Changpeng Zhao: The Industry Is Healthier Now


Changpeng Zhao, CEO of Binance, said that the sector is now healthier after a bad year.

Speaking at a Binance event in Athens, CZ made statements about the course of the crypto sector.

Changpeng Zhao is Hopeful for 2023

The CEO of Binance said the following at the event he attended:

“I would expect recovery. I think 2022 is a really bad year. A lot has happened in the last six months. Now the sector is healthier”

Zhao declined to make a prediction about the direction of the industry.
“The trick for us is to monitor the sector and then try to support it regardless of the emerging trend”

CZ, who launched a fund for cryptocurrency companies in distress, said harsh words about FTX:

“FTX is more like Madoff. He tells lies and is a ponzi. What FTX is going through doesn’t mean that all other jobs are bad.”

Binance introduced the proof of reserve system earlier in the day. Thus, Binance will be able to share a snapshot of Bitcoin reserves. The company has 582,485 BTC in reserve, while users have 575,742 Bitcoins.

CZ said Binance is in a solid position and aims to grow the Sunday rather than make money:

“We have enough income today. Our goal is not to maximize profits. We want to be sustainable.

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