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January 31, 2024

“Behind every stock is a company. Find out what it’s doing.”

- Peter Lynch

Howdy, investors!

Binance has undergone a major shakeup now that founder CZ is out. With Richard Teng now at the helm, our question was: who is this guy?

Are you ready for the next wave of spot ETFs focused on Ethereum? If one analyst is right, the runup to a May approval could take ETH to $4,000.

Vitalik Buterin examines the convergence of blockchain and AI, seeing many use cases and benefits of combining these technologies.

Fast Company's Leslie Feinzaig delves into Chris Dixon's book "Read Write Own," which is getting tremendous buzz.

Read on!

The Future of Binance Under Richard Teng

by Anatol Antonovici

After losing their founder and CEO and paying the largest fine in crypto history, Binance has started a new chapter of operations. But what does this mean for Binance investors, especially as founder CZ has been replaced with the relatively unknown Richard Teng?

In our view, Binance is at an inflection point similar to that faced by Uber when its controversial founder, Travis Kalanick, left the firm to be replaced by the more “grown-up” CEO, Dara Khosrowshahi. As we'll unpack below, he was the right CEO at the right time.

This is our research on the present and future of Binance, the ripple effect of the change in leadership, and what that might mean for long-term BNB investors and enthusiasts alike.

In its early days under founder Travis Kalanick, Uber was a brazen disrupter, cutting corners, playing fast and loose with the rules, and clashing with regulators to overthrow the legacy taxi industry.

Kalanick was a fan of aggressive expansion, legal battles, and a cutthroat “win at all costs” mentality. Success was the goal, even if it meant bending the rules, pushing employees, or facing scandals.

The rapid growth came at the price of a toxic culture marred by accusations of sexism, sexual harassment, and unethical practices. (There’s even a Wikipedia page on Uber controversies.)

Read on to learn what this means for the future of Binance >>

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Must Read

Today's most important stories for crypto investors.

SEC Likely to Approve Spot Ethereum ETFs on May 23 (The Block)

Standard Chartered Bank expects the SEC to approve pending applications for Ethereum U.S. spot ETFs on May 23. They also predict Ethereum's price could reach as high as $4,000 leading up to this approval. Time to load up on ETH?

The Promise and Challenges of Crypto + AI (Vitalik Buterin)

One of the brightest minds in crypto weighs in on his thoughts about the intersection of AI and crypto. If you agree with the founder of Ethereum, consider adding some AI investments to your Blockchain Believers Portfolio.

How Blockchains Could Save the Internet (Fast Company)

Fast Company delves into Chris Dixon's book "Read Write Own," which posits blockchain as a crucial evolution for a more decentralized and equitable internet. The book is getting rave reviews for its optimistic tone and ease of reading.

Chart of the Day

While fees and revenues are important, one of the best metrics for blockchain growth is Daily Active Users (DAUs)

While fees and revenues are essential, one of the best metrics for blockchain growth is Daily Active Users (DAUs), especially in the new world of Layer-2s.

While Arbitrum and Optimism (OP Mainnet) have gotten the most attention, the relatively new zkSync Era L2 has rapidly overtaken both in terms of DAUs.

While there's no token YET for zkSync Era, it is widely expected that a token will be launched with the ticker ZKS and that blockchain users could be eligible for an airdrop once the token launches. If you're conducting Ethereum transactions, consider using zkSync Era to be eligible for a potential airdrop.

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