What will the “next Binance” look like?

In this cycle, there are fewer and fewer large exchanges that have a wealth-creating effect. The once-popular FTX is now a shell of itself. The listing effect of Coinbase is no longer as good as it used to be, and the Fcoin model has long been proven false. For the rest, Upbit has a listing effect, but its influence is limited to a small corner; the recent listing of the leading big brother Binance has also caused a lot of controversy.

I think there are two possibilities for the next Binance. The first is the on-chain route, which ensures that users can invest in undervalued, high-quality grassroots projects through a more effective screening model. The second is the off-chain route, which brings more diversified and long-term investment opportunities by introducing real-world assets such as stocks and securities.