WuBlockchain Podcast

In this keynote address, Bybit CEO Ben Zhou reviews the rapid development of the global crypto industry in 2025 and systematically outlines Bybit's strategic transition from a "crypto exchange" to a "comprehensive financial platform." He notes that clearer regulatory frameworks, increasing institutional participation, and the growth of stablecoins and real-world assets (RWA) are collectively driving crypto assets into a broader mainstream financial system.
During the speech, Ben also reflects in detail on the market turmoil of October 10 (10.10), analyzing its impact on market liquidity and trading infrastructure. He revisits key issues exposed by the event, including liquidation mechanisms, mark price accuracy, auto-deleveraging (ADL), and overall system stability, and introduces a series of upgrades and improvements Bybit implemented afterward across risk management, market surveillance, and core infrastructure.
Looking ahead to the coming year, Ben further outlines Bybit's product and strategic roadmap, including continued expansion of global compliance and licensing, enhancements to fiat on- and off-ramp and payment networks, the launch of retail banking accounts and more comprehensive wealth management offerings, the introduction of RWA-based yield solutions, and deeper integration of AI across trading, risk control, and user experience. Overall, Bybit aims to position itself as a long-term infrastructure builder, bridging traditional finance and crypto while improving global access to and efficiency of financial services.
Below is the transcript of Bybit CEO Ben's keynote. The audio transcription was generated by GPT and may contain inaccuracies; minor edits have been made for readability.
Timeline
00:00 Introduction and keynote opening
00:34 2025 crypto adoption trends and global market growth
01:57 Regulation, ETFs, stablecoins, and institutional adoption
03:40 Crypto as global financial infrastructure and inclusion tool
05:41 Bybit's vision: from exchange to financial platform
06:52 Compliance-first strategy and global licensing expansion
07:35 Building global fiat, card, and payment infrastructure
09:39 Bridging TradFi and crypto through RWA and custody solutions
12:51 Connecting crypto users with traditional markets (stocks, gold, forex)
14:00 Wealth management, Earn products, and private banking services
16:43 Launch of retail banking accounts ("MyBank by Bybit")
19:51 RWA strategy and tokenized asset outlook
20:41 Product simplification, user feedback, and app restructuring
24:51 AI-powered support, automation, and user experience upgrades
25:54 Advanced trading tools and execution infrastructure
30:11 Options market growth and institutional trading features
31:35 Market crash reflection and risk management improvements
34:19 2026 roadmap: payments, RWA, AI agents, and infrastructure
38:40 Corporate responsibility and global community initiatives
40:09 Tokenized stocks, DEXs, and future market structure
44:04 Closing remarks and long-term vision

In this episode, Tekin Salimi, founder of dao5, discusses his transition from traditional crypto venture capital to building dao5, a decentralized autonomous organization (DAO). He reflects on the challenges and opportunities in the crypto space, shares insights on DAOs, venture funding, and the intersection of blockchain technology with AI, and explores the evolving crypto ecosystem in the wake of 2024 market shifts.
Tekin Salimi outlines his journey from Polychain Capital to founding dao5 in 2022, where he focused on creating a unique investment fund model with a strong emphasis on adaptability. His approach in dao5 differs from traditional venture capital by prioritizing people and community formation within the decentralized framework. He delves into the market dynamics of altcoins, token distribution, and venture capital's shift toward decentralization. Tekin also highlights dao5's future governance model, where decisions will be gradually decentralized, but with a strong leadership core initially. The discussion touches on current challenges in meme coins, institutional adoption, and how the DAO model can address issues like liquidity, incentives, and governance in crypto. He concludes with thoughts on the long-term potential of decentralized AI and crypto integration.
Timeline:
00:00 Introduction and dao5 Overview
02:46 Key Differences Between dao5 and Traditional VC
04:29 dao5's Focus on People and Governance
06:33 Vertical Focus and Investment Strategy
08:54 Institutional Adoption vs. Crypto Native Innovation
10:45 Shifting Focus Toward Enterprise and Compliance
11:41 Performance of dao5's First Fund
13:47 Bittensor and dao5's Role as an Incubator
15:43 Blockchain and AI: Future Synergies
17:05 Shift in VC Return Expectations
18:50 The Meme Coin Dilemma for VCs
21:09 Transitioning to a DAO: Governance and Structure
23:53 Ensuring Balance Between Small and Large Stakeholders
26:30 Building Value-Aligned Community Participation
27:39 Handling Trust and Legal Risk with Pseudonymous Founders
28:55 The Future of Crypto VCs in a DAO-Driven World
30:40 Western vs. Eastern Crypto Ecosystems
32:18 Overcoming Gaps in Liquidity, Networks, and Regulation

In a January 31 AMA, CZ said Binance’s core strategy today is compliance, stability, and long-term survival, rather than rapid expansion or chasing every new trend. In the current regulatory and industry environment, he stressed that lasting longer matters more than growing bigger. Binance is prioritizing sustainability over short-term scale. Strong regulation, in his view, is a structural trend in crypto—not a temporary phase—and Binance’s approach is to adapt to regulation, not fight it, with different compliance strategies across jurisdictions.
CZ also said the get-rich-quick era is over. Crypto is no longer a market driven by fast money or short-term speculation. Strategies that relied on cycle timing and quick gains are fading, and the industry’s focus is shifting toward long-term building—core infrastructure, real demand, and applications that can operate within compliant frameworks.
On Binance Alpha, listings, and Meme Rush, CZ positioned Alpha as an ecosystem access layer, not an endorsement. He acknowledged execution issues with Meme Rush, while emphasizing that concerns from neutral users deserve serious attention. He reiterated that exchanges provide market access, not guaranteed returns, and that investment decisions remain the user’s responsibility.
From a market perspective, CZ took a more cautious stance on a near-term Bitcoin supercycle, expecting continued volatility. Long term, he remains bullish on Bitcoin and views it as superior to gold, though global consensus will take time to form. He also reaffirmed Binance’s 100% reserves and proof-of-reserves framework, noting that past stress tests have demonstrated the platform’s liquidity and asset safety.
CZ also addressed market criticism and community disputes around Binance, BNB, and BNB Chain. He denied claims that Binance or he personally manipulated the market or caused the October 11 sell-off, emphasizing that price movements were driven by macro factors and that no single entity can realistically control Bitcoin’s price.
Views related to the 10/10 incident reflect CZ’s personal opinion only. For the official report and broader perspectives, please refer to: Link
Timeline:
00:00:00 CZ's comment on Aster
00:00:46 Community raises concerns about FUD, listings, Alpha, and Meme Rush
00:04:32 Rebuttal of claims that Binance caused the October 10 market crash
00:04:32 Explanation of regulation, monitoring, and why manipulation claims are unrealistic
00:06:45 Response to accusations about personal wealth and asset dumping
00:18:20 System issues, compensation, and limits of technology during peak stress
00:13:17 Origins of FUD: competitors, paid “water army,” and emotional traders
00:18:34 Meme Rush rationale, implementation flaws, and listening to the silent majority
00:21:13 How FUD backfires by increasing Binance visibility and user loyalty
00:24:34 Personal responsibility as a core principle for traders
00:26:07 Outlook on Bitcoin super cycle becomes more cautious amid volatility
00:29:06 Bitcoin vs. gold: long-term superiority vs. short-term adoption reality
00:30:48 Role of AI in future trading, UX, research, and exchange operations
00:33:15 Proof of reserves, audits, and Binance’s handling of extreme withdrawals

At the 2026 Davos Forum's *New Era for Finance* roundtable, leading figures in the financial sector from various regions gathered to discuss how technological innovations are reshaping global finance, with a particular focus on the role of cryptocurrencies, blockchain, and artificial intelligence in payments and financial transactions. Below is an excerpt of Binance founder CZ's remarks.
CZ believes that while the payments sector still faces challenges, the integration of traditional payment methods with cryptocurrency will drive significant growth in the future. He also expressed concerns about the risks associated with Bitcoin payments, Memecoins, and traditional banks, citing their high levels of speculation and uncertainty. When discussing the need for a unified global regulatory framework, CZ noted the difficulty in implementing such a framework due to varying regulations across countries. He proposed the idea of a "regulatory passport," where a license obtained in one country would be recognized by others, offering a more feasible solution than creating a global regulatory body.
Text summary: Link
Timeline:
00:00 Differences between cryptocurrency and traditional financial regulation
03:12 CZ introduces the innovation prospects of cryptocurrency and blockchain
06:40 The future of Bitcoin payments
07:18 Thoughts on Memecoins and the Metaverse
08:22 CZ: Traditional banks will significantly reduce in the next decade
09:51 In-depth reflection on bank liquidity issues
10:52 Different responses of cryptocurrency and banking systems
12:29 Challenges of global regulatory frameworks and regulatory differences between countries
14:35 CZ suggests "regulatory passports" as a global regulatory solution

In this episode of ETHPanda, Tomasz Stanczak, Co-Executive Director of the Ethereum Foundation, shares his journey from traditional finance to Ethereum core development. He explains how he founded Nethermind from scratch and became a driving force behind the Ethereum core protocol. Tomasz discusses the challenges he faced, including resource constraints and fundraising. He also provides insight into the future direction of the Ethereum protocol, particularly the integration of Agentic AI with ETH, and how standards like ERC-8004 are driving the adoption of AI agents on Ethereum. Additionally, he covers the interoperability of Layer 2 solutions and the Ethereum community's development strategy.
Timeline:
00:00 Opening & Introduction
03:18 The path to Ethereum core development
05:18 The advantages and challenges of starting Nethermind without funding
09:23 The development of Nethermind
12:45 Key milestones for Nethermind
16:57 A piece of advice to my younger self
19:11 Ethereum Foundation's goals and challenges
22:22 Discussing Layer 2 interoperability
26:38 Ethereum's future community development strategy
33:29 The future of Ethereum and AI integration
39:27 Ethereum as an AI collaboration layer
42:34 How Agentic AI integrates with blockchain governance
50:09 How the Ethereum Foundation supports AI and ETH development
53:13 Contributions from China to Web3 and AI development