it takes to generate images is up to 50% faster—mark where you want changes, and you can edit without having to remake the whole picture every time… OpenAI is really going all in on making AI image generation into a handy, easy-to-use tool. But on the other side, in the AI safety research community, some people are using resignation to send a warning, saying, “By the end of next year, AI might get out of control.” One side is sprinting for better experiences, and the other is panic about safety. Friends, in this situation—do you want to enjoy the new features first, or think about who the model is really listening to first?
Grayscale is up to something again: the world’s first Zcash spot ETF fund, ZCSH, now offers option trading during its open period! Zcash, this privacy coin, finally has more financial tools. But once options are launched, volatility is probably going to be amplified. Friends, is this bullish—or a trap?
LIT breaks through $5.2, up more than 13% in 24 hours, setting a new all-time high again… This project is deeply involved in shaping favorable U.S. crypto policy while also deeply integrating with Robinhood—policy + traffic driving on both wheels. How could it not take off? Friends, at this level, do you chase the breakout or wait for a pullback?
How to Register for Binance, Deposit, and Buy Spot: Get 20% Fee Discount with BTC9149
📌 The two places where beginners get stuck the easiest Many users register successfully on Binance, but get stuck on the next two steps: “How do I add money?” and “How do I buy my first spot trade?” Compared with registration, depositing and trading involve handling funds, which makes people hesitate more easily. This article breaks down the entire path from depositing to buying spot, so if you follow it, you likely won’t get stuck. 🔑 Step 1: Register and bind the invitation code If you don’t have an account yet, first register using the Binance referral link https://www.bsmkweb.cc/join?ref=BTC9149. In the “Invitation Code / Referral Code” box, enter BTC9149 (Binance invitation code BTC9149, also known as Binance referral code BTC9149). After binding, you’ll get a 20% fee discount on spot and futures contracts, and you can also claim registration rewards. This code is also commonly referred to on the site as the Binance referral code or Binance commission-return code—it points to the same benefits. Open an account with the 2026 latest invitation code BTC9149, which means you lock in the fee-rate discount in one go.
Is the OPEC+ internal situation about to fall apart? Iraq speaks up right away, wanting to raise its quota to 6 million barrels per day. Venezuela is even considering pulling out altogether… On one side, it’s about ramping up production to grab market share; on the other, it’s about walking away and refusing to play along. How much longer can this alliance last? Saudi Arabia previously cut output to support oil prices, but now its teammates are all undermining it. Friends, will this round of oil prices keep pushing higher, or will they be dragged down by production-increase expectations?
Anthropic researcher resigns directly and even warns, “By the end of next year, AI may already be out of control”… This is more frightening than any earnings report. While the company is racing toward a $2 trillion valuation, insiders are voting with their feet. One side is capital celebration, the other is technological fear—so who exactly is blowing up the AI bubble?
The yen is rising—so Japanese retail investors are even more bearish! That’s where $23.5 billion in short positions are piled up. In the options market, traders are also betting that USD/JPY will fall below 150, even 140. Retail investors are dead set on fighting the yen’s upward trend head-on, but even Wall Street strategists can’t stop arguing. Friends, at this level, do you follow the retail investors to short—or bet that the yen continues to squeeze higher?
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