In this episode of Friends of OKX Wallet, Ethereum co-founder Vitalik Buterin discusses the long-term convergence of AI and crypto. He talks about the role Ethereum could play in the agent era: rather than serving as a traditional “operating system,” blockchain is better understood as a public data layer, an on-chain computation layer, and an economic layer for multi-party coordination. As AI agents begin to interact on-chain at scale, Ethereum will need to offer more than lower costs and higher throughput. It will also need stronger privacy, verifiable security, minimal identity disclosure, and an L2 ecosystem tailored to different application needs. Vitalik argues that humans will remain the users, while AI becomes a new interface and execution layer. Wallets may evolve from standalone products into secure software capability layers that AI can call and orchestrate. For identity, users should avoid revealing who they are in full, and instead prove only what is necessary, such as reputation or source of funds, through zero-knowledge proofs. On scaling, Vitalik says L2s should not simply copy the EVM. Instead, they should start from application needs and provide specific functions such as order matching, low-cost execution, or privacy. For Agent product experience, he emphasizes local AI, privacy, security, formal verification, and alignment with user interests. He also points to ZK Payments and ZK API as promising foundations for Agent-native payments and interaction standards. Timeline: 00:00 Opening: The long-term convergence of AI and crypto 00:51 Vitalik on Ethereum's two core functions in the Agent era 03:30 Why blockchain's economic layer is key to decentralized AI coordination 05:07 AI as the new interface, with humans still at the center 07:09 Wallets evolving into secure API / SDK capability layers 10:03 Why humans and agents can share the same underlying framework 12:04 Low-cost settlement for AI high-frequency transactions, and why L2s need a rethink 16:31 Using AI for Ethereum security verification and Agent wallet development 18:52 Why ZK Payments could be the next protocol-level Agent standard 20:25 Preventing abuse with security deposits without compromising privacy

Arthur Hayes updated his outlook on market liquidity and Bitcoin’s trajectory in his keynote, “21 Weeks Later,” delivered at the Bitcoin 2026 Vegas conference. Hayes argued that the market had previously been driven by an “AI deflation” thesis: AI boosts efficiency and puts pressure on high-paid white-collar jobs, which could weaken bank credit quality and weigh on Bitcoin and other risk assets. But as geopolitical tensions rise and the US shifts more clearly toward a wartime fiscal stance, he believes the market is starting to price in fiscal expansion, higher bank leverage, and a fresh wave of credit creation. He also argued that concerns over Kevin Warsh potentially becoming Fed chair and pursuing an aggressively hawkish balance-sheet reduction are overblown. In Hayes’s view, what is more likely is a structural reshuffling between the Fed’s balance sheet and those of commercial banks. With regulatory easing, commercial banks could take on more Treasuries and repo assets while expanding lending to defense, resource extraction, and AI infrastructure. Hayes believes this new credit creation could outweigh the drag AI has placed on jobs and legacy credit demand, allowing liquidity conditions to turn positive again. On that basis, he remains bullish on Bitcoin and expects further upside this year. Timeline: 00:00 Opening remarks 00:35 Why markets may treat the conflict as temporary 01:45 How AI deflation and job losses weighed on risk assets 03:24 The shift toward a wartime inflation and fiscal expansion narrative 05:51 Why Hayes questions the “super hawkish” Warsh view 06:49 A possible balance-sheet shift from the Fed to commercial banks 08:26 How banks could absorb more Treasuries and expand lending 10:00 Why Washington still shows no real appetite for austerity 11:23 Why US banks may become major buyers of new Treasury supply 12:09 Why banks could gain more room to lend

This episode is based on Ethereum co-founder Vitalik Buterin's keynote at Hong Kong Web3 Festival, centered on one question: what kind of chain Ethereum is ultimately trying to become. Vitalik framed Ethereum as infrastructure that serves both as a "public bulletin board" and a "shared computation layer," stressing that its core value is not about chasing maximum speed, but about long-term security, decentralization, verifiability, and fair participation. In the talk, he laid out Ethereum's roadmap for the coming years. In the near term, the focus remains on scaling both data availability and execution, raising the gas limit, advancing zkEVM adoption, improving block building, and using account abstraction to strengthen smart contract wallets, privacy, and support for post-quantum signatures. Over the medium to long term, the priorities shift toward tackling state growth, expanding formal verification, achieving full post-quantum readiness, simplifying the protocol, and making it possible for ordinary devices — including phones and IoT devices — to verify chain state. Vitalik also emphasized that Ethereum should not become a platform optimized for high-frequency trading. Instead, it should serve as a secure and durable base layer that developers and users can rely on for the long haul, providing a strong foundation for decentralized applications across finance, identity, social, prediction markets, and beyond. Timeline: 0:00 Ethereum roadmap backdrop 01:20 Ethereum's two core roles: DA and execution 03:01 Core values: security, verifiability, fair access 03:50 dApps will remain hybrid onchain-offchain 05:21 L2s should not become bigger centralized Ethereums 06:01 Ethereum must scale data and execution together 06:31 The next five years: scaling, zkEVM, post-quantum, privacy 07:39 Next hard fork: parallelization, gas repricing, higher gas limit 08:13 Account abstraction: smarter wallets, gas sponsorship, privacy, post-quantum support 09:50 Mid-term bottleneck: state growth 10:12 Security, formal verification, and AI-assisted proofs 11:47 Ethereum must rely less on core dev teams 13:40 Ethereum's endgame: a global shared layer for rules and data commitments

This episode features a fireside chat at Paris Blockchain Week 2026 between Brian McGleenon, Global Head of News at BeInCrypto, and Ben Zhou, Co-Founder and CEO of Bybit. The conversation focuses on the accelerating convergence of crypto and the global financial system. Ben argues that exchanges used to compete mainly on execution and liquidity, but over the past three years the real edge has shifted to compliance, licensing, and global distribution. As stablecoins, tokenized assets, smart contract-based payments, and 24/7 markets gain traction, crypto platforms are evolving from trading venues into financial infrastructure connecting capital, assets, and users worldwide. For traditional financial institutions, the appeal is not necessarily direct crypto exposure. It is the ability to use crypto rails for cross-border allocation, asset tokenization, portfolio diversification, and yield enhancement. Ben also compares the regulatory landscape across jurisdictions. In his view, the EU is ahead in tokenization, the UAE has attracted a large number of crypto firms through a more pragmatic regulatory approach, and the US remains the key variable for large-scale institutional adoption. The UK, meanwhile, appears to be taking a more constructive stance. On DeFi, Ben says the sector is still in a regulatory "honeymoon phase," but will likely face clearer rules over time, much like centralized exchanges did. On AI Agent payments, he sees strong interest, but believes the space remains largely focused on data access and analytics rather than large-scale transaction execution. Text summary: Link Timeline: 00:00 Intro: Crypto merges with global finance as exchange competition shifts to compliance and licensing 01:06 The new role of crypto platforms: global distribution rails for assets and users 03:02 Is TradFi ready for stablecoins, agent payments, and RWAs? 04:51 Why distribution is becoming crypto's most valuable infrastructure layer 07:34 TradFi still resists the "crypto" label, but embraces the underlying rails 09:33 Comparing global regulation: the EU, UAE, and US each take a different path 12:14 US regulatory clarity will determine when major institutions scale in 15:08 DeFi is still in a "honeymoon phase"; DEXs and tax may be the first targets 18:09 AI Agent account use cases: strong demand for analytics, limited trading execution for now

# Binance Founder CZ on His New Book & Advice for Young People This AMA focused on CZ's new book, Freedom Of Money, touching on his entrepreneurial journey, why he wrote the memoir, and his views on young people, founders, investors, and the future of crypto. CZ said he has no plans to start another company at this point. Instead, he prefers backing projects as an advisor and investor. When evaluating founders, he cares most about mission-driven people who can survive bear markets and execute through tough cycles. On setbacks and major life decisions, CZ stressed the importance of keep moving, adjusting direction when needed, staying disciplined on spending, and committing to long-term learning. For young people, he believes the opportunity set today is actually bigger than before. In his view, AI, the internet, and blockchain will continue creating new paths for upside. CZ also remains highly bullish on crypto. He believes blockchain adoption is still in its early innings, with much bigger roles ahead in payments, FX, commodities, and AI agent-driven transactions. He added that the process of writing and publishing Freedom Of Money helped him reexamine his own journey, gain fresh perspective on some major events in his past, and find a sense of personal closure. Text summary: Link Timeline: 00:00 Intro 02:21 Will he start another company? Why he's focused on advising and investing instead 05:28 Where the confidence to build from scratch came from 09:52 How to keep going in low moments — and how to know when you're on the wrong path 15:42 The long process behind publishing Freedom Of Money and what he wanted to say with it 21:02 How he evaluates projects today — and how not to miss the next Binance 26:35 How to judge whether a crypto narrative can survive cycles 30:05 The most overlooked part of Binance's early growth: extreme intensity behind the scenes 32:35 Advice for young people: consume less, learn more, and go after new opportunities 38:57 Simplified Chinese edition updates, piracy, and his take on Meme culture 46:31 Whether writing the book changed how he sees his past and identity 50:45 Why he chose to publish a book after years of controversy 53:36 Whether ordinary people still have life-changing upside in today's Web3

This interview delves into the evolution of BitMart and the broader cryptocurrency industry. Nenter Chow, Global CEO of BitMart, shares his journey from traditional finance to Web3, emphasizing the market's shift from pure speculation to fundamental utility and real financial plumbing. Key topics include BitMart's strategic focus on omni-asset access, including RWAs and US equities, global compliance with operations in 50 US states, and user education through initiatives like the UNICEF partnership. The discussion also covers the integration of AI in internal operations such as audits and surveillance, the growing convergence between traditional finance and crypto, career advice for entering Web3, and an honest assessment of the current sell pressure and future opportunities in the crypto venture capital landscape. Text summary: Link Timeline: 00:00 Introduction and Background 02:48 BitMart's Evolution and Shift Towards Utility 05:26 Market Maturation and Fundamental Value 08:41 BitMart's Key Differentiators and Compliance 11:03 US Market Strategy and Global Expansion 13:55 Roadmap, TradFi Products, and Education 17:05 Integrating AI in Exchange Operations 18:54 Convergence of TradFi and Crypto Markets 20:45 Market Outlook and Structural Shifts 23:45 Transitioning from TradFi to Web3 Careers 26:40 Hiring Criteria and the 24/7 Web3 Mindset 28:57 The Current State and Future of Crypto VC

On February 3, Ethereum co-founder Vitalik Buterin sat down with Michel Bauwens, founder of the P2P Foundation, at the ETHChiangmai Summit 2026 for a wide-ranging conversation on Web3, crypto, and new forms of social coordination. Vitalik reflected on Ethereum's original vision and shared his concerns about the current state of the crypto space, arguing that technological progress must ultimately serve broader social and political goals. Beyond technical breakthroughs, he questioned how crypto can respond to a growing global crisis of trust. Michel introduced the idea of "regenerative accelerationism," advocating for technology that actively supports sustainable social development, especially by connecting crypto with the real, productive economy. Together, they explored decentralized social models, the role of technology in enabling global collaboration and shared resources, and the challenges Web3 faces in moving beyond speculation toward deeper economic and social transformation. Text summary: Link Timeline: 00:00 Vitalik reflects on early Ethereum ideals and why a return to core values matters 03:53 The TRUMP memecoin moment and a broader identity crisis for crypto 06:38 Regenerative accelerationism and accelerating alternatives during global breakdown 10:28 Examples of crypto aligned with regenerative practice 15:25 Why users resist unfamiliar crypto mechanisms and default to ERC20 and dollars 17:43 Funding models in Web3 and NGOs, and why real-world practices stay marginal 20:00 Ethereum's next five years and a return to the original Web3 vision 24:21 DAO design trade-offs and over-optimization for legal safety 26:00 Rethinking finance, collusion, and limits of interoperability 29:35 Michel on P2P as a human system and global self-organization 32:07 AI as "stigmergy without humans" and the edge of a new civilization 33:34 Future expectations for 4seas, hackers, and the Chiang Mai ecosystem 34:12 From extractive to generative economies and contribution-based value creation

This episode of WuBlockchain Podcast explores the long-term evolution of Vietnam’s crypto market through the perspective of Thanh Le, CEO of G98 and Founder of Ninety Eight. Drawing on his experience since entering the industry in 2017, Thanh discusses how Vietnam’s crypto ecosystem has matured from an early high-risk phase into a highly active market shaped by retail participation, developer talent, and emerging regulation. Ninety Eight builds practical Web3 products, including multi-chain wallets and DeFi tools, from Vietnam. Through G98, a joint venture with G-Group, these technologies are localized and deployed using domestic infrastructure to support digital-asset-related products and services in the Vietnamese market. Text summary: Link Timeline: 00:00 Opening & Guest Background: A long-term, on-ground perspective since entering the crypto industry in 2017 01:15 Evolution of Vietnam's crypto market: From widespread scams to recognition as a new asset class 03:21 Market size and activity: Vietnam's user base characterized by high ownership and high trading activity 07:19 User entry paths: Generational shifts from Bitcoin to GameFi, DeFi, and memecoins 10:16 User profiles and risk appetite: From CEX-dominated trading to a growing understanding of on-chain activity and strategy allocation 13:26 Regulatory environment: A conservative yet supportive policy stance and expectations around a 2025 inflection point 16:41 Shifts in asset and narrative preferences: A return to BTC and major assets alongside interest in emerging narratives 19:04 Cooling of Vietnam-based projects: The impact of the bear market, talent outflows, and regulatory uncertainty 22:58 Developer ecosystem and city distribution: A technical talent pool spanning both Solana and EVM ecosystems 26:18 Changes in the fundraising environment: From pro-cyclical fundraising in 2021 to a broadly tighter capital market 29:11 Vietnam's long-term advantages: Strong learning willingness, community mobilization, and talent supply

In this keynote address, Bybit CEO Ben Zhou reviews the rapid development of the global crypto industry in 2025 and systematically outlines Bybit's strategic transition from a "crypto exchange" to a "comprehensive financial platform." He notes that clearer regulatory frameworks, increasing institutional participation, and the growth of stablecoins and real-world assets (RWA) are collectively driving crypto assets into a broader mainstream financial system. During the speech, Ben also reflects in detail on the market turmoil of October 10 (10.10), analyzing its impact on market liquidity and trading infrastructure. He revisits key issues exposed by the event, including liquidation mechanisms, mark price accuracy, auto-deleveraging (ADL), and overall system stability, and introduces a series of upgrades and improvements Bybit implemented afterward across risk management, market surveillance, and core infrastructure. Looking ahead to the coming year, Ben further outlines Bybit's product and strategic roadmap, including continued expansion of global compliance and licensing, enhancements to fiat on- and off-ramp and payment networks, the launch of retail banking accounts and more comprehensive wealth management offerings, the introduction of RWA-based yield solutions, and deeper integration of AI across trading, risk control, and user experience. Overall, Bybit aims to position itself as a long-term infrastructure builder, bridging traditional finance and crypto while improving global access to and efficiency of financial services. Below is the transcript of Bybit CEO Ben's keynote. The audio transcription was generated by GPT and may contain inaccuracies; minor edits have been made for readability. Text summary: Link Timeline 00:00 Introduction and keynote opening 00:34 2025 crypto adoption trends and global market growth 01:57 Regulation, ETFs, stablecoins, and institutional adoption 03:40 Crypto as global financial infrastructure and inclusion tool 05:41 Bybit's vision: from exchange to financial platform 06:52 Compliance-first strategy and global licensing expansion 07:35 Building global fiat, card, and payment infrastructure 09:39 Bridging TradFi and crypto through RWA and custody solutions 12:51 Connecting crypto users with traditional markets (stocks, gold, forex) 14:00 Wealth management, Earn products, and private banking services 16:43 Launch of retail banking accounts ("MyBank by Bybit") 19:51 RWA strategy and tokenized asset outlook 20:41 Product simplification, user feedback, and app restructuring 24:51 AI-powered support, automation, and user experience upgrades 25:54 Advanced trading tools and execution infrastructure 30:11 Options market growth and institutional trading features 31:35 Market crash reflection and risk management improvements 34:19 2026 roadmap: payments, RWA, AI agents, and infrastructure 38:40 Corporate responsibility and global community initiatives 40:09 Tokenized stocks, DEXs, and future market structure 44:04 Closing remarks and long-term vision

In this episode, Tekin Salimi, founder of dao5, discusses his transition from traditional crypto venture capital to building dao5, a decentralized autonomous organization (DAO). He reflects on the challenges and opportunities in the crypto space, shares insights on DAOs, venture funding, and the intersection of blockchain technology with AI, and explores the evolving crypto ecosystem in the wake of 2024 market shifts. Tekin Salimi outlines his journey from Polychain Capital to founding dao5 in 2022, where he focused on creating a unique investment fund model with a strong emphasis on adaptability. His approach in dao5 differs from traditional venture capital by prioritizing people and community formation within the decentralized framework. He delves into the market dynamics of altcoins, token distribution, and venture capital's shift toward decentralization. Tekin also highlights dao5's future governance model, where decisions will be gradually decentralized, but with a strong leadership core initially. The discussion touches on current challenges in meme coins, institutional adoption, and how the DAO model can address issues like liquidity, incentives, and governance in crypto. He concludes with thoughts on the long-term potential of decentralized AI and crypto integration. Timeline: 00:00 Introduction and dao5 Overview 02:46 Key Differences Between dao5 and Traditional VC 04:29 dao5's Focus on People and Governance 06:33 Vertical Focus and Investment Strategy 08:54 Institutional Adoption vs. Crypto Native Innovation 10:45 Shifting Focus Toward Enterprise and Compliance 11:41 Performance of dao5's First Fund 13:47 Bittensor and dao5's Role as an Incubator 15:43 Blockchain and AI: Future Synergies 17:05 Shift in VC Return Expectations 18:50 The Meme Coin Dilemma for VCs 21:09 Transitioning to a DAO: Governance and Structure 23:53 Ensuring Balance Between Small and Large Stakeholders 26:30 Building Value-Aligned Community Participation 27:39 Handling Trust and Legal Risk with Pseudonymous Founders 28:55 The Future of Crypto VCs in a DAO-Driven World 30:40 Western vs. Eastern Crypto Ecosystems 32:18 Overcoming Gaps in Liquidity, Networks, and Regulation

In a January 31 AMA, CZ said Binance’s core strategy today is compliance, stability, and long-term survival, rather than rapid expansion or chasing every new trend. In the current regulatory and industry environment, he stressed that lasting longer matters more than growing bigger. Binance is prioritizing sustainability over short-term scale. Strong regulation, in his view, is a structural trend in crypto—not a temporary phase—and Binance’s approach is to adapt to regulation, not fight it, with different compliance strategies across jurisdictions. CZ also said the get-rich-quick era is over. Crypto is no longer a market driven by fast money or short-term speculation. Strategies that relied on cycle timing and quick gains are fading, and the industry’s focus is shifting toward long-term building—core infrastructure, real demand, and applications that can operate within compliant frameworks. On Binance Alpha, listings, and Meme Rush, CZ positioned Alpha as an ecosystem access layer, not an endorsement. He acknowledged execution issues with Meme Rush, while emphasizing that concerns from neutral users deserve serious attention. He reiterated that exchanges provide market access, not guaranteed returns, and that investment decisions remain the user’s responsibility. From a market perspective, CZ took a more cautious stance on a near-term Bitcoin supercycle, expecting continued volatility. Long term, he remains bullish on Bitcoin and views it as superior to gold, though global consensus will take time to form. He also reaffirmed Binance’s 100% reserves and proof-of-reserves framework, noting that past stress tests have demonstrated the platform’s liquidity and asset safety. CZ also addressed market criticism and community disputes around Binance, BNB, and BNB Chain. He denied claims that Binance or he personally manipulated the market or caused the October 11 sell-off, emphasizing that price movements were driven by macro factors and that no single entity can realistically control Bitcoin’s price. Views related to the 10/10 incident reflect CZ’s personal opinion only. For the official report and broader perspectives, please refer to: Link Text summary: Link Timeline: 00:00:00 CZ's comment on Aster 00:00:46 Community raises concerns about FUD, listings, Alpha, and Meme Rush 00:04:32 Rebuttal of claims that Binance caused the October 10 market crash 00:04:32 Explanation of regulation, monitoring, and why manipulation claims are unrealistic 00:06:45 Response to accusations about personal wealth and asset dumping 00:18:20 System issues, compensation, and limits of technology during peak stress 00:13:17 Origins of FUD: competitors, paid “water army,” and emotional traders 00:18:34 Meme Rush rationale, implementation flaws, and listening to the silent majority 00:21:13 How FUD backfires by increasing Binance visibility and user loyalty 00:24:34 Personal responsibility as a core principle for traders 00:26:07 Outlook on Bitcoin super cycle becomes more cautious amid volatility 00:29:06 Bitcoin vs. gold: long-term superiority vs. short-term adoption reality 00:30:48 Role of AI in future trading, UX, research, and exchange operations 00:33:15 Proof of reserves, audits, and Binance’s handling of extreme withdrawals

At the 2026 Davos Forum's *New Era for Finance* roundtable, leading figures in the financial sector from various regions gathered to discuss how technological innovations are reshaping global finance, with a particular focus on the role of cryptocurrencies, blockchain, and artificial intelligence in payments and financial transactions. Below is an excerpt of Binance founder CZ's remarks. CZ believes that while the payments sector still faces challenges, the integration of traditional payment methods with cryptocurrency will drive significant growth in the future. He also expressed concerns about the risks associated with Bitcoin payments, Memecoins, and traditional banks, citing their high levels of speculation and uncertainty. When discussing the need for a unified global regulatory framework, CZ noted the difficulty in implementing such a framework due to varying regulations across countries. He proposed the idea of a "regulatory passport," where a license obtained in one country would be recognized by others, offering a more feasible solution than creating a global regulatory body. Text summary: Link Timeline: 00:00 Differences between cryptocurrency and traditional financial regulation 03:12 CZ introduces the innovation prospects of cryptocurrency and blockchain 06:40 The future of Bitcoin payments 07:18 Thoughts on Memecoins and the Metaverse 08:22 CZ: Traditional banks will significantly reduce in the next decade 09:51 In-depth reflection on bank liquidity issues 10:52 Different responses of cryptocurrency and banking systems 12:29 Challenges of global regulatory frameworks and regulatory differences between countries 14:35 CZ suggests "regulatory passports" as a global regulatory solution

In this episode of ETHPanda, Tomasz Stanczak, Co-Executive Director of the Ethereum Foundation, shares his journey from traditional finance to Ethereum core development. He explains how he founded Nethermind from scratch and became a driving force behind the Ethereum core protocol. Tomasz discusses the challenges he faced, including resource constraints and fundraising. He also provides insight into the future direction of the Ethereum protocol, particularly the integration of Agentic AI with ETH, and how standards like ERC-8004 are driving the adoption of AI agents on Ethereum. Additionally, he covers the interoperability of Layer 2 solutions and the Ethereum community's development strategy. Timeline: 00:00 Opening & Introduction 03:18 The path to Ethereum core development 05:18 The advantages and challenges of starting Nethermind without funding 09:23 The development of Nethermind 12:45 Key milestones for Nethermind 16:57 A piece of advice to my younger self 19:11 Ethereum Foundation's goals and challenges 22:22 Discussing Layer 2 interoperability 26:38 Ethereum's future community development strategy 33:29 The future of Ethereum and AI integration 39:27 Ethereum as an AI collaboration layer 42:34 How Agentic AI integrates with blockchain governance 50:09 How the Ethereum Foundation supports AI and ETH development 53:13 Contributions from China to Web3 and AI development

In this BNB Chain 2025 Year-End AMA, CZ reflects on a year that marked a turning point both for him personally and for the broader crypto industry. He talks about how life changed after receiving a pardon, and how his focus has shifted toward education, early-stage investing, ecosystem mentorship, and advising governments on crypto policy. The discussion spans key milestones across BNB Chain, Giggle Academy, YZi Labs, and Binance, highlighting renewed growth momentum on BNB Chain, continued adoption of stablecoins, and the emergence of prediction markets as an increasingly important on-chain use case. CZ also shares his perspectives on the evolution of stablecoins, the rise of AI agents, real-world asset (RWA) tokenization, and where crypto infrastructure may be headed in 2026 and beyond. Text summary: Link Timeline: Host Interview with CZ 00:00 Life after the pardon and personal reflections 01:20 Four core focus areas: Giggle Academy, YZi Labs, BNB Chain ecosystem mentorship, and government advisory work 05:02 Key 2025 milestones: education, BNB Chain growth, investment pace, and Binance user scale 08:32 Why prediction markets are gaining momentum and how CZ views multi-team competition 13:09 Stablecoins as a turning point in crypto infrastructure discussions 15:39 Stablecoin "1.0 vs 2.0," yield mechanisms, regulation, and opportunities on BNB Chain 17:42 What CZ looks for in founders and mission-driven teams Community Q&A 21:22 Advice for technical builders transitioning into business and leadership roles 23:58 Lessons from BNB Chain's early "undervalued" phase and a long-term mindset 27:51 Why stablecoin competition is not a zero-sum "horse race" 31:47 Crypto social platforms versus X and the value of native crypto communities 36:07 Early-stage prediction markets: execution over current features 39:38 BNB Chain's future goals and CZ's advisory role 41:50 Views on real-world asset tokenization, AI, robotics, and DePIN 45:34 AI trading agents, the limits of shared strategies, and future adoption paths

At Binance Blockchain Week 2025, held on December 3–4 in Dubai, Tom Lee-Co-founder of Fundstrat and Chairman of BitMine-delivered a keynote titled "The Crypto Supercycle Intact." In his speech, he systematically outlined his long-term bullish thesis on the crypto market. His core arguments included: why tokenization is the defining theme of 2025; why he believes Bitcoin and Ethereum have already bottomed; how the traditional four-year cycle is being disrupted; why Ethereum is positioned as foundational infrastructure for the future global financial system; and why Digital Asset Treasury (DAT) companies will play a critical role in the next phase of crypto financialization. Tom Lee argues that Bitcoin's cyclical logic is being reshaped by industrial and inflation cycles, rather than the familiar four-year halving pattern. On tokenization, he emphasizes that the true transformation goes far beyond simple "digitization of assets." In his view, the future of finance involves deep financial decomposition and reconstruction, where stocks, cash-flow streams, product lines, and even the implied economic value of a CEO can be fragmented, priced, and tokenized-enhancing transparency, predictive power, and hedging efficiency across capital markets. He also describes how BitMine, as a representative DAT, aims to serve as a bridge between Wall Street and the crypto ecosystem. Text summary: Link Timeline: 00:00 Context of the speech: Tom Lee's professional roles and why he addresses crypto amid a market pullback 01:36 Five themes overview: tokenization, market cycles, Ethereum, institutional opportunity, and digital asset treasury companies 02:53 Reviewing a decade of asset performance: why crypto remains the strongest asset class 03:55 Major positive developments in 2025: policy support and institutional adoption 05:39 Tokenization becomes the core narrative of 2025: Ethereum's "ChatGPT moment" 06:36 Long-term growth potential: adoption remains extremely low 07:46 Assessing the market bottom: mispricing, deleveraging, and structural changes 08:26 Discussion of Bitcoin's drawdown: is the four-year cycle still valid? 09:36 Fundstrat model adjustments: incorporating Tom DeMark's timing indicators 11:22 Dissecting the Bitcoin four-year cycle: why it may be breaking down 13:40 Price implications: if the cycle breaks, Bitcoin could set new highs in January 14:10 Why Ethereum is the future financial infrastructure 15:41 Continued Ethereum upgrades: reinforcing its ecosystem position 16:27 ETH/BTC valuation breakout: structural repricing ahead 17:39 The true value of tokenization: from digitization to financial decomposition 19:56 Prediction markets + tokenization: a new architecture for capital markets 21:18 Strategic role of DATs in bridging TradFi and DeFi