Odaily News In response to the problem that Binance has recently listed coins too frequently and sent large-cap VC projects to the market in batches, resulting in the market liquidity being unable to bear, Binance co-founder He Yi responded that the cryptocurrency circle is a free market, and the liquidity and trading volume of various trading platforms are shared. Even if Binance does not list new projects, these projects will still exist, and funds will be diverted to the entire industry. In addition to the unlocking of VC-invested projects, Meme coins, chain-based dogs, wool-pulling, and capital disks will all be diverted. After the ETF is approved, the traditional financial market will also divert funds that flow directly to the cryptocurrency circle. At the same time, she said that some VCs are indeed the core reason for the inflated prices, but VCs generally raise funds from LPs for a 7-year lock-up period of 4+3, collecting management fees + dividends; VCs are generally unlocked one year after TGE (not all), so many cryptocurrency VCs are also closing down, and some VCs' LP investments in the cryptocurrency circle may also return to zero; and project parties that have received large amounts of financing have more possibilities to cross the bubble cycle, but the fundamentals of the coin price and governance model are determined by the project parties, and there is no standard answer. The rise of Defi has brought more liquidity to the industry and increased freedom. Finally, she also reminded everyone to do their own research (DYOR).