Binance boss bullish despite crypto crash

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 52 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 24%
  • Publisher: 66%

PARIS: Cryptocurrencies are here to stay and their dramatic recent crash is just part of an economic cycle, Changpeng Zhao, one of crypto\u0027s most influential figures, told AFP in an interview on Thursday (Jun 16). The China-born Canadian entrepreneur heads Binance, the biggest exchange in the market that bo

Singapore Headlines News

Singapore Latest News, Singapore Headlines

PARIS: Cryptocurrencies are here to stay and their dramatic recent crash is just part of an economic cycle, Changpeng Zhao, one of crypto's most influential figures, told AFP in an interview on Thursday .

The unflappable mogul, who talked to AFP at the VivaTech conference in Paris, largely steers clear of the flashy displays of wealth associated with many crypto entrepreneurs. Zhao had earlier tweeted a similar jibe that many took to be directed at Coinbase, a US exchange that spent heavily on flashy ads but is now laying off hundreds of workers."BAD TOOL" FOR CRIMINALS

"Because of that, most criminals do not use blockchain for criminal activity. It's just a very bad tool.""The regulators don't know what to regulate," he said.He said it could take decades, pointing out that even now banks continued to face new regulations.Critics see crypto as a glorified ponzi scheme and believe the industry will not last for decades, but enthusiasts like Zhao are keen to compare it with the tech industry of the early 2000s.

Zhao lists what he sees as the"killer apps", which amount to facilitating fundraising for start-ups and generating income for artists.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crypto giant Binance hiring for 2,000 positions: CEOBENGALURU - Cryptocurrency exchange Binance has opened 2,000 positions for hiring, chief executive officer Zhao Changpeng said on Wednesday (June 15), a sharp contrast to a slew of job cuts by companies operating in the digital currency space. 'It was not easy saying no to Super Bowl ads, stadium naming rights, large sponsor deals a few months ago, but we...
Source: asiaonecom - 🏆 10. / 59 Read more »

Cryptocurrency exchange Binance: 2022 volumes so far similar to 2021's $34 trillionPARIS : Cryptocurrency exchange Binance's Chief Executive Officer, Changpeng Zhao, said on Thursday that volumes on the exchange so far in 2022 were similar to the $34 trillion it had in 2021.'So far this year, we are about the same,' he told the VivaTech conference in Paris, adding Binance traded around
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »


Source: BusinessTimes - 🏆 15. / 51 Read more »

Bitcoin eases from 18-month low as crypto market stabilisesLONDON/NEW YORK — Bitcoin recovered on Wednesday (June 15) after diving to an 18-month low, buoyed by the US Federal Reserve's tough stance on inflation even in the midst of a market meltdown this week after crypto lender Celsius froze customer withdrawals. The world's largest cryptocurrency fell as much as 7.8 per cent to US$20,079.72 (S$28,000), its lowest since December...
Source: asiaonecom - 🏆 10. / 59 Read more »

Crypto stock short sellers up about 126% this year - S3 PartnersShort sellers of crypto stocks have clocked about 126 per cent in mark-to-market gains this year, far outpacing those from other sectors, according to financial and analytics firm S3 Partners, amid a risk-off sentiment in the broader equities market.The downturn in the world's largest cryptocurrency, bitc
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

How crypto lender Celsius stumbled on risky bank-like investmentsCelsius Network, the retail crypto lending platform whose liquidity problems have sent cryptocurrencies plunging, stumbled on complex investments in the wholesale digital asset market in what analysts say was akin to a traditional bank run. Citing extreme market conditions, New Jersey-based Celsius this w
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »