At the Bitcoin Asia 2025 conference, Binance CEO Zhao Changpeng (CZ) discussed the evolution of the Bitcoin industry from its early days in 2013 to its current institutional adoption. He identified capacity as a core bottleneck in scaling. CZ emphasized the positive impact of traditional finance and national involvement, which bring capital, credibility, and regulatory clarity to the industry, noting the U.S. as a leader in regulatory openness. CZ expressed optimism about Decentralized Autonomous Trusts (DATs) introducing stock market funds into the crypto market, while cautioning about management deficiencies and cyclical volatility. He also highlighted the potential of Real World Assets (RWA) and AI in driving new industry momentum, with AI's programmable trading expected to generate significant new trading demand.