Looking back at the cryptocurrency ecosystem in 2017, there's an interesting case worth discussing. At that time, although Binance had ample funds, the founder still decided to launch an ICO project. What was the logic behind this decision?

Back then, NEO was a well-established project with considerable popularity in the community. The Binance team often participated in various activities within the NEO ecosystem, and even used the other party's venue to promote their exchange. During this period of frequent interactions, Binance turned around and launched an ICO plan, issuing the BNB token.

The founder later admitted— it wasn't because they lacked funds that they did the ICO. The real reason was that the team had thorough discussions and believed that the timing and strategic direction were right. What does this case illustrate? Fundraising decisions are often influenced not just by the funding gap, but also by deeper factors such as ecosystem layout, community building, and product innovation. The birth of BNB is also a product of this way of thinking.