He Yi responds to claims about the “best-friend coin” and listing allegations, saying personal relationships cannot determine token listings
Binance co-founder He Yi responded to rumors in a post, saying that she does know Wan Hui, co-founder of crypto venture capital firm Primitive Ventures, but that there was no such thing as being best friends and accompanying her through childbirth. She said that even her own mother could not get a project listed on Binance solely through a personal relationship; if a project could get listed that way, it would show that Binance’s own vetting capabilities were inadequate. He Yi also said that in recent years, good projects in the crypto industry have been few and far between. BNB is one of them, and has lived up to the trust of those who believe in Binance—but investing and trading never guarantee profits. In 2017, it seemed that everything you bought went up; that was a windfall of the times, and few of those gains remain today. The 2019 IEO boom was an exception: DEXs had not yet taken off, so Binance had bargaining power. Once DEXs developed, Western VCs drove up the prices of VC-backed tokens. She also said that over the past few years, Binance had never proactively resorted to unscrupulous tactics to gain market share, and that it had always been straightforward in its defensive approach to competition. She welcomed direct criticism from anyone who felt the company had done a poor job. Regarding IEOs, she said that market liquidity was concentrated on Binance at the time, giving the platform considerable market dominance. As a result, new projects generally launched at lower prices, giving participants a chance to make a profit.
Binance co-founder He Yi responded to rumors in a post, saying that she does know Wan Hui, co-founder of crypto venture capital firm Primitive Ventures, but that there was no such thing as being best friends and accompanying her through childbirth. She said that even her own mother could not get a project listed on Binance solely through a personal relationship; if a project could get listed that way, it would show that Binance’s own vetting capabilities were inadequate. He Yi also said that in recent years, good projects in the crypto industry have been few and far between. BNB is one of them, and has lived up to the trust of those who believe in Binance—but investing and trading never guarantee profits. In 2017, it seemed that everything you bought went up; that was a windfall of the times, and few of those gains remain today. The 2019 IEO boom was an exception: DEXs had not yet taken off, so Binance had bargaining power. Once DEXs developed, Western VCs drove up the prices of VC-backed tokens. She also said that over the past few years, Binance had never proactively resorted to unscrupulous tactics to gain market share, and that it had always been straightforward in its defensive approach to competition. She welcomed direct criticism from anyone who felt the company had done a poor job. Regarding IEOs, she said that market liquidity was concentrated on Binance at the time, giving the platform considerable market dominance. As a result, new projects generally launched at lower prices, giving participants a chance to make a profit.