Kevin Lee

如果把資本市場比作從創新走向公共財富管理的高速公路，那麼私募是匝道，IPO 是關口，二級市場是主幹道。而 Pre-IPOs，就是那段過去經常缺失的連接路：讓企業更平穩地駛入公開市場，也讓更多投資者在尊重風險與規則的前提下，更早參與企業成長的中段紅利。

而 Gate 對這件事的態度很明確：我們不把 AI 當作錦上添花的玩具，而是當作下一代生產力底座來建設。基於這個不可逆的趨勢，同時也順應內部的主流共識，我們選擇全面擁抱 AI 與各類 vibe coding 工具，鼓勵同事持續突破邊界、推動創新，讓 AI 真正進入日常研發與業務迭代的主流程。

What stays behind isn't necessarily the coolest, but it must better deliver user value and be capable of self-repair in different environments. For Gate, the thirteenth anniversary is more like a review — we've experienced euphoria and weathered harsh winters; witnessed narrative rises and falls, and seen how risks can amplify in an instant. Being able to reach today isn't about luck, but about embedding long-termism into every detail of system stability, security risk control, compliance building, and service experience.

Traditional algorithmic trading is deterministic. Given the same inputs, rules, and parameters, the system theoretically makes identical decisions; behavior can be fully replayed and is easy to audit. AI agents are different—they rely on language models to understand information, evaluate situations, and generate action plans, a process that naturally carries a degree of uncertainty. Even when facing similar market conditions, they may produce slightly different judgments.

我的判斷是，未來每日活躍交易的 AI Agent 數量大概率會超過每日活躍人類交易者，而平台能否提供高質量資訊、穩定執行與嚴格治理，將決定這輪效率紅利能否真正落地。

不要讓情緒主導投資，看清歷史格局，才能安穩渡過高險時期。

我們正在進入新階段——加密市場與傳統金融更深融合，交易端出現更多可配置的風險來源（包括代幣化股票、代幣化商品、代幣化指數、甚至代幣化外匯）。當可投資集合擴大後，你沒有藉口不分散，反而應把分散化當成紀律：用少量倉位買入非對稱上行，用結構化配置控制回撤，用跨資產相關性管理真正的尾部風險。

低β值只是風險結構的描述，不是收益承諾。真正決定長期體驗的，是你把比特幣當作什麼——防守資產、風險資產，還是一種帶有強敘事波動的可選性資產。