H1: The Early Days of the Crypto Industry Gold Rush Are Long Gone, Products Must Provide Real Value to Solve Problems
BlockBeats Live Update
April 20, 2026
On the first day of the 2026 Hong Kong Web3 Carnival, Binance Co-CEO He Yi joined a fireside chat titled “Reshaping Convenience: The Next Decade of Web3, AI, and the Smart Economy.” Here’s what he stated:
“When the internet first emerged in Silicon Valley, it had strong hippie culture. Back then, many people wrote off those into internet and tech as geeks or freaks. But the internet saw a major split: the ‘left’ group built the dark web, chasing absolute freedom, while the ‘right’ group founded Google and Amazon—becoming mainstream commercial giants serving billions globally. If you ask where Binance is headed, we’re unwaveringly moving to become a commercial company for the masses.
“Yet as we serve everyday users, we haven’t forgotten that tech innovation remains critical—whether blockchain or AI. Often, people think the stigma around crypto or public backlash is normal for new technologies. If everyone got it, if there was no controver
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One: No longer deliberately defining Binance's platform attributes and tradable asset scope
April 20, 2026 — On the opening day of the 2026 Hong Kong Web3 Carnival, Binance Co-CEO He Yi spoke during a fireside chat titled “Reshaping Convenience: The Next Decade of Web3, AI, and the Smart Economy.”
“As the crypto industry expands, more institutional users and traditional finance players are embracing crypto—and this is fundamentally an integration process. In this shift, some countries and regulators are leading the way because they understand what crypto is and its value to the global financial system. Today, we’re seeing innovators take the lead: in Hong Kong, firms like Futu and Tiger Brokers already hold both stock and crypto assets simultaneously. Similarly, Robinhood is doing the same in the U.S.”
“At Binance, we don’t want to limit ourselves to just crypto or stocks. In fact, we recently launched trading for commodities like crude oil, gold, and silver—and their volume now makes up a significant share of our overall activity. Traditional finance might see us as a
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An BTC Long Position New Stop-Loss Order was placed at $73,869, with the on-chain whale holding tens of millions of dollars being the closest to liquidation.
As of April 20th, per HyperInsight monitoring (https://t.me/HyperInsight):
- The closest BTC whale to liquidation on Hyperliquid is address 0xec3, holding a 40x leveraged long position worth $10.04 million. Key details: average entry price $74,628, liquidation price $72,776, opened 4 days ago.
- In the past 5 hours, this address placed a new market stop-loss order at $73,869, targeting a partial $2.37 million stop-loss (below its liquidation price).
- The closest multi-million-dollar short whale near liquidation is the "Strategy Counterparty," holding a 40x leveraged BTC short position. Details: average entry $76,290, liquidation price $76,402, current unrealized profit $700,000 (106%). Most of the profit was used for repositioning today.
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Goal One: Binance's aim is to reach 3 billion users and become a global financial infrastructure service for the public
April 20, 2026 – On the first day of the Hong Kong Web3 Carnival, Binance Co-CEO He Yi joined a fireside chat themed “Reshaping Convenience: The Next Decade of Web3, AI, and the Smart Economy.” During the discussion, he stated:
“I aim to boost Binance’s overall output and innovation capabilities, rather than just chasing growth tied to our current scale.
Today, I’m putting forward a somewhat bold idea: While Binance previously set a goal to reach 1 billion users, we should now target 3 billion. This means Binance won’t just be a trading platform – it’ll evolve into a global financial infrastructure. Our services need to serve everyday people, the general public, everyone – covering daily payments, wealth management, and more.
I want to encourage our employees to experiment and innovate more. As we keep pushing our business boundaries, our infrastructure must stay sufficiently stable.”
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Title: Title: Future of Blockchain: Blockchain Could Replace the Swift System, All Asset Transactions Will Take Place On-Chain
April 20, 2026 — On day one of the 2026 Hong Kong Web3 Carnival, Binance Co-CEO He Yi said during a fireside chat titled “Reshaping Convenience: The Next Decade of Web3, AI, and the Smart Economy”:
“I believe the industry could see a revolutionary shift ahead. Often, when that pivotal moment arrives, we’re actually oblivious to it—yet when it hits, it might feel like just another ordinary day. Still, the changes it brings to our lives and its broader impact could be profound.
For instance, global foreign exchange could shift entirely to blockchain down the line—ditching the traditional SWIFT system. We could also see all asset transactions become non-time-bound, running 24/7 globally—much like the crypto space. As a result, the entire world could rapidly enter a phase of exponential growth.”
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Current mainstream CEX and DEX funding rates show that the market continues to remain predominantly bearish
April 20th — Per Coinglass data, Bitcoin is trading in a sideways range, and current funding rates across major centralized (CEX) and decentralized (DEX) platforms signal predominantly bearish market sentiment, as detailed below.
**BlockBeats Note**: Funding rates are fees set by crypto exchanges to align perpetual contract prices with the underlying asset’s spot price. They facilitate fund transfers between long and short traders—exchanges do not retain these fees—and adjust the cost or profit of contract holders to keep prices in line with the underlying asset.
**Rate Context**: A 0.01% funding rate is the baseline. Rates above 0.01% indicate generally bullish sentiment, while rates below 0.005% signal predominantly bearish sentiment.
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