Binance founder Changpeng Zhao, commonly known as CZ, spoke at the Ask Me Anything (AMA) session held on September 1. Accordingly, he discussed various aspects of the cryptocurrency market. CZ shared his views on market cycles and Binance’s user base. On the other hand, he debunked the rumors and expressed his vision for the future of cryptocurrencies.
Understanding Binance CEO and cryptocurrency market cycles
Binance CEO CZ started by highlighting the historical four-year cycle that the cryptocurrency market tends to follow. Many observers believe that the market is currently in a bear phase. However, the exact phase or bottom remains unclear. CZ emphasizes the importance of not waiting for the market to reach saturation and prices to skyrocket to make a decision. He emphasizes that opportunities exist even in bear markets.
CZ also points out some positive developments in the cryptocurrency industry. In particular, he cites increased regulatory involvement, which he sees as a positive sign for the industry’s growth. Binance is committed to advancing developments in this field.
Reaching the 150 million user milestone
CZ shared a major milestone during the AMA. Binance has now surpassed 150 million users. This success underlines the popularity of the platform and its central role in the cryptocurrency ecosystem. Referring to market rumors, CZ firmly denies the claims that “Binance sold Bitcoin to protect the BNB price.” He denies such actions taken by the exchange, explaining that he was not aware of these rumors until late.
On the other hand, the famous CEO also has opinions about decentralization and future trends. CZ touches on the role of Binance Coin (BNB) within the Binance ecosystem. He states that BNB is decentralized. He also emphasizes that he personally has no plans for BNB. Its primary focus revolves around regulatory issues for the centralized trading platform. Binance provides investment support by actively supporting projects in the BNB ecosystem. It also offers the opportunity to list on the Binance platform. CZ highlights the growing trend towards decentralization by citing projects like opBNB as exciting developments that reduce costs.
Cooperation with US regulatory agencies
CZ expresses hope of collaborating with U.S. regulatory agencies in the future to positively steer the cryptocurrency industry. It acknowledges that US institutions can access data from US trading platforms. On the other hand, it highlights their current uncertainty regarding cryptocurrency regulation. Binance CEO CZ emphasizes the importance of communication and collaboration to foster a more conducive environment for the industry.
When we look at it as Kriptokoin.com, in summary, the views of Binance CEO CZ point to the developing cryptocurrency market. He also highlights Binance’s impressive user base, explanations for market rumors. Accordingly, it sheds light on the increasing importance of decentralization and regulatory cooperation in the cryptocurrency field.
