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Li Hua Yi: Suggests that Zhao Changpeng provide better exit mechanisms for crypto VCs, as active capital is beneficial for industry innovation

By: rootdata|2026/03/10 21:44:58
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Liquid Capital founder Yi Lihua posted on platform X: "The biggest problem in the crypto industry in recent years is the decline of innovation, which stems from two aspects. First, the previous U.S. government's tightening of crypto policies, which should be resolved with the passage of the recent crypto infrastructure bill. Second, Binance's requirement for projects to adhere to a 1+3 year lock-up mechanism for crypto VCs.

I believe Binance's original intention is good, fostering a long-term investment mindset. However, the consequence of this mechanism is that project parties, market makers, and exchanges run away with liquidity first, while VCs face a long unlocking period that leads to zero. VCs originally bore the greatest risks in the primary market, yet they also have to bear the risk of exiting last, which is clearly contrary to traditional investment markets. The result of this is the collective demise of crypto VCs, making it difficult for quality entrepreneurs to secure funding and reducing industry innovation.

I suggest giving Zhao Changpeng a better exit mechanism for crypto VCs to activate VC capital, which will benefit industry innovation and also be more favorable for exchanges to list quality assets."

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