Joyce Yang from Global Coin Research joined us in a discussion to review Binance, the largest cryptocurrency exchange globally, its rapid rise and current lead in the industry. We began the chronological history of the company and  how the founders Zhao Changpeng and He Yi built up the cryptocurrency exchange from 2017 to now the leading player with 40% of the market share globally. We discuss their current business footprint, their current projects from the stable coin project to the recent announcement of the Binance chain.

Here are the interesting show notes and links to the discussion (with time-stamps included):

  • Joyce Yang (@JoyceInNYC , LinkedIn), Founder of Global Coin Research [0:34]
    • How did you start your career? [0:47]
    • From your career journey, what are the interesting lessons learnt? [2:31]
    • You are currently the founder of Global Coin Research, can you discuss what it does and what are you currently covering in the cryptocurrency and blockchain space? [5:09]
    • Do you need bifurcate the segmentation of the market to split between the cryptocurrency and blockchain when you cover the Asia market? [8:19]
    • Do you have to split China and the rest of Asia in the coverage of the cryptocurrency and blockchain space as well? [10:01]
  • Binance [11:49]
      • Can you introduce Binance, a global cryptocurrency exchange to my audience? [12:24]
      • What’s the chronology behind the formation of Binance, as the current CEO, Zhao Changpeng was the third member of the Blockchain.info team and also former CTO for OkCoin, one of the top 3 cryptocurrency exchanges in China? [14:56]
      • Who are the other key executives in Binance other than the founders (Zhao Changpeng and He Yi)? [18:00]
      • What is Binance’s mission and vision according to their founders? [21:17]
      • What’s the current business footprint of Binance given that it is originally founded in China and has to move out due to regulation in China? [25:37]
      • How did it become the largest crypto-exchange with a market capitalization of US$1.3B?  [28:52]
      • Can you explain the concept of stable coin and how Binance and three other major cryptocurrency exchanges raised US$32M for a stable coin project known as Terra? [32:55]
      • Why did Binance not build their own stable coin alone with Terra but instead partner with the other exchanges? [35:48]
      • Recently, they have announced the launch of the Binance chain, which is a blockchain made by Binance, what does it mean for the business and why is it important? [39:22]
  • Closing [42:29]

Podcast Information:

The show is hosted by Bernard Leong (@bernardleong & weibo) and are sponsored by Ideal Workspace (Twitter, Facebook and LinkedIn) with their new Altizen Desk (Twitter, Facebook, Medium). Sound credits for the intro music: Taro Iwashiro, “The Beginning” from Red Cliff Soundtrack and this episode is edited by Carol Yin, and co-produced by Carol Yin and Bernard Leong.