Changpeng Zhao (CZ) is the founder and CEO of the world’s leading crypto exchange firm by trading volume, Binance. In truth, the exchange needs no introduction in the crypto space. Before the last cryptocurrency crash, CEO Zhao granted an exclusive interview to The Street. During the interview, he illuminated many issues affecting cryptocurrency.
Binance: One of the Biggest Exchanges
Zhao notes that people perceive Binance as one of the biggest in the market, adding that they are still building the exchange. Additionally, Zhao discloses that they plan to be an infrastructure service provider for the entire industry. To this end, the former OKCoin staffer discloses that they have some ideas in that regard.
Considering traditional markets, the Binance boss indicates that cryptocurrency exchanges are nothing compared to the traditional markets. He boasted that they have clawed their way back to the top, adding that they won’t rest on their laurels. Right now, Zhao says, they are planning to build the ecosystem for the future.
The cryptocurrency assessment in 2018
On his assessment of cryptocurrency industry in 2018, Zhao was bullish. In his take, the billionaire chief executive said that it is a “build year.” Giving an answer that may seem surprising to many investors, Zhao notes that he is satisfied with the industry performance this year.
Similarly, he admitted that if the market bear did not happen Binance would have had a hard time dealing with the high cryptocurrency trading volume. Asked his opinion on the much-anticipated institutional investors, Zhao observes that more institutional funds will come from the United States. Although, unlike the United States, there is faster cryptocurrency adoption in Europe due to stringent regulations.
Plans for Binance
At this point, the focus of the interview moved from his perspective on the general industry to his cryptocurrency exchange. He appeared reluctant to disclose the details of their operations at Binance. Nonetheless, Zhao states that the company’s strategies are always on a short-term basis. He made it clear that Binance sometimes has two weeks plan.
On the future he envisions for Binance, Zhao pointed out that he wants cryptocurrency enthusiasts to see the exchange as a verb. Explaining further, he presented an analogy with internet giant Google. Zhao observed that Google is a company that metamorphosed into a verb. He gave an example with a sentence, “I google something.”
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