Svmuu News: Yi Lihua, founder of Liquid Capital, posted on the X platform, stating: "The biggest issue in the crypto industry in recent years is the decline in innovation. The root of this problem stems from two aspects. First, the tightening of crypto policies by the previous US administration, which should be resolved with the passage of the recent crypto structural bill. Second, Binance's requirement for projects to have a 1+3 year lock-up mechanism for crypto VCs. I believe Binance's original intention was good, aiming to foster long-term investment thinking. However, the consequence of this mechanism now is that project teams, market makers, and exchange liquidity exit first, while VCs face zero returns during the prolonged unlocking period. VCs, who already bear the greatest risks in the primary market, also have to bear the risk of the latest exit, which clearly contradicts traditional investment markets. The result of this is the collective demise of crypto VCs, making it difficult for high-quality entrepreneurs to secure funding, leading to reduced industry innovation. I have a suggestion for CZ: provide a better exit mechanism for crypto VCs to activate VC capital. This will benefit industry innovation and also be more conducive to exchanges listing high-quality assets."