Binance co-founder He Yi stated in a Twitter space that many projects use airdrops to wash out users, who are not real users. Most projects lack a business model, and those with a business model are not valuable, as they are evaluated using Web2 models, putting the entire industry in an awkward phase. Ultimately, understanding a project requires it to be solid and beneficial to society; true profitability leads to success that can be shared with users. The entire policy direction in the U.S. has made a 180-degree turn, and with Trump's new policies, it may lead to industry reforms. Most memes will go to zero, and I can't decide or define which coins will survive. We have a list of over a hundred projects, but there are indeed many that are hard to handle due to various issues, such as poor token models or inflated data. There are also many rumors about insider trading; it would be better to put all coins in the alpha zone for everyone to trade. We need to find projects that can survive in the long term. Project parties must understand that the project's own social value, labor results, and sharing with users and the community are essential. Alpha will feature some meme coins that are hot in the community, and it is meaningful for everyone to capture some value amidst the void.

He Yi stated that the probability is not that high; just because you enter alpha doesn't mean you will get listed. Alpha is a relatively large pool that includes both community hot coins and some with solid fundamentals but less popularity.