Binance CEO: Crypto Is The ‘Only Thing Stable’ In This Financial Turmoil
Changpeng Zhao, CEO of one of the biggest crypto exchanges Binance, recently voiced his opinions on the Web Summit stage regarding his views of cryptocurrencies, regulations, and the current crypto market.
Stability In Crypto
Zhao, often known as CZ, argued at the Web Summit in Lisbon that despite the crypto markets current volatility, crypto in general is still rather stable, arguably even “the only stable thing in this very dynamic environment.“
“Crypto is probably the only stable thing in this very dynamic environment. Prices are volatile, but if you look at the technology, if you look at the fundamentals of cryptocurrencies – limited supply, nothing’s changed. It has been the most stable thing technology-wise in this whole turmoil situation.” CZ stated.
— Web Summit (@WebSummit) November 1, 2022
Regulations To Help Crypto Grow
Aside from that, CZ also made some statements predicting the future of the crypto market. The CEO claims that in the near future, clear and better crypto regulations are the main things needed to help drive global crypto adoption.
“I do believe that having regulatory clarity will actually ease adoption. There is a group of guys who got into crypto early, many of them may be libertarians, anarchists etc. They hate any kind of regulation.“
“But I think for the mainstream users, the rest of the 90% or 95% of the users that are still not in crypto yet, having regulation will actually ease them into crypto.” CZ explains.
CZ then goes on to further explain that although having ‘clear regulations’ is the main goal for crypto, it’s important to note that the regulations made will be ones that will help drive the crypto space further.
He states, “Regulatory clarity definitely helps. But it’s not to say that all regulations could be good. We have to look at the specific regulation. For example, we’ve seen in other countries where they have a clear ban on crypto. That’s one type of regulation that’s clearly not good…“