Binance CEO, the world’s largest crypto currency exchange, answered a follower’s question on the protection strategy of inflation.
Interesting Gold and Bitcoin Interpretation from CZ that does not hold cash
Binance CEO Changpeng Zhao (CZ) founded Binance in 2017 and raised the daily transaction volume to over 20 billion dollars. Zhao, an enthusiastic Bitcoin enthusiast, accumulated a fortune in the crypto currency. However, most of the Net Leveta, which exceeds $ 15 billion, stems from their assets in Binance Holdings Ltd. CZ, a follower on Twitter “Will you diversify your cash assets to metals such as gold to protect against dollar devaluation?” He repeated his answer to his question before. CZ said that he did not have any cash money in any foreign currency. In addition, CZ, Gold, such as precious metals, said he did not prefer. As a reason for this, he said that he traveled a lot and that precious metals were very heavy.
https://twitter.com/cz_binance/status/163918678769989632
In addition, Changpeng Zhao also made an interesting comment on a tweet made by a follower of gold and Bitcoin. Follower, Kriptokoin.comreferring to the bank crisis in the US and Europe you follow from the USA and said that gold and Bitcoin rise during the crisis. In a way, he stressed that gold and BTC is a good protection. CZ emphasized the sector and claimed that it was greater than the BTC. In the meantime, we know that Bitcoin and Binance, one of the previous statements of CZ, have Binance Coin (BNB), the local tokene.
CZ’s career and the establishment of the Binance Exchange
After graduating from McGill, Changpeng Zhao started to work in a contractor for the Tokyo Stock Exchange. Then, from 2001 to 2005, he became the Head of Futures Development of Trade Transactions at Bloomberg Professional Services. Eventually, he joined some of his friends to establish an information technology (CT) consulting company and moved to Singapore to start Fusion Systems.
Zhao has also launched several more initiatives, including the cloud -based services provider for stock exchanges, including Bijie Tech. As the business was growing, China began to take harsh measures to crypto currency exchanges in March 2017, and Zhao thought of establishing its own crypto currency exchange. Binance was released in July 2017, but China banned all crypto exchanges in September 2017. Zhao had to change its location, but instead of finding another country to operate, the company completely moved away.
Binance quickly became one of the largest crypto exchanges compared to the daily trade volume. It currently operates worldwide with a spot transaction volume exceeding $ 10 billion and exceeding $ 50 billion. Zhao, the majority shareholder of Binance Holdings, has seen a clear balloon since then and reached a summit of approximately 100 billion dollars at the summit of the crypto bull run in 2021.
