Hey good.

Good morning everyone.

Welcome to another Tech Check Plus.

CZ, welcome.

I'm thrilled that you are joining us day by Nance's CEO.

How are you?

Good.

Thanks for having me, dear Andre.

I'm guessing it's not as early where you are a little bit later in the day.

Yes, 4.30 p.m. in Dubai. Okay, there we go. So very early here. Hopefully you're winding down your day. So I'm so glad to have you on

this format as I was telling you at the live stream so whoever's watching to on

Twitter on YouTube I think we got to get these this chat enabled but write in with your

questions comments we'll get them to CZ. Let's start with the big news. You guys

your US arm just raised its first funding round at a valuation of four and a half

billion dollars CZ I want to ask you about this valuation your 24-hour trading

volume is about a third bigger than that of FTX yet you were valued it far less than that

crypto exchange. Why is that is that a binance issue? What the valuation what went into that? So I think this is the

first run of fundraising for binance US and so I think the valuation we always want to leave some value on the table for the investors so that we want there to be room for growth and we don't want to realize all the full value. And also, minus U.S. I think compared to FTXX is more heavily based in the U.S.

So they may, I don't know that that may be a premium but we actually don't don't really strive for full maximum

value on each race. Does any of that have to do with the sell-off that we have

seen in public markets? I mean coin base as you know well although I think in terms of at least

trading volume you're worth more but public markets have not been kind even to

...