Author: Observer Lao Wang; Source: C Labs Crypto Observation

Binance's growth path is like a carefully planned game. Every time the industry is turbulent, it can step on the right pace and achieve a leap.

On September 4, 2017, the People's Bank of China and seven other ministries jointly issued the "Announcement on Preventing the Risk of Token Issuance and Financing", requiring the ban on virtual currency transactions.

The two strong players in the exchange at that time were OKX and Huobi, but their founders Xu Mingxing and Li Lin both chose to stay.

The subsequent time is that Xu Mingxing said he would donate OKX to.

Li Lin sold all Huobi shares and posted on his Moments that he was no longer the actual controller and shareholder of Huobi Global, nor had any authority.

During this period, CZ resolutely went abroad and settled in the first place on the exchange in a short period of time, until now.

Before the thunder, FTX was once the most powerful competitor to challenge Binance's leading position, and was once supported by major VCs and even American politicians.

The FTX burst later.

Bybit has also been in a strong momentum in recent years, and its trading volume has surpassed other competitors and once became the second in the market.

Then Bybit was stolen, panic spreading, and it attracted a large amount of funds to enter the market with its security and liquidity.

At present, Binance is still firmly ranked first in the track of centralized exchanges, and no opponent is enough to challenge his position.

At the beginning of this year, Solana cooled down after the meme leek cutting industry chain of SOL chain was exposed.

After this, Binance accurately made efforts in BSC to further strengthen its public chain ecosystem.

And as God helps, Bybit's stolen funds laundered through OKX wallets, resulting in regulatory requirements for suspension of transactions, and a short-term market gap has emerged.

Binance Wallet has once again become the best alternative, and it takes the opportunity to attract users without transaction fees.

So far, CZ has publicly called for $TST and $Mubarak

He Yi has also publicly provided the BNB Card platform.

If Binance can take advantage of the momentum to change the old style of Binance Chain Meme, then it can continue to continue its dominant position in the on-chain era.

If Binance also becomes the overlord on the chain, the impact of this incident is no less than that of Tencent’s launch of WeChat in the mobile Internet era after QQ in the PC era.