China Renaissance, a prominent investment bank known for orchestrating major mergers like Didi and Kuaidi, is making a significant move into the Web3 space. Since its founding in 2005, the firm has played a pivotal role in reshaping industry landscapes through strategic mergers and acquisitions. Now, in the post-Bao Fan era, China Renaissance is embracing the transformative potential of Web3 technologies. Web3 represents a fundamental shift from traditional financial models, emphasizing decentralization, permissionless systems, and community governance. These principles challenge the intermediary role that investment banks like China Renaissance have traditionally held. As the firm navigates this new landscape, it aims to leverage its expertise to capitalize on the opportunities presented by this emerging sector.