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Binance's Zhao Changpeng looks back on a post from six years ago: The team that once aimed to raise $100 million now has a market value of less than $1 million.

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Six years ago, in 2017, was the heyday of Initial Coin Offerings (ICOs) when startups in the crypto community raised significant funds and quickly went public by issuing new tokens, creating wealth opportunities as well as various chaos. At that time, Binance founder Changpeng Zhao (CZ) published an article titled "I Don't Like Big ICOs" on the content-sharing platform Steemit, and he revisited this article once again.

Binance's Zhao Changpeng: Startups Should Start Small and Grow Strong

The content of "I Don't Like Big ICOs" primarily discusses Zhao Changpeng (CZ)'s views on the fundraising methods that cryptocurrency startups should consider, and the drawbacks of raising a large amount of capital through ICOs from the beginning.

He believes that while there are many advantages to cryptocurrency startups attempting to raise a huge amount of capital from the start, such as visibility and financial needs, these startups must consider if they truly need that much money and if they need it "right now."

Once a large amount of capital is quickly obtained, will there still be the drive to move towards the entrepreneurial goals? While large ICOs may achieve the highest value during fundraising, they may gradually decline after listing. Is this a desirable outcome? These are actually the long-term negative impacts of large ICOs.

Zhao Changpeng CZ cited an example in the article of a startup that attempted to raise $100 million, but now has a market value of less than $1 million, which is very unfortunate.

"Start small, grow strong, rather than going against the tide," he said.