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泵泵超人
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泵泵超人

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推特:@crypto_pumpman | 交易分享 📈 | 投研分析 🔍 | 项目介绍 📝 | 数据可视化 📊 |《加密小讲堂》主理人 | 关注我,给你的仓位加个泵泵BUFF 👆🏻
2025 Blockchain 100 — Independent Researcher
2025 Blockchain 100 — Independent Researcher
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Creator Awards 2024
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原创之星
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🔶 Yesterday, I came to the first Caishen Temple in Kyoto to pray for $BNB! May it break $2000 soon 🙏 Bringing the little yellow card of BNB Chain @BNBCHAINZH, I went to the first Caishen Temple in Kyoto to worship, drew a big luck, and when I stepped out, I saw $BNB hit a new high again, how wonderful! 😆 During this time, everyone should have been making money on BSC, following Prince @EnHeng456's group car $aster and gaining multiple times, and then Aster also drove a wave of explosion in the BSC ecosystem. Hmm, while focusing on building the BNB ecosystem, my own wealth has also reached a new height, which is a wonderful mutual achievement between the ecosystem and builders. You can feel that now the voices of fud about the BNB ecosystem are getting less and less, while the voices of build are getting more and more. From national institutions to enterprise projects, more and more people are choosing to embrace the Binance ecosystem. I will always hold onto $BNB at $300, I can't imagine how high this round will go! When coming, the heaven and earth exert the same force! Brother @CZ leads everyone to rush towards the stars and the sea! — HODL & BUILD #BNB创新高
🔶 Yesterday, I came to the first Caishen Temple in Kyoto to pray for $BNB! May it break $2000 soon 🙏

Bringing the little yellow card of BNB Chain @BNBCHAINZH, I went to the first Caishen Temple in Kyoto to worship, drew a big luck, and when I stepped out, I saw $BNB hit a new high again, how wonderful! 😆

During this time, everyone should have been making money on BSC, following Prince @EnHeng456's group car $aster and gaining multiple times, and then Aster also drove a wave of explosion in the BSC ecosystem.

Hmm, while focusing on building the BNB ecosystem, my own wealth has also reached a new height, which is a wonderful mutual achievement between the ecosystem and builders.

You can feel that now the voices of fud about the BNB ecosystem are getting less and less, while the voices of build are getting more and more. From national institutions to enterprise projects, more and more people are choosing to embrace the Binance ecosystem.

I will always hold onto $BNB at $300, I can't imagine how high this round will go!

When coming, the heaven and earth exert the same force! Brother @CZ leads everyone to rush towards the stars and the sea!

— HODL & BUILD

#BNB创新高
😋 Although I didn’t manage to eat up the main platter @thecryptoskanda_ in Taiwan’s Zhang situation, our HertzFlow survival competition came in first A few days ago I went long on $BTC , and my principal was once cut in half. Taking advantage of the trend of $BNB these past few days, I made a few trades and made it back BNB Chain has just launched a 4M airdrop incentive, and it feels like next week BNB and the Memes on BSC should both see a pretty good run There’s still one week left in the HertzFlow trading competition, and Pump Pump will try to stay Top 😆 #HertzflowPNL @HertzFlow_xyz {future}(BTCUSDT) {future}(BNBUSDT)
😋 Although I didn’t manage to eat up the main platter @thecryptoskanda_ in Taiwan’s Zhang situation, our HertzFlow survival competition came in first

A few days ago I went long on $BTC , and my principal was once cut in half. Taking advantage of the trend of $BNB these past few days, I made a few trades and made it back

BNB Chain has just launched a 4M airdrop incentive, and it feels like next week BNB and the Memes on BSC should both see a pretty good run

There’s still one week left in the HertzFlow trading competition, and Pump Pump will try to stay Top 😆

#HertzflowPNL @HertzFlow
🤔 The total prize pool is 4 million USD, airdropped to the top three holders of "US stock meme" tokens BNB Stonks Szn event, targeting Meme tokens in the bStocks pool launched after July 27 There are mainly three selection criteria: market cap, trading volume, and holder size The official team will review liquidity and filter out the wash trading portion 👉 The current top three MEME tokens that meet the standard are: 1️⃣ $MarsCoin : market cap 200M, trading volume 90M, addresses 43000 2️⃣ $牛来 : market cap 120M, trading volume 30M, addresses 54000 3️⃣ $STONKS: market cap 10M, trading volume 30M, addresses 8000 MarsCoin and Niulai are definitely locked in; the only thing left to compete for is third place The current third-place token, $STONKS, was inspired by yesterday's official post. The aesthetic of the word STONKS is pretty good too, and it quickly reached 10M Binance is always a late bloomer, and I hope this wave on BSC can also keep up with Robinhood's pace Solana is now just a roadside bystander; the two chains that will benefit are BNB Chain and Robinhood Feels like it's Binance's turn to step up 🧐 {future}(牛来USDT) {spot}(MARSCOINUSDT)
🤔 The total prize pool is 4 million USD, airdropped to the top three holders of "US stock meme" tokens

BNB Stonks Szn event, targeting Meme tokens in the bStocks pool launched after July 27

There are mainly three selection criteria: market cap, trading volume, and holder size

The official team will review liquidity and filter out the wash trading portion

👉 The current top three MEME tokens that meet the standard are:

1️⃣ $MarsCoin : market cap 200M, trading volume 90M, addresses 43000
2️⃣ $牛来 : market cap 120M, trading volume 30M, addresses 54000
3️⃣ $STONKS: market cap 10M, trading volume 30M, addresses 8000

MarsCoin and Niulai are definitely locked in; the only thing left to compete for is third place

The current third-place token, $STONKS, was inspired by yesterday's official post. The aesthetic of the word STONKS is pretty good too, and it quickly reached 10M

Binance is always a late bloomer, and I hope this wave on BSC can also keep up with Robinhood's pace

Solana is now just a roadside bystander; the two chains that will benefit are BNB Chain and Robinhood

Feels like it's Binance's turn to step up 🧐
$Stonks The Power of the Big Farmer😆
$Stonks The Power of the Big Farmer😆
🤔 Software like FOMO—full-chain in one go, it’s definitely simple and addictive, but the fees are really high. Now Binance Wallet offers a limited-time 20% discount on fees for the hottest Robinhood Chain! Mom doesn’t have to worry about me losing money on Gas anymore. For more advanced on-chain trading, you still need to use a professional dog-catching tool like “Binance Wallet.” Take the trade info from your FOMO chain’s head-buy orders as a reference source—then place your order with “Binance Wallet.” That way you can keep up with the pace and still enjoy big fee discounts. 👉 Use Pump Pump’s invitation link, and you can also permanently get an extra 30% fee rebate: [https://web3.binance.com/referral?ref=1PUMP](https://web3.binance.com/referral?ref=1PUMP) On-chain MEME trading is even more high-frequency—like Pump Pump, daily fees could easily add up to over a hundred “u.” Over the long run, fees are not necessarily less than contract trading fees. Saving yourself a thousand or so “u” in the process—keeping it to go back and dog-pile on new gems—doesn’t that feel better?!?
🤔 Software like FOMO—full-chain in one go, it’s definitely simple and addictive, but the fees are really high.

Now Binance Wallet offers a limited-time 20% discount on fees for the hottest Robinhood Chain!

Mom doesn’t have to worry about me losing money on Gas anymore.

For more advanced on-chain trading, you still need to use a professional dog-catching tool like “Binance Wallet.”

Take the trade info from your FOMO chain’s head-buy orders as a reference source—then place your order with “Binance Wallet.”

That way you can keep up with the pace and still enjoy big fee discounts.

👉 Use Pump Pump’s invitation link, and you can also permanently get an extra 30% fee rebate:

https://web3.binance.com/referral?ref=1PUMP

On-chain MEME trading is even more high-frequency—like Pump Pump, daily fees could easily add up to over a hundred “u.”

Over the long run, fees are not necessarily less than contract trading fees. Saving yourself a thousand or so “u” in the process—keeping it to go back and dog-pile on new gems—doesn’t that feel better?!?
My First Chain: BNB ChainIn the blink of an eye, BNB Chain is celebrating its sixth anniversary. I’ve always had a slightly different feeling about this chain. Because my first big on-chain win—my first real breakthrough—was here. In 2022, I just started playing Crypto. At that time, it wasn’t called the BNB Chain yet. It’s called BNB Smart Chain. Everyone was more used to calling it BSC. I didn’t even have this much money back then. Back then, I used TP. Back then, I didn’t even know what people meant by “infrastructure.” I only knew one thing: If you want to fight, you go to the BNB Chain. To go to the BNB Chain, you first had to go to Binance to buy BNB. September 2022, Shanghai. It was already deep autumn, but the weather still held on to a bit of summer’s lingering heat.

My First Chain: BNB Chain

In the blink of an eye, BNB Chain is celebrating its sixth anniversary.
I’ve always had a slightly different feeling about this chain.
Because my first big on-chain win—my first real breakthrough—was here.
In 2022, I just started playing Crypto.
At that time, it wasn’t called the BNB Chain yet.
It’s called BNB Smart Chain.
Everyone was more used to calling it BSC.
I didn’t even have this much money back then.
Back then, I used TP.
Back then, I didn’t even know what people meant by “infrastructure.”
I only knew one thing:
If you want to fight, you go to the BNB Chain.
To go to the BNB Chain, you first had to go to Binance to buy BNB.
September 2022, Shanghai.
It was already deep autumn, but the weather still held on to a bit of summer’s lingering heat.
Verified
🧐 Ethena @Ethena_Labs ’s long-standing issue of sell pressure may be getting resolved 1️⃣ Buyout early investors’ holdings (for those who sold during the past 9 months) The Foundation’s buyout is not for the entire seed round. Instead, it will purchase all locked tokens held by the key seed investors who have any record of ENA being sold within the past 9 months. If you still hold locked tokens and recently shipped, you’ll buy up all currently available/unlockable amounts. Diamond hands who haven’t sold are unaffected. 2️⃣ Monthly VC unlocks disappear from now on The Foundation has reached an agreement with the lead investor that the remaining unvested investor tokens will be released all at once (effective starting October 5). The monthly unlock calendar no longer exists. Team tokens are not included in this and will continue to be locked according to the original vesting schedule. The upside: $ENA no longer faces monthly cyclical unlock pressure. The trade-off: there will be a one-time increase in circulating supply at the beginning of October. 3️⃣ Token = equity All value of the protocol is exclusively allocated to the Foundation and token holders’ governance. Labs’ equity investors have no claim on the protocol’s cash flows. Many protocols separate governance from cash—governance belongs to one group, while money belongs to shareholders. But Ethena is different. In a bear market, the real tides sift out the weak. The surviving projects are starting to build around real business and actual cash flow. Ethena, with stablecoins on one side and a US-compliant business on the other, is also very capable. 4️⃣ Token buybacks Under the Ethena brand, 95% of the net income from all business lines will be used to buy back ENA, keeping only 5% for growth. If the bull market can sustain, ENA will be at least one of the assets I’m willing to hold and allocate to long-term. {spot}(ENAUSDT)
🧐 Ethena @Ethena Labs ’s long-standing issue of sell pressure may be getting resolved

1️⃣ Buyout early investors’ holdings (for those who sold during the past 9 months)

The Foundation’s buyout is not for the entire seed round. Instead, it will purchase all locked tokens held by the key seed investors who have any record of ENA being sold within the past 9 months.

If you still hold locked tokens and recently shipped, you’ll buy up all currently available/unlockable amounts. Diamond hands who haven’t sold are unaffected.

2️⃣ Monthly VC unlocks disappear from now on

The Foundation has reached an agreement with the lead investor that the remaining unvested investor tokens will be released all at once (effective starting October 5). The monthly unlock calendar no longer exists.

Team tokens are not included in this and will continue to be locked according to the original vesting schedule.

The upside: $ENA no longer faces monthly cyclical unlock pressure. The trade-off: there will be a one-time increase in circulating supply at the beginning of October.

3️⃣ Token = equity

All value of the protocol is exclusively allocated to the Foundation and token holders’ governance. Labs’ equity investors have no claim on the protocol’s cash flows.

Many protocols separate governance from cash—governance belongs to one group, while money belongs to shareholders. But Ethena is different.

In a bear market, the real tides sift out the weak. The surviving projects are starting to build around real business and actual cash flow. Ethena, with stablecoins on one side and a US-compliant business on the other, is also very capable.

4️⃣ Token buybacks

Under the Ethena brand, 95% of the net income from all business lines will be used to buy back ENA, keeping only 5% for growth.

If the bull market can sustain, ENA will be at least one of the assets I’m willing to hold and allocate to long-term.
🐂 Outsiders may not feel much about $币安人生 , but $牛来 is pure enough—can they really understand it, and are they willing to spread it? Niu-lai might be the first BSC project to break away from the Binance narrative, and in the English-speaking world it has widely spread a Chinese ticker. Binance Life is already a chapter in the past. If Niu-lai can serve as a bridge from the past to the future, it may still have 10x potential. This morning I was scrolling TikTok and found that Zhang Yixing is also making abstract videos about Niu-lai. It’s foreseeable that for a long time ahead, Niu-lai will get all kinds of spontaneous exposure. I feel that over the past month, there will be lots of opportunities on-chain. Keep an eye on opportunities on BSC and Robinhood—install the Fomo and Pumpfun apps too, and start just sitting there waiting!
🐂 Outsiders may not feel much about $币安人生 , but $牛来 is pure enough—can they really understand it, and are they willing to spread it?

Niu-lai might be the first BSC project to break away from the Binance narrative, and in the English-speaking world it has widely spread a Chinese ticker.

Binance Life is already a chapter in the past. If Niu-lai can serve as a bridge from the past to the future, it may still have 10x potential.

This morning I was scrolling TikTok and found that Zhang Yixing is also making abstract videos about Niu-lai.

It’s foreseeable that for a long time ahead, Niu-lai will get all kinds of spontaneous exposure.

I feel that over the past month, there will be lots of opportunities on-chain.

Keep an eye on opportunities on BSC and Robinhood—install the Fomo and Pumpfun apps too, and start just sitting there waiting!
😆 Seeing that Predict fun @Predict has also joined the gossip event of “Sun Yuchen vs. Jing Tian” Coincidentally, today my cousin @CZ also posted a message hinting that both sides have come to an agreement—the most dignified solution. (In fact, most such civil cases are settled privately.) As of now, the proportion of “no civil judgment” on Predict fun is 57%, which also matches the current mainstream view. 👉 Also, after looking at the ruling rules, there’s one thing worth mentioning: For “Sun wins,” the threshold does not require Jing Tian to compensate 30 million. Even compensation of 1 yuan counts as Sun’s win. Sun has already successfully applied for property preservation, freezing Jing Tian’s 30 million. So in reality, getting to a settlement isn’t that hard 🤔 Sun also posted a second short essay this afternoon. The implication is that he doesn’t really care about winning or losing—he just wants his money back and that’s it. Pumping Pump is still betting on “no civil judgment.” Like what your cousin said, we hope it can be resolved properly, with mutual respect 🙏
😆 Seeing that Predict fun @Predictdotfun has also joined the gossip event of “Sun Yuchen vs. Jing Tian”

Coincidentally, today my cousin @CZ also posted a message hinting that both sides have come to an agreement—the most dignified solution. (In fact, most such civil cases are settled privately.)

As of now, the proportion of “no civil judgment” on Predict fun is 57%, which also matches the current mainstream view.

👉 Also, after looking at the ruling rules, there’s one thing worth mentioning:

For “Sun wins,” the threshold does not require Jing Tian to compensate 30 million. Even compensation of 1 yuan counts as Sun’s win.

Sun has already successfully applied for property preservation, freezing Jing Tian’s 30 million. So in reality, getting to a settlement isn’t that hard 🤔

Sun also posted a second short essay this afternoon. The implication is that he doesn’t really care about winning or losing—he just wants his money back and that’s it.

Pumping Pump is still betting on “no civil judgment.” Like what your cousin said, we hope it can be resolved properly, with mutual respect 🙏
After finishing Sun Ge’s little essay, I learned 7 small things: 1. Zhang Jike accomplished great things without spending a dime—having a strong body matters more 2. Use Claude for your personal finance AI advisor 3. When talking with Sun Ge the same way: Jing Tian earned 3,000 things, while Zeng Ying still has to wash her underwear—strengthening yourself is the key 4. Keep your nails clean—girls really care about your nails 5. It’s hard for ordinary people to practice Sun Ge’s teachings; start by improving your writing 6. This world is both cruel and gentle. Jing Tian does the right thing, and by stepping in personally—she invites Sun Ge to come to the capital three times 7. AI still doesn’t know what love is; when they break up, Claude takes full responsibility (turn)
After finishing Sun Ge’s little essay, I learned 7 small things:

1. Zhang Jike accomplished great things without spending a dime—having a strong body matters more
2. Use Claude for your personal finance AI advisor
3. When talking with Sun Ge the same way: Jing Tian earned 3,000 things, while Zeng Ying still has to wash her underwear—strengthening yourself is the key
4. Keep your nails clean—girls really care about your nails
5. It’s hard for ordinary people to practice Sun Ge’s teachings; start by improving your writing
6. This world is both cruel and gentle. Jing Tian does the right thing, and by stepping in personally—she invites Sun Ge to come to the capital three times
7. AI still doesn’t know what love is; when they break up, Claude takes full responsibility (turn)
Come to join the 《Binance Life》 book club gathering Cousin @CZ was still in Bhutan yesterday, guiding the Yzilabs Demo Day. Today he’s flying to Hong Kong again to share the book club gathering with everyone—his energy feels even better than many attending college boys I also ran into CZ’s number one Middle East fan, @ABR099 . He specifically flew in from Dubai to show support for my cousin—every place where there’s CZ, he’s always there I’ll organize and share some of the精彩 viewpoints from the book club gathering for everyone a bit later!
Come to join the 《Binance Life》 book club gathering

Cousin @CZ was still in Bhutan yesterday, guiding the Yzilabs Demo Day. Today he’s flying to Hong Kong again to share the book club gathering with everyone—his energy feels even better than many attending college boys

I also ran into CZ’s number one Middle East fan, @Abrlien . He specifically flew in from Dubai to show support for my cousin—every place where there’s CZ, he’s always there

I’ll organize and share some of the精彩 viewpoints from the book club gathering for everyone a bit later!
Verified
🤔 Compliance and privacy can’t coexist? Dusk @Dusk_Foundation says you can have both—and it wants to bring compliant financial markets on-chain. Binance’s slogan is “Exchange the world,” and the hottest narrative in the RWA track is tokenizing assets. But for licensed institutions, three more fundamental problems block them: 1️⃣ Can my positions and trading counterparties be kept from being seen by the entire network? 2️⃣ When regulators show up to inspect, can we show them only what they need to see? 3️⃣ Is settlement deterministic—could it ever be rolled back? Full transparency isn’t an issue for DeFi, but for TradFi assets it’s not feasible. This L1 from Dusk is designed to solve these three problems. 👉 What is $DUSK ? For regulated financial markets, the core value proposition of this L1 is “programmable privacy”: positions, amounts, and trading intents are encrypted; compliance rules and settlement status remain transparent; authorized parties can selectively disclose, and the disclosed data is cryptographically guaranteed to be truthful. The key term is “selective disclosure,” not “anonymity.” This is institutional-grade information access control—not a privacy coin. ⚙️ Mechanism layer: DuskEVM + Hedger Dusk is evolving into a dual-layer architecture: DuskDS handles base settlement and data availability, providing deterministic finality; DuskEVM is an EVM-compatible application layer. The mainnet is about to go live, and developers can connect directly using existing Solidity toolchains—zero migration cost. The really interesting part is the privacy module, Hedger. Most on-chain privacy solutions rely solely on ZK. Hedger takes a “homomorphic encryption + zero-knowledge proofs” combined approach: positions and amount data are end-to-end encrypted, but the party authorizing the transaction can still audit. It also supports an obfuscated order book, so when institutions place orders, their intent and exposure aren’t revealed. 🏦 Application layer: Dusk Trade, the on-chain “licensed broker” DuskEVM is the foundation, and Dusk Trade is the front end for investors: bringing funds, ETFs, bonds, and other RWAs on-chain. Three highlights: true ownership, instant settlement, and DeFi-level composability. In terms of legal structure, it operates under EU regulations in the form of a regulated MTF and an investment platform—following traditional financial licensing paths. Dusk CEO’s analogy: while other RWA protocols are fighting for a spot on a bookshelf, #dusk wants to build the whole building where the bookshelf goes. The strategy isn’t to ask institutions to issue assets on-chain, but to become the underlying technology for institutions’ own exchange. {spot}(DUSKUSDT)
🤔 Compliance and privacy can’t coexist? Dusk @Dusk says you can have both—and it wants to bring compliant financial markets on-chain.

Binance’s slogan is “Exchange the world,” and the hottest narrative in the RWA track is tokenizing assets.

But for licensed institutions, three more fundamental problems block them:

1️⃣ Can my positions and trading counterparties be kept from being seen by the entire network?
2️⃣ When regulators show up to inspect, can we show them only what they need to see?
3️⃣ Is settlement deterministic—could it ever be rolled back?

Full transparency isn’t an issue for DeFi, but for TradFi assets it’s not feasible. This L1 from Dusk is designed to solve these three problems.

👉 What is $DUSK ?

For regulated financial markets, the core value proposition of this L1 is “programmable privacy”: positions, amounts, and trading intents are encrypted; compliance rules and settlement status remain transparent; authorized parties can selectively disclose, and the disclosed data is cryptographically guaranteed to be truthful.

The key term is “selective disclosure,” not “anonymity.” This is institutional-grade information access control—not a privacy coin.

⚙️ Mechanism layer: DuskEVM + Hedger

Dusk is evolving into a dual-layer architecture: DuskDS handles base settlement and data availability, providing deterministic finality;
DuskEVM is an EVM-compatible application layer. The mainnet is about to go live, and developers can connect directly using existing Solidity toolchains—zero migration cost.

The really interesting part is the privacy module, Hedger.

Most on-chain privacy solutions rely solely on ZK. Hedger takes a “homomorphic encryption + zero-knowledge proofs” combined approach: positions and amount data are end-to-end encrypted, but the party authorizing the transaction can still audit. It also supports an obfuscated order book, so when institutions place orders, their intent and exposure aren’t revealed.

🏦 Application layer: Dusk Trade, the on-chain “licensed broker”

DuskEVM is the foundation, and Dusk Trade is the front end for investors: bringing funds, ETFs, bonds, and other RWAs on-chain. Three highlights: true ownership, instant settlement, and DeFi-level composability.

In terms of legal structure, it operates under EU regulations in the form of a regulated MTF and an investment platform—following traditional financial licensing paths.

Dusk CEO’s analogy: while other RWA protocols are fighting for a spot on a bookshelf, #dusk wants to build the whole building where the bookshelf goes.

The strategy isn’t to ask institutions to issue assets on-chain, but to become the underlying technology for institutions’ own exchange.
Verified
Article
Can compliance and privacy coexist? Dusk says it can—and wants to bring the compliant financial market on-chainBinance’s slogan is: Exchange the world. The hottest narrative in the RWA track is also: tokenizing assets. But for licensed institutions, the things that lock up their tokenized assets are three deeper underlying problems: 1️⃣ Can my positions and trading counterparties not be visible to the whole network? 2️⃣ When regulators come to investigate, can I show them only what they need to see? 3️⃣ Is settlement deterministic—will it be reverted? For DeFi, full transparency isn’t a problem, but for TradFi assets it’s indeed not feasible. The Dusk chain exists to solve these issues,

Can compliance and privacy coexist? Dusk says it can—and wants to bring the compliant financial market on-chain

Binance’s slogan is: Exchange the world. The hottest narrative in the RWA track is also: tokenizing assets.
But for licensed institutions, the things that lock up their tokenized assets are three deeper underlying problems:
1️⃣ Can my positions and trading counterparties not be visible to the whole network?
2️⃣ When regulators come to investigate, can I show them only what they need to see?
3️⃣ Is settlement deterministic—will it be reverted?
For DeFi, full transparency isn’t a problem, but for TradFi assets it’s indeed not feasible. The Dusk chain exists to solve these issues,
😂 Four months ago, PumpPump interviewed CZ at the Binance Plaza @CZ once. This time it looks like we can interview Big Brother in person again. Back then, no one expected that there would be no VC backing Binance. At the time, they thought the industry was already saturated. No one could have imagined that in less than ten years, Binance would have reached the top of the industry, and truly started putting the “Exchange the world” slogan into practice. (That’s the line CZ often wears on himself.) Now, “Binance Pay” has achieved over 90% merchant coverage in countries such as Vietnam and Bhutan, and bStocks accounts for 95% of weekend on-chain U.S. stock trading volume. Mass Adoption is no longer just an ideal—Binance is pushing this goal step by step. In four months, PumpPump has gathered another bunch of questions. Big Brother, I’m here! ~😆
😂 Four months ago, PumpPump interviewed CZ at the Binance Plaza @CZ once. This time it looks like we can interview Big Brother in person again.

Back then, no one expected that there would be no VC backing Binance. At the time, they thought the industry was already saturated.

No one could have imagined that in less than ten years, Binance would have reached the top of the industry, and truly started putting the “Exchange the world” slogan into practice.

(That’s the line CZ often wears on himself.)

Now, “Binance Pay” has achieved over 90% merchant coverage in countries such as Vietnam and Bhutan, and bStocks accounts for 95% of weekend on-chain U.S. stock trading volume.

Mass Adoption is no longer just an ideal—Binance is pushing this goal step by step.

In four months, PumpPump has gathered another bunch of questions. Big Brother, I’m here! ~😆
泵泵超人
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Record this Q&A from the #Binance Square AMA, I think it is quite valuable 😆

👉 Q: My question:

Brother, your book says that when you founded Binance in 2017, all the venture capitalists rejected investing, and now they must surely regret missing out on Binance.

I want to ask, since you are now also investing (Yzi labs), how do you avoid becoming one of those who rejected you back then and missing the next Binance?

Or, what do you find most compelling when looking at projects now? Under what circumstances would you even be willing to act as a project advisor?

👉 A: CZ @CZ 's answer:

To be honest, I think this kind of "missing out" will definitely happen.

Especially for early-stage projects, when the product is not yet launched, it is actually very difficult to judge whether the project can succeed.

Frankly, if I were a VC back then, I might not have invested in Binance either 🤣

You cannot invest in 100% good projects. Unless you invest in all projects, but then 99.99% will fail, and in the long run, it will definitely result in losses.

For me, I value "mission-driven" founders more.

Some founders like to talk about market size and how much money can be made, but what really resonates with me are those who have a sense of mission.

That's why I prefer to invest during bear markets because if the market is declining and someone is still committed to developing the product, they are likely a long-term thinker who can weather the cycles.

Additionally, I do not really like to invest when valuations are too high. For example, a project with no product and no users, yet needs a $100 million valuation.

I value practical, down-to-earth, and execution-oriented teams.

For instance, now there are AI tools that can quickly create prototypes, so I prefer teams that execute quickly and do not get stuck at any particular stage.
Article
Top 10 most profitable protocols in crypto, with 70% of revenue coming from the U.S. Treasury yield spreadI reviewed the 10 most profitable protocols in the crypto space. Of them, 5 clearly do not issue tokens. In terms of truly turning revenue into “token value capture,” there are only 4. 1️⃣ First tier: stablecoin business—earning the most money ➤ Tether: $100 million in weekly revenue, no dividends When you exchange your USD for USDT, it uses your dollars to buy U.S. Treasury bills and other fixed-income assets, and all the interest belongs to itself. In essence, it’s a shadow bank that attracts deposits with zero interest. USDT holders receive no interest at all; all returns belong to the Tether company. About a 5% yield from U.S. Treasuries multiplied by an issuance size of over $160 billion—that’s the source of this $100 million-a-week revenue.

Top 10 most profitable protocols in crypto, with 70% of revenue coming from the U.S. Treasury yield spread

I reviewed the 10 most profitable protocols in the crypto space. Of them, 5 clearly do not issue tokens. In terms of truly turning revenue into “token value capture,” there are only 4.
1️⃣ First tier: stablecoin business—earning the most money
➤ Tether: $100 million in weekly revenue, no dividends
When you exchange your USD for USDT, it uses your dollars to buy U.S. Treasury bills and other fixed-income assets, and all the interest belongs to itself.
In essence, it’s a shadow bank that attracts deposits with zero interest. USDT holders receive no interest at all; all returns belong to the Tether company.
About a 5% yield from U.S. Treasuries multiplied by an issuance size of over $160 billion—that’s the source of this $100 million-a-week revenue.
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Bullish
The bull’s here—are Hayes’ calls still effective? I didn’t expect that after chasing a trade this morning ($ENA ), I could still get a bite 😆 Going against the trend was the wrong move; I followed the rhythm of the big money players.
The bull’s here—are Hayes’ calls still effective? I didn’t expect that after chasing a trade this morning ($ENA ), I could still get a bite 😆

Going against the trend was the wrong move; I followed the rhythm of the big money players.
Partly True
😂 In the morning, “Lao Hei” Hayes shouted a buy signal, $ENA , and the bulldozer kept pulling for 30 percentage points. This kind of pump-and-dump style really feels like it’s intentionally telling others that ENA is already tightly controlled—inviting the capital that understands it to come together and coordinate the same way. Ethena @Ethena_Labs , meanwhile, has been a success in its transition. It has already broken into the U.S. compliant circle, and Kraken and Coinbase’s investment products have both been integrated with USDe. Not long ago, it also reached a collaboration with Maple, one of the largest DeFi protocols, on the buffer pool. But $ENA has indeed been falling for a long time. And “Lao Hei”’s call has made him a bit panicky—what should we do, huh?🤔 {future}(ENAUSDT)
😂 In the morning, “Lao Hei” Hayes shouted a buy signal, $ENA , and the bulldozer kept pulling for 30 percentage points.

This kind of pump-and-dump style really feels like it’s intentionally telling others that ENA is already tightly controlled—inviting the capital that understands it to come together and coordinate the same way.

Ethena @Ethena Labs , meanwhile, has been a success in its transition. It has already broken into the U.S. compliant circle, and Kraken and Coinbase’s investment products have both been integrated with USDe.

Not long ago, it also reached a collaboration with Maple, one of the largest DeFi protocols, on the buffer pool.

But $ENA has indeed been falling for a long time. And “Lao Hei”’s call has made him a bit panicky—what should we do, huh?🤔
Verified
👀 There aren’t many projects that have continued delivering through both bull and bear markets. Last year’s 100x god-tier coin DeAgentAI is one of them. Many projects have no revenue, haven’t shipped iterations for half a year, and almost become ghosts. DeAgentAI, on the other hand, has kept producing new features—it’s hard to imagine it’s a project that has already had its TGE for a year. 1️⃣ Intelligence layer → Protocol layer: A self-developed framework achieves an enterprise-level solution. External projects can directly call the model capabilities to generate external revenue. 2️⃣ Application layer → Economic layer: The AI Agents managed platform is officially open. The first Agent, “Sentry,” is already live. Real usage brings real income. By relying on AI infrastructure and services, it achieves self-sustained profitability rather than being funded by capital injections. Income is used to buy back $AIA , paired with periodic deflation. That’s the DeAgentAI flywheel. 👉 What is the newly launched Sentry? Every day, it scans all 308 Hyperliquid full-market perpetual contracts, filters them once according to your rules, and only provides you with the matched results + the full formula—leaving the decision-making power to the user. Four adjustable strategies. You don’t need tokens to get calculations—you only pay when you initiate a follow-up question. You can also do a lot without spending money. From your wallet → deposit $AIA or USDT → set up strategies, and the relevant signals can be pushed to your Telegram. If you’re looking at something with real business, real cash flow, and continuous building, you may want to check out AIA. At least try their product for free and experience it 🤔 {future}(AIAUSDT)
👀 There aren’t many projects that have continued delivering through both bull and bear markets. Last year’s 100x god-tier coin DeAgentAI is one of them.

Many projects have no revenue, haven’t shipped iterations for half a year, and almost become ghosts. DeAgentAI, on the other hand, has kept producing new features—it’s hard to imagine it’s a project that has already had its TGE for a year.

1️⃣ Intelligence layer → Protocol layer: A self-developed framework achieves an enterprise-level solution. External projects can directly call the model capabilities to generate external revenue.

2️⃣ Application layer → Economic layer: The AI Agents managed platform is officially open. The first Agent, “Sentry,” is already live. Real usage brings real income.

By relying on AI infrastructure and services, it achieves self-sustained profitability rather than being funded by capital injections. Income is used to buy back $AIA , paired with periodic deflation. That’s the DeAgentAI flywheel.

👉 What is the newly launched Sentry?

Every day, it scans all 308 Hyperliquid full-market perpetual contracts, filters them once according to your rules, and only provides you with the matched results + the full formula—leaving the decision-making power to the user.

Four adjustable strategies. You don’t need tokens to get calculations—you only pay when you initiate a follow-up question. You can also do a lot without spending money.

From your wallet → deposit $AIA or USDT → set up strategies, and the relevant signals can be pushed to your Telegram.

If you’re looking at something with real business, real cash flow, and continuous building, you may want to check out AIA. At least try their product for free and experience it 🤔
Verified
🧐 MemeCore and Nasdaq-listed company ZeroStack have agreed to a $1 billion deal, making it the treasury company of $M MicroStrategy hoards $BTC . Now on Nasdaq, the listed company ZeroStack has started hoarding M ZeroStack has put about 926 million $M into its balance sheet, totaling $1 billion MemeCore’s负责人 Rudy Rong received shares and directly became Chairman of ZeroStack’s board of directors As a Meme L1 native asset that is included in the balance sheet of a Nasdaq-listed company, MemeCore is still the first 👉 Worth noting: ZeroStack’s own business is decentralized AI With this combination, it likely signals that MemeCore may take action in the DeAI direction in the future 👀 {future}(MUSDT) {stock_us}(ZSTK.US)
🧐 MemeCore and Nasdaq-listed company ZeroStack have agreed to a $1 billion deal, making it the treasury company of $M

MicroStrategy hoards $BTC . Now on Nasdaq, the listed company ZeroStack has started hoarding M
ZeroStack has put about 926 million $M into its balance sheet, totaling $1 billion

MemeCore’s负责人 Rudy Rong received shares and directly became Chairman of ZeroStack’s board of directors

As a Meme L1 native asset that is included in the balance sheet of a Nasdaq-listed company, MemeCore is still the first

👉 Worth noting: ZeroStack’s own business is decentralized AI

With this combination, it likely signals that MemeCore may take action in the DeAI direction in the future 👀
M+0.17%
ZSTKUS-11.68%
Today DJI released a video in one continuous shot, recording the complete process of the “Zhuque-3” from launch to recovery. It just right-handedly refutes the online claim that Zhuque’s recovery was an AI-generated composite video. Worth noting: these DJI action cameras also weren’t specially modified at all—only simple external protection was added. Now reusable rockets aren’t exclusive technology for SpaceX anymore ( $SPCXB ). Fast-forward to when Chinese people can fly!
Today DJI released a video in one continuous shot, recording the complete process of the “Zhuque-3” from launch to recovery.

It just right-handedly refutes the online claim that Zhuque’s recovery was an AI-generated composite video.

Worth noting: these DJI action cameras also weren’t specially modified at all—only simple external protection was added.

Now reusable rockets aren’t exclusive technology for SpaceX anymore ( $SPCXB ). Fast-forward to when Chinese people can fly!
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