[CZ Discusses the 'Four No's' Investment Principles: No Stocks, No Real Estate Speculation, No Crypto Trading, No Excess Cash] BlockBeats News, September 1: Binance founder CZ recently attended Bitcoin Asia 2026 in Hong Kong and gave an exclusive interview to *HK01*, reflecting on his personal journey and investment philosophy. CZ was born in rural Jiangsu and immigrated to Canada at the age of 12. He worked at McDonald's and a gas station in Vancouver before studying computer science at McGill University. He later worked in financial technology in Tokyo and New York. By the age of 25, he was leading a team of about 60 people at Bloomberg, earning an annual salary of $390,000. In 2005, CZ moved to Shanghai to start a financial technology company, but after eight years, he left with his equity reduced to zero. After being introduced to Bitcoin in 2013, he sold his property in Shanghai and invested the funds into Bitcoin. The price of Bitcoin subsequently dropped by about two-thirds and remained stagnant for approximately a year and a half. In 2017, CZ founded Binance, raising $15 million through an ICO. On the first day of the platform token's launch, its price dropped by 40%. However, Binance became the world's largest cryptocurrency exchange by trading volume within about five months of its establishment. CZ stated that the majority of his personal assets are currently in cryptocurrency. He adheres to the 'Four No's' investment principles: no stocks, no real estate speculation, no crypto trading, and no holding excessive cash. Notably, 'no crypto trading' does not mean he does not hold cryptocurrencies; rather, it means he avoids short-term trading. His strategy is primarily long-term holding, selling only small amounts of assets when necessary for expenses. Regarding real estate, CZ believes that the time required for buying, transferring ownership, and selling is not worth the opportunity cost. As for stocks, he mentioned that given the large scale of his assets, allocating a small portion to stocks is not meaningful. He also stated that holding fiat currency is 'the dumbest investment strategy' because cash continuously depreciates in value. Therefore, he only keeps enough cash for daily needs and converts it when necessary for expenses. He also shared his decision-making framework: decisions with significant and irreversible impacts should be made slowly, while decisions with minor and reversible impacts can be made quickly and adjusted continuously. CZ revealed that he currently invests in early-stage projects primarily through YZiLabs and continues to inject funds during market downturns. Over the past six months, YZiLabs has invested in nearly 200 projects, with approximately 80% focused on Web3 and 20% in the AI sector. He believes these investments could yield good returns in the next one to two years. [Original Article Link]