{"id":12144,"date":"2023-05-30T07:37:53","date_gmt":"2023-05-30T07:37:53","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=12144"},"modified":"2023-05-30T07:37:54","modified_gmt":"2023-05-30T07:37:54","slug":"binances-cz-dispels-fud-speculates-on-next-big-crypto-trend-in-new-interview","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=12144","title":{"rendered":"Binance&#8217;s CZ dispels FUD, speculates on next big crypto trend in new interview"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>Binance CEO Changpeng Zhao commented on the state of the crypto industry and market during an interview with Bankless on May 29.<\/p>\n<h2>Zhao dispels FUD<\/h2>\n<p>First, Zhao discussed recent controversies around his company. Binance has recently attempted to refute reports from Forbes, the Financial Times, and Reuters concerning matters such as its alleged misuse of funds and supposed ties to China.<\/p>\n<p>Zhao suggested that mainstream news sources tend to cover cryptocurrency negatively and that Binance specifically attracts FUD because of its large size. He said:<\/p>\n<p>\u201cIf you write a negative article about a smaller exchange nobody cares \u2026 but if \u2026 you put Binance\u2019s name in the title, and hopefully something negative, people click more.\u201d<\/p>\n<p>Zhao also posited that his ethnicity makes him a target. Zhao, though born in China, is a Canadian citizen. Though Binance itself was founded in China, it no longer operates in the country due to regulations and insists it has relocated Chinese staff.<\/p>\n<p>Zhao said that Binance aims to be transparent \u201cas transparent as possible\u201d in spite of FUD and said that Binance currently provides proof-of-reserve reports.<\/p>\n<p>He acknowledged that there are limits to transparency. He argued that if Binance were to disclose all of its own wallet addresses, it would reveal Binance\u2019s vendors and partners, thereby compromising privacy and security and affecting competition.<\/p>\n<h2>CZ on global regulations<\/h2>\n<p>Zhao said that Binance engages with global regulations. He once again said that regulators put Binance \u201cunder the microscope\u201d to a greater degree because of its size.<\/p>\n<p>However, he also suggested that the crypto sector is becoming less competitive and more cooperative when it comes to regulations. He said that companies like Coinbase and Kraken are working together with regulators, and he said that collective engagement can redistribute Binance\u2019s need to engage with regulators to other companies.<\/p>\n<p>More broadly, Zhao said that the Middle East and Europe are currently implementing the most promising crypto regulations. Zhao said in a previous AMA discussion that his company has a growing presence in the Middle East and North Africa (MENA).<\/p>\n<p>Zhao also noted that Binance at one point considered acquiring a bank but found that this would require extensive compliance with local regulations. He also said that banks are very expensive, carry high risk, and often are not very profitable.<\/p>\n<h2>Zhao on the state of the market<\/h2>\n<p>Zhao also commented on the current state of the cryptocurrency market. He said that the market is recovering from 2022\u2019s bear market. Zhao said that this gives the market a \u201cmixed mood\u201d as it is unclear what will drive \u201cexplosive growth\u201d in the future:<\/p>\n<p>What\u2019s going to drive the next [cycle]? \u2026 everyone\u2019s looking for that right now \u2026 and when we\u2019re not sure, this is probably why a lot of people pile into memecoins \u2026 it shows that there are funds\u00a0 that are ready to be deployed.<\/p>\n<p>Zhao acknowledged that he could be wrong about positive trends and later provided advice to investors who began to invest in crypto during a market downturn.<\/p>\n<p>He said that those who are investing during a bull market should only invest in what they feel comfortable losing and should not seek out overhyped investments. Zhao said that he \u201clearned this lesson the hard way\u201d when he first began to invest in stocks and crypto.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/binances-cz-dispels-fud-speculates-on-next-big-crypto-trend-in-new-interview\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance CEO Changpeng Zhao commented on the state of the crypto industry and market during an interview with Bankless on May 29. Zhao dispels FUD First, Zhao discussed recent controversies around his company. Binance has recently attempted to refute reports from Forbes, the Financial Times, and Reuters concerning matters such as its alleged misuse of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-12144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12144"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12144\/revisions"}],"predecessor-version":[{"id":12146,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12144\/revisions\/12146"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/12145"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}