According to CoinMeta, Binance founder CZ stated in an interview that in the early stages of the crypto industry, more participants were needed to jointly expand the market, and Binance welcomed the emergence of more decentralized exchanges. He believes that pioneers may not necessarily maintain their leading position in the long term, as second and third-generation products often further optimize upon the foundations laid by their predecessors. Regarding HYPE not yet being listed on Binance’s spot market, he mentioned that its previous methods of circulation and asset custody might not have met Binance’s requirements for controlling counterparty risks, but that these issues may have since changed.