CZ, founder and CEO of Binance, at the opening day of Web Summit 2022 explained that the US has the best bank support for crypto globally as banks allow citizens to buy crypto assets from their accounts. While a place like China has been hostile to the crypto world, leaving China in the early days of the development of Binance, seems to be a blessing in disguise for us.
The Binance CEO said that crypto had been the most stable asset in the tech world amid the current turmoil. For example, despite the impact of the bear market, Bitcoin has shown resilience in the last seven years, where its lowest price was $200 in 2015, $3,000 in 2018, and in 2022, it’s around $20,000.
I think it’s important to educate investors on how to manage risk in the Crypto market that was centered around Bitcoin in the 2014/2015 season, ICOs in 2027/2018, DeFi in 2020, NFTs in 2021, and metaverse, GameFi and more in 2022, CZ revealed. This year has also been more about lending, loan, and debts for most crypto activities.
Twitter is important for crypto
Talking about the trust level in the crypto world, CZ said, “trust is about choice.” He advised that users should always conduct research before investing or using any crypto product, including Binance. Users generally have not lost trust in the crypto market because we’ve seen a huge growth in the last few years.
CZ also explained that regulating the crypto space is another important aspect of what needs to be done right, and doing that should be about protecting consumers while encouraging innovation. However, several nations and regions in the world have their sentiments on what should be allowed and disallowed.
When quipped about his stand with Twitter by Katie Prescott, technology business editor at Times, CZ replied that he supports freedom of speech and freedom to make money, and since Twitter seems to be the best option for freedom of speech globally, I support the platform. It has helped the crypto community to grow immensely, although not all innovations that will be added by Elon Musk will be successful, he added.
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