In a recent interview on February 2nd, He Yi, the Co-Founder of Binance, addressed ongoing inquiries about the platform’s venture arm, Binance Labs, and its association with various projects. He emphasized that successful entrepreneurs and innovative projects require time to flourish, a sentiment that resonates with current industry challenges. Yi acknowledged the difficulties faced by underperforming projects on Binance and noted the diminishing wealth effect experienced in the market. He stated, “This is a common issue within the entire sector.”
Moreover, Yi highlighted that while compliance remains a top priority for Binance, there are notable gaps in their wallet products. He also mentioned that the platform’s approach to listing tokens and providing benefits to BNB users reflects a strategic focus on this cryptocurrency. Despite recognizing Binance’s inherent challenges, including the complexities of regulatory pressures and organizational growth, Yi denounced any unfounded allegations aimed at discrediting the exchange. He maintained that every sector faces its own set of hurdles, urging for a factual discourse around the company’s operations.