In fact, there are two perspectives to look at these things. The first is to look for novelty and fun in news events from an entertainment perspective. If this is the purpose, the more details the better, because more details and a higher density will lead to more entertainment points and more interest. The other perspective is macroscopic, analyzing what trends these events reflect in the industry and even the world, and how these trends relate to oneself, mainly to guide decision-making.
Based on the latter perspective, the bigger the matter, the more you should look at it in a broad sense rather than in detail, and look at it with a telescope. Don't always think about deciphering the mystery, because those details have nothing to do with you. Think about how a middle school history textbook will record the current news 100 years later, and then imagine what will appear on the next page of this book? This is the really important question. Only by omitting all kinds of trivial details and grasping the overall trend can you identify the pattern called "historical law", and only by identifying such a pattern can you help yourself make choices and decisions.
Take the Binance legal settlement for example. I read a lot of comments, most of which provide details, fun and emotional value. Not many people discuss this matter in general and in a trending sense. In this case, I will share a few thoughts on this level. Be forewarned, it will definitely be boring:
1. Crypto/Web3 is equivalent to discovering a rich new continent.
2. The first group of explorers were idealists, while the second group were adventurers. After they immigrated to the New World, they quickly occupied the mountains and established a system that was a mixture of idealism, speculation, money worship, and plunder. This system lacked order and was full of chaos and jungle laws, but it also became a hotbed of innovation. This stage can be called the Age of Exploration.
3. Binance seized the historical opportunity, established order in chaos, and balanced the complex factors of ideals, innovation, speculation, and hype. It is undoubtedly the king of the exploration stage.
4. However, the new world has not yet produced an organization or power that can compete with the traditional world. Its original passive confrontation methods based on a thin anonymous mechanism are now useless. In this case, when its scale becomes larger and larger, and even begins to reversely affect the balance of power in the old world, the old world will definitely not sit idly by and will inevitably use its existing strength and means to intervene in the new world. This will push the history of the new world into the second stage, which can be called the colonial era.
5. The colonial era is an era of order construction for Web3/Crypto, but this order is not the one that best suits the local characteristics of the New World. Instead, it is an order in which multiple colonial powers of the Old World, after grabbing land in the New World, each combined new technological features in the colonies and grafted the original systems of the colonial powers, forming a variety of colonial systems with different characteristics that coexist and compete with each other.
6. Countries that see this are advancing the colonization process in different ways. Some countries are more proactive and willing to go deep into the hinterland, while others are more passive and only seek to defend the border. The Binance judicial settlement we have seen is essentially the same. This incident also marks that the United States' colonization process in the crypto new world has greatly accelerated. Hong Kong, Singapore and other regions are also accelerating.
7. From the perspective of development law, the colonial era is definitely not the end. The process of competition among multiple systems will eventually lead to the emergence of a new order. This new order is not only more in line with the characteristics of the new technology itself, but also has outstanding competitive advantages and the ability to compete with other systems, and can strongly reversely affect the old continent. However, it may take a long time for the new order to be created, established and successful. For quite a long time, we need to focus on the strategies of the colonial era.
8. Binance’s settlement is a helpless move in the short term, but it may be a good thing in the medium and long term, because as the king of the exploration era, it has successfully survived and entered the colonial era, and its strength has not been damaged, so it has the opportunity to continue to play an important role in the new era. Such good things are rare in history books.
9. In the next decade, the colonization of the Web3/Crypto world will be the main storyline of the industry, and the industry narrative will undergo fundamental changes. The most significant innovation and wealth creation opportunities are on this main line. It is not to say that the order of the exploration era cannot exist in the form of ruins and reservations, but its importance will gradually decline.
