When market awareness and human greed are confused in chaos, how to grasp long-lasting creativity and tenacity is a topic that every crypto participant thinks about.
From the earliest BTC's collapse of centralized finance to the passing of spot BTC ETFs and the full blossoming of crypto exchanges, the construction of the new financial system has completed a journey of nearly a hundred years in less than 20 years. Among them, LBank, which has a history of nine years, has also become an important role in this crypto game, from a silent corner to a table participant.
From a team of 20 people at the beginning to an international team of 500 people in 19 countries and regions around the world, the user scale has also jumped from zero to tens of millions. Along the way, LBank has developed from a single cryptocurrency trading function to a comprehensive service platform integrating diversified financial services with its unique global layout.
Coming out, starting from a piece of code
Eric He, the current CEO of LBank. As a programmer, he had a deep insight and infinite vision for blockchain technology when he was in college. With his passion and the exponential growth of investment returns, he started to go all in on blockchain in 2014.
In 2015, the crypto industry was still a wild and crazy era. It was in this best era that Eric He founded LBank and assembled a team of nearly 20 people in just one week. They resolutely devoted themselves to this industry full of unknowns and challenges.
The first thing LBank dealt with in its embryonic stage was the product. They were like a group of tireless dream builders, immersed in intense development and testing for months. Overtime became the norm, and they worked day and night on the front line. As one of the leaders, Eric He took on the roles of full-time BD and 24-hour customer service. Offline, he was a high-spirited business BD running around everywhere, and online, he was a customer service with a sincere attitude and attentive service.
However, soon after its launch, the crypto industry experienced a bubble of market prosperity. Excessive speculation, lack of supervision and high fraud rates in the market led to the collapse of the market and the beginning of a cold winter. LBank's development entered a short period of pause, but LBank did not rest on its laurels. It has been constantly updating and iterating products and innovating and upgrading functions according to the needs of market users. While "overwintering", it is preparing for the next stage of strategic planning.
Finally, in 2018, when the market rebounded, LBank's global registered users exceeded 1 million for the first time, and the C2C platform was launched in the same year. In the past three years, this team, who is passionate about blockchain, has continuously overcome difficulties one after another, from the initial solution design, the construction of technical architecture, the online operation of the trading system, to the continuous online update of products and the attraction of users, and has established its own brand influence in the market and completed the initial user accumulation.
Explore and find your own Alpha from controversy
The crypto market has been full of controversy since its birth. This market is destined to be imperfect, even full of flaws and manipulated by capital, but it is precisely because of this plasticity that it is full of infinite temptation and creativity.
In 2019, the crypto industry recovered from the bear market. After experiencing a complete bull and bear market, market users have more diversified and detailed security requirements and product demands for exchanges. At this stage, LBank has become famous in the industry and attracted elite talents from traditional financial giants such as Google and Goldman Sachs.
In 2020, with the continuous maturity of technology, the gradual enrichment of products, and the widespread recognition of market users, LBank began to accelerate the pace of global layout and ecological expansion. At present, LBank team members are spread across 19 countries and regions including the United States, Dubai, South Korea, etc., and the team size has expanded from 20 people at the beginning to more than 500 people today.
At the same time, adhering to the core principle of "user first", LBank continues to deepen its brand building journey. The team actively planned and implemented a series of offline exchange activities around the world, covering more than 200 countries and regions such as New York, San Francisco, Seoul, Dubai, etc. In this process, the team's insight into the global encryption market has been further deepened, and LBank's influence in the international cryptocurrency field has also been enhanced.
The crypto market has entered a "theme period" with the continuous development of DeFi, NFT, Metaverse, and GameFi. LBank continues to explore new representative assets of different cycles and quickly launches new ones, providing users with extremely rich investment options. The diversified investment portfolio also largely meets the needs of users with different risk preferences and investment strategies.
Steady grasp of fundamentals, focus on paranoid trading of strong targets
To become a "myth", one needs not only victory but also twists and turns. Whether it is the 81 difficulties, the founder's divine personality in fighting against power politics, or even the mistakes that shocked the world, these can all construct a "myth".
While deepening its roots in the exchange field, LBank has also carried out a full-dimensional ecological layout. It has strategically cooperated with public chain ecosystems such as Solana and TON to jointly promote the development and application of blockchain technology. It has also won awards at industry conferences such as TOKEN2049, Consensus, and South Korea's KWB, and has been highly recognized and praised by people inside and outside the industry.
According to Coingecko data, LBank has launched 689 currencies and 819 trading pairs, with 6.2 million visits per month and daily trading volume exceeding 2 billion US dollars. There are thousands of professional traders, tens of thousands of copy traders, and the total copy trading income exceeds 10 million US dollars.
Human beings pursue trends, and trends create value. This is the history that humans repeat over and over again. Similarly, LBank is creating its own history. As for those who fall behind on the journey to learn, their regrets often prompt them to become the main purchasing power in the future.
After entering 2024, the crypto industry has entered the "meme cycle". The influx of emerging assets often exceeds market expectations, and even caused controversy in the market about the investment direction of crypto assets. LBank is aware of the huge potential of MEME as an emerging asset, and has implemented a super-efficient listing strategy, striving to incorporate popular meme coins into the platform as quickly as possible. On the basis of ensuring the quality of meme coins, it quickly responds to market user needs, allowing investors to get in touch with potential Alpha memes as soon as possible.
When interests, consensus, and intuition are intertwined and mixed into various noises in the dynamic fluctuations of the rising cycle, various potentials will be seen, just as no one will question that Trump is a ticket that attracts new retail investors from the alternating bull and bear markets of PoliFi memecoin. However, what we need more at this time is the role of a guide in the dynamic observation consensus, and LBank happens to interpret this role and market positioning very well.
As a nine-year-old exchange, LBank has achieved certain success in the field of meme coins, but the lack of some important currencies is still a shortcoming. For this reason, LBank CEO Eric He has launched an "asset completion" plan, aiming to break the limitations of the information cocoon and achieve diversified and refined asset allocation. He firmly believes that the "asset completion" strategic plan will be a long-term strategy for transforming narrative assets into core assets in the ever-changing crypto world and a core pillar to support the future development of the platform.
Be a "long-termist" in the Crypto industry
When the team becomes the Schelling point of growth, with global layout and solid product polishing as its core strength, the basic consensus of the exchange has basically been reached.
The crypto market is undergoing natural screening and evolution. When the 1% of long-termists and 99% of short-termists are showing signs of fatigue in the market, long-termists are difficult to identify and screen. We cannot simply listen to what they say, and we may even have to rely on paranoia and weirdness to screen out those with lofty ideals.
Uniqueness and scarcity, mergers but incompatibility, no replicable success in the market, just like the growth of LBank, magical but dynamic.
As an exchange that has broken the test of nine years, LBank will continue to break through various barriers, achieve regional scale effects and network effects, reduce switching costs, stick to its original intention in the storm, and forge ahead.
Although the crypto industry has ushered in the "iPhone" moment in the spot Bitcoin ETF, LBank will achieve value capture through the "asset completion" plan in terms of controlling the core assets of the crypto industry in the future, although this is a long-term path of change.
