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first_img He Yi: Binance does not seek to cut costs through layoffs, but aims to grow from 300 million users to 3 billion and become a global financial infrastructure

ChainCatcher reported live that Du Yu, head of the Wanxiang Blockchain Lab, and He Yi, co-CEO of Binance, attended the 2026 Hong Kong Web3 Carnival, engaging in a roundtable discussion titled "Reshaping Boundaries: The Next Decade of Web3, AI, and the Intelligent Economy."Regarding the three major areas of personal focus, He Yi stated that she is currently dividing her time among three sectors: first, the world changes brought about by the approaching AI singularity, contemplating the product and service forms of Binance in the next decade; second, organizational and talent development, as companies need self-sustaining growth capabilities to support development once they reach a certain scale; third, the further integration of crypto and traditional finance, which is actively promoted in both the U.S. and Hong Kong, with the possibility that global foreign exchange may occur on blockchain rather than the SWIFT system in the future, and asset trading will achieve 24/7 uninterrupted global operations like in the crypto space.Regarding the impact of AI on Binance, He Yi clearly stated that Binance does not intend to lay off employees on a large scale to cut costs and improve efficiency like most tech companies. She believes AI makes the strong even stronger, as a programmer using AI to write code can enhance efficiency tenfold. She also shared that an employee was discovered and fired for "taking on multiple jobs" after their efficiency improved due to AI. She stated that Binance's overall approach is to further enhance the organization's output and innovation capabilities rather than reduce costs at the current scale.Regarding the goal of reaching three billion users, He Yi revealed that this year they have upgraded their target from pursuing one billion users to pursuing three billion users. She believes that becoming a company with three billion users means Binance is not just an exchange but a global financial infrastructure, with services aimed at everyday payments and wealth management for ordinary people.On the essence of AI, He Yi stated that there should be no "technological arrogance." No matter how advanced AI is, the most important thing for individuals is how technology serves life. She gave an example of when a bean bag can tell a rural elderly woman that a certain health product is fake and not to buy it, or when a lonely elderly person can chat with someone through AI; this is the value and significance that technology brings to humanity.Regarding the integration of crypto and traditional finance, He Yi pointed out that the internet has already gone through this path. Initially, Silicon Valley's internet had a strong hippie culture, which later diverged into two paths: those who went left pursued absolute freedom in the dark web, while those who went right created Google and Amazon, becoming commercial companies serving the public. Binance will steadfastly move towards serving the public. She also revealed that Binance has launched trading in commodities such as crude oil, gold, and silver, with the platform's commodity trading volume already accounting for a very high proportion of traditional scales. She believes that when labeling oneself to distinguish between Crypto and TradFi, that label is "drawing a line," and one should return to first principles: contributing to financial freedom and equality in the world.Regarding industry maturity and original intentions, He Yi stated that when Wall Street and traditional finance make a 180-degree turn to embrace crypto, it precisely indicates that the industry is becoming increasingly mature, with early-stage dividends diminishing. Entering a mature phase means crossing a chasm, and products must truly have value and be grounded. She quoted a phrase she has been saying since 2017: "We are not starting a business; we are creating history." Binance's slogan has also remained unchanged—"Exchange the World." She emphasized that the impact and transformation of Web3 on finance are real, and even if it only improves financial efficiency a little, it is an incredible innovation. There is no need to pursue perfection in one step; "just make a little progress every day."

The UK Financial Conduct Authority is seeking feedback on the 2027 cryptocurrency regulatory framework

According to Cointelegraph, the UK's Financial Conduct Authority (FCA) has announced that it is seeking industry feedback on guidance for the future regulatory framework for crypto assets in the UK, aimed at facilitating the implementation of a comprehensive regulatory framework that will take effect on October 25, 2027.According to the announcement, this consultation will last until June 3, 2026, and aims to help businesses understand the impact of the new regulations on their operations, providing compliance guidance for key areas such as stablecoin issuance, crypto trading, custody, and staking.The FCA stated that it hopes to establish a "competitive and sustainable" crypto market, allowing compliant institutions to better serve UK users. The FCA also disclosed that the application process for relevant crypto business licenses is expected to open in September 2026 and continue until February 2027.All institutions providing crypto asset services will need to obtain authorization under the Financial Services and Markets Act (FSMA) in the future, and previous registration under anti-money laundering frameworks will not automatically exempt them. This guidance consultation is seen as an important step in the UK's gradual improvement of its crypto regulatory system, marking an accelerated transition from partial regulation to a comprehensive licensing system.
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