Sunday, June 23, 2024

Cryptocurrency Is the ‘Only Stable Thing,’ Says Binance CEO, Amid Financial Turmoil.

Speaking on stage at the Web Summit in Lisbon, Zhao claimed that while cryptocurrency prices are erratic, “if you look at the technology, if you look at the fundamentals of cryptocurrencies, limited supply, nothing has changed.”

In light of Binance’s efforts to obtain licenses in nations including France, Spain, Bahrain, and Abu Dhabi, Zhao also spoke on the current state of cryptocurrency regulation. The “clever” authorities in those regions, CZ continued, “Actually, the U.S. regulators are pretty decent,” highlighting the country’s level of financial backing for cryptocurrency exchanges.

He claimed that U.S.-based cryptocurrency exchanges employ the automated clearing house protocol, which “may automatically and without user input take money out of the user’s bank account each month. We don’t yet receive the same amount of banking support that exists in other regions of the world.”

Elon Musk, he said, “is probably a really hard guy for me to forecast,” adding that he had only just learned of Musk’s proposal to charge $8 per month for Twitter verification when you had.

While stating that “Not all of them will stay,” Zhao continued, “I firmly expect that with Elon in charge, the speed of new features rolling out will be much, much faster.”

He declared, “I’d say probably most of them won’t stick.” But by creating a lot of new features, you can identify the remaining 10% of features that will endure. 

Zhao asserted that Binance’s $500 million investment in Elon Musk’s takeover of the social media platform Twitter was made in the interest of free speech.

“He continued, saying that Binance’s objective is to “help to increase the freedom of money,” adding that “we want to be extremely supportive of free speech.” Free speech also comes before financial independence.”

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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