WuBlockchain Podcast

On February 3, Ethereum co-founder Vitalik Buterin sat down with Michel Bauwens, founder of the P2P Foundation, at the ETHChiangmai Summit 2026 for a wide-ranging conversation on Web3, crypto, and new forms of social coordination.
Vitalik reflected on Ethereum's original vision and shared his concerns about the current state of the crypto space, arguing that technological progress must ultimately serve broader social and political goals. Beyond technical breakthroughs, he questioned how crypto can respond to a growing global crisis of trust.
Michel introduced the idea of "regenerative accelerationism," advocating for technology that actively supports sustainable social development, especially by connecting crypto with the real, productive economy. Together, they explored decentralized social models, the role of technology in enabling global collaboration and shared resources, and the challenges Web3 faces in moving beyond speculation toward deeper economic and social transformation.
Timeline:
00:00 Vitalik reflects on early Ethereum ideals and why a return to core values matters
03:53 The TRUMP memecoin moment and a broader identity crisis for crypto
06:38 Regenerative accelerationism and accelerating alternatives during global breakdown
10:28 Examples of crypto aligned with regenerative practice
15:25 Why users resist unfamiliar crypto mechanisms and default to ERC20 and dollars
17:43 Funding models in Web3 and NGOs, and why real-world practices stay marginal
20:00 Ethereum's next five years and a return to the original Web3 vision
24:21 DAO design trade-offs and over-optimization for legal safety
26:00 Rethinking finance, collusion, and limits of interoperability
29:35 Michel on P2P as a human system and global self-organization
32:07 AI as "stigmergy without humans" and the edge of a new civilization
33:34 Future expectations for 4seas, hackers, and the Chiang Mai ecosystem
34:12 From extractive to generative economies and contribution-based value creation

This episode of WuBlockchain Podcast explores the long-term evolution of Vietnam’s crypto market through the perspective of Thanh Le, CEO of G98 and Founder of Ninety Eight. Drawing on his experience since entering the industry in 2017, Thanh discusses how Vietnam’s crypto ecosystem has matured from an early high-risk phase into a highly active market shaped by retail participation, developer talent, and emerging regulation.
Ninety Eight builds practical Web3 products, including multi-chain wallets and DeFi tools, from Vietnam. Through G98, a joint venture with G-Group, these technologies are localized and deployed using domestic infrastructure to support digital-asset-related products and services in the Vietnamese market.
Timeline:
00:00 Opening & Guest Background: A long-term, on-ground perspective since entering the crypto industry in 2017
01:15 Evolution of Vietnam's crypto market: From widespread scams to recognition as a new asset class
03:21 Market size and activity: Vietnam's user base characterized by high ownership and high trading activity
07:19 User entry paths: Generational shifts from Bitcoin to GameFi, DeFi, and memecoins
10:16 User profiles and risk appetite: From CEX-dominated trading to a growing understanding of on-chain activity and strategy allocation
13:26 Regulatory environment: A conservative yet supportive policy stance and expectations around a 2025 inflection point
16:41 Shifts in asset and narrative preferences: A return to BTC and major assets alongside interest in emerging narratives
19:04 Cooling of Vietnam-based projects: The impact of the bear market, talent outflows, and regulatory uncertainty
22:58 Developer ecosystem and city distribution: A technical talent pool spanning both Solana and EVM ecosystems
26:18 Changes in the fundraising environment: From pro-cyclical fundraising in 2021 to a broadly tighter capital market
29:11 Vietnam's long-term advantages: Strong learning willingness, community mobilization, and talent supply

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