Binance CEO Changpeng Zhao(CZ) said in an interview that he could spend $1 billion on ecosystem investments.
CZ, the founder of global crypto exchange Binance, said he could increase his investments despite a long crypto winter. CZ has planned a $1 billion budget for what he calls the world’s largest crypto company. In addition, CZ said that he considers the safety of users as a priority.
Binance Develops Globally
The globally thriving Binance company has committed approximately $325 million in financing to 67 projects this year. It also provided $140 million in funding for 73 projects last year. Referring to the recent hacking events, Binance CEO CZ stated that his investors are safe.
Also notable as non-crypto investments were $200 million in funding for Forbes and $500 million in funding for Elon Musk’s Twitter deal. The popular stockbroker also made heavy investments in the BSC network.
Working on bankruptcies and frauds this year, CZ wanted to buy Voyager’s assets. However, his rival, FTX CEO Sam Bankman-Fried, prevailed in this race and became the new owner of Voyager. As such, Binance has not invested in any problematic crypto assets.
