Binance CEO evaluated the markets: “The contagious effect will continue”

Binance CEO evaluated the markets: “The contagious effect will continue”

Changpeng Zhao, CEO of Binance, the world’s largest cryptocurrency exchange in terms of trading volume, recently evaluated the current state of the crypto market in an interview with Bloomberg. Pointing out that the contagious effect created by the collapse of the crypto money exchange FTX, which filed for bankruptcy on November 11 following the allegations of using customer funds to support its sister company Alameda Research, and the crisis with Binance, Zhao pointed out that the general situation of the industry is still good. He added that it was.

Binance CEO stated that FTX suffered billions of dollars in losses, and that this had a negative impact on the crypto market and slowed down the development of the industry. Zhao also reiterated his confidence in the industry. In his interview, Zhao also mentioned his relations with the bankrupt crypto loan company Voyager Digital, and stated that they will submit a new offer for the assets of Voyager Digital.

Changpeng Zhao: “We have no ties to China”

On the other hand; Zhao also reiterated his emphasis that Binance is not a Chinese company. “Binance is not a Chinese company; We have no affiliation with China” The CEO said that because he looks like a Chinese, his company is also believed to be Chinese.

Zhao made a similar statement in early September and shared details of his personal and business history with China. Emphasizing that Binance is not a China-based platform in his statement, Zhao also underlined that the conspiracy theories that the platform is secretly managed by a Chinese person are unfounded.

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