The CEO of Binance presented some thoughts on the effects of the crypto market an area or arena, online or offline, in which commercial dealings are conducted. crash, and asserted that the sell offers seen in the news usually hit the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. he runs first.
- According to Zhao, Binance will not support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. companies that are poorly managed.
- Binance is in talks with more than 50 companies requesting financial support.
- The exchange is not competing with FTX, both do what they can to support the ecosystem.
Changpeng Zhao (CZ), CEO de Binance, indicated that there are currently many offers to acquire or ancillary crypto companies in the wake of the market crash, and claimed that “not every project is worth saving”.
“Not every project is worth saving.”
This was stated by Zhao in an interview conducted by Bankless, in which Zhao presented some perspectives on the effects of the market downturn, assuring that FTX is not the only exchange that has received offers from companies that are going through a bad time.
“The same offers you see in the news usually come to us first. Not every project is worth bailing out… We don’t want to bail out companies that are mismanaged. We want to help the majority of companies that have a bit a bit is a basic unit of information in computing. of a liquidity how easily a cryptocurrency can be bought and sold without impacting the overall market price. shortage to get through this cycle, [currently] we’re talking to over 50.”
On the apparent competition that exists between FTX y Binance in terms of acquisition/backing of companies, Zhao clarified that this is not a scenario of “ us vs. them “, por lo que ambas plataformas están centradas en hacer lo que pueden para apoyar al ecosistema.
Regarding the latter, Zhao said that FTX has a greater presence within the U.S., so they can focus on supporting U.S.-based entities operating within the country, while Binance tienen un alcance mucho más internacional, cosa que le permitiría centrar su apoyo en otras latitudes.
Binance is doing well despite the bear someone who believes that prices in a given market will decline over an extended period. Such a person might be referred to as “bearish.” market
On the current state of Binance Faced with the market downturn, Zhao said that the exchange has adequately prepared for such a situation, so they have a fairly abundant amount of reserves to continue its expansion process and continue its activities as normal.
In this regard, the CEO of Binance said the exchange understands the cyclical nature of the markets and manages large cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. reserves, so it will take the opportunity to add more talent to its team and consolidate its position within the sector.
He also added that Binance has more than 2,000 job openings for new members, he added:
“We want to get to about 8,000 people by the end of the year… I want to retire, sooner or later. I’ve been CEO of Binance for five years, and I don’t think a CEO should stay in this position for more than 10 years.”
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Version by Angel Di Matteo / DiarioBitcoin
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