LBank will leverage its forward-looking vision, deeply engage in technological innovation, and build a comprehensive ecosystem to create a holistic and highly adaptable digital asset trading experience for users at different levels.
Sixteen years ago, a 9-page white paper sparked a financial revolution. From the rise of centralized exchanges to DeFi Summer, from the bull market frenzy of 2021 to the darkest moments of 2022, each rise and fall has reshaped the boundaries of industry development.
In 2024, with the advent of Bitcoin ETFs, traditional institutional capital influx, and new Bitcoin highs, market liquidity has reached new heights, and the Meme super cycle has arrived. This once-untamed industry is gradually maturing. Amid this wave of industry development, the globally leading crypto trading platform LBank has also achieved leapfrog growth, surpassing 15 million registered users globally, with innovative trading solutions helping users achieve an average return of over 130% upon new asset listings.
Recently, LBank, in collaboration with several leading Chinese media outlets, held an X Space themed "Leverage Points in the Crypto World: Unlocking LBank's Highlights in 2024." Community angel officer and risk control advisor Eric He shared the platform's development journey and future plans with community members during the Space.
Behind the Achievements: User-Driven Value Innovation
2024 is a pivotal year for LBank. LBank has accurately grasped the market pulse and found the best leverage point: making innovation and user value the core of development. Eric He candidly stated, "Users are our core; investing in the Meme track is both a user preference and a historical choice. This choice has allowed users to stand with us, becoming a milestone for LBank."
Moreover, this user-centric strategy has led to significant growth for the platform:
The user base surged from 10 million to 15 million within 120 days;
A report released by 0xscope in October shows that as of October 2024, LBank's spot trading volume market share has reached 3.04%, ranking in the top 12 globally.
The average daily trading volume in the spot market exceeded $2.7 billion, while the average daily trading volume in the derivatives market surpassed $67 billion;
In the third quarter, LBank brought users an average return of 130% through precise asset allocation;
Behind these achievements is LBank's profound understanding of the market and firm choices. "Returning to our original intention, allowing more users to experience the wealth effect and achieve wild growth amid the bubble," Eric said. This year, LBank not only achieved leapfrog growth in business scale but, more importantly, established its development path: LBank does not seek to become the largest trading platform in the market but focuses more on providing interesting experiences and innovative services for users, allowing every user to gain real value on the platform.
The Memecoin Phenomenon: Breaking Traditional Investment Philosophy
In 2024, LBank launched a new slogan, "Discover the Era of Meme Legends," embarking on a new journey. Behind this is the platform's precise grasp of market trends. Eric He’s unique insight on Memecoins—"Value investing is a regression for the industry; high valuations are, to some extent, the industry's arrogance and prejudice"—reveals the essence of innovation in the crypto market. In his view, Memecoins break traditional investment barriers, providing equal opportunities for all participants. Although this is a high-risk track, as he said, "This could nurture the next BTC or DOGE." It is this possibility that constitutes the eternal charm of the crypto market.
In terms of layout in the Meme track, LBank has demonstrated exceptional foresight. As early as July 2023, the platform established a $10 million MEME special fund, laying the foundation for future development. Through precise listing strategies, LBank successfully launched nearly 300 high-potential Meme assets, yielding remarkable results: over 40 projects saw increases of over 500%, with the inaugural project MOODENG increasing by 61 times, and GOAT and PNUT achieving astonishing increases of 299 times and 81 times, respectively.
LBank's Meme layout not only focuses on investment returns but also emphasizes ecological construction and social responsibility. The platform actively collaborates with projects like SLERF for charitable initiatives and has formed strategic partnerships with industry-leading projects like GMGN.AI to jointly promote the sustainable development of the Meme ecosystem. This multidimensional layout strategy has established LBank with a unique competitive advantage in the Meme track.
Breaking the Ceiling: Eric He’s Management Philosophy
When discussing deep engagement in the industry, Eric He’s focus stems from his love for the crypto industry and his firm belief in blockchain technology's potential to change the world. As a practitioner with a technical background, he believes that Bitcoin-centric crypto technology, from the perspective of financial history, will become a new driving force for human technological development, akin to bonds and stocks.
In 2024, Eric He transitioned from CEO to community angel officer and risk control advisor. This shift stemmed from his profound insight into the essence of the crypto industry: decentralization is not just a technical characteristic but a key pathway to achieving fairness, transparency, and permissionless access. "As CEO, I was once the center of decision-making, the brain of the company. But the birth of cryptocurrency was meant to disrupt the shackles of traditional finance and dance on the ceiling," he firmly believes that in a decentralized industry, the platform's development should not rely on individuals but should be based on collective wisdom and innovative power.
For him, this transition is not just an adjustment of identity but an evolution of thought. He re-evaluated the direction of exchange development and actively broke through LBank's "ceiling." In his new role, he focuses on experiencing various products, studying industry trends, managing risk thresholds, and ensuring the exchange operates safely amid innovation. This shift in management philosophy has injected new development momentum into LBank, presenting a stronger growth trend and fully preparing for future challenges and opportunities.
Safety as the Operational Cornerstone
Having experienced industry turmoil such as Mt. Gox, FTX, and LUNA, Eric He has always prioritized safety, viewing user asset security as the lifeline of the platform's development, implementing the most resolute investment strategies in security protection.
With over a million dollars invested in security each month, the strategy encompasses a comprehensive layout from team building to technical protection. LBank has assembled a strong security team that continuously conducts internal attack and defense drills while involving external white-hat hackers in testing, constantly strengthening various aspects such as server protection. By introducing and integrating advanced security strategies available in the market, LBank has gradually transformed itself into a fortress-like exchange.
This continuous investment strategy has yielded significant results. Data from 2024 shows that the platform has successfully prevented potential user losses of $1.2 billion and intercepted approximately $540 million in suspicious withdrawals. As Eric stated, "Only time can prove whether a platform is safe." After nine years of deep cultivation, LBank has validated its firm commitment to user asset security through actions and time.
Insights for 2025: Seizing New Opportunities and Deepening Global Layout
Eric He holds a cautiously optimistic view of the crypto market in 2025. He pointed out that this bull market is fundamentally different from previous ones: funds are primarily injected through ETFs and the stock market, with most of these funds circulating among leading cryptocurrencies and not fully penetrating the secondary crypto market. This pattern presents both challenges and opportunities.
Regarding the future market, he believes several aspects need attention. First is the rationality of project valuations; he noted that the current crypto industry is still in its early stages, yet many projects' valuations have far exceeded those of mature sectors like AI and Web2, which is a valuation bubble worth monitoring. Second is innovation capability, as only continuous innovation can define new development directions. Additionally, he emphasized the importance of compliance, believing it will become a key catalyst for industry development. Finally, the wealth effect is crucial; if the wealth effect is limited to the leading cryptocurrencies covered by ETFs, it may restrict the sustainability of this bull market. Therefore, he looks forward to seeing more fair, undervalued, and well-narrated innovative projects emerge.
Based on this judgment, LBank will continue to optimize trading depth to uncover high-quality assets with potential for users. At the same time, the platform is accelerating its global compliance layout, having already obtained licenses such as the US MSB, Canadian MSB, Italian VASP, Australian DCEP, and Alabama MTL, laying a solid foundation for future development.
Eric believes the key to the market lies in the wealth effect; only when the wealth effect is significant will it attract continuous inflow of external funds. Therefore, LBank will continue to adhere to innovation-driven strategies, helping more users seize market opportunities while maintaining the industry's essence of fairness, transparency, and permissionless access.
Conclusion
The crypto world is ever-changing; only by adhering to the core values of openness, transparency, and fairness can a platform survive and grow amid changes. LBank will leverage its forward-looking vision, deeply engage in technological innovation, and build a comprehensive ecosystem to create a holistic and highly adaptable digital asset trading experience for users at different levels. On this path, we will always insist on balancing innovation and security, promoting healthy industry development, and creating lasting value for users.
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