Chief Executive Officer of Binance, Changpeng Zhao was interviewed on Bloomberg. Around 5:13 AM this morning, he informed his followers about the interview on twitter. His tweet read, “Have a live interview on Bloomberg in 15 minutes (12:30 HKT). Will last 6 minutes or so, should be interesting”.
Have a live interview on Bloomberg in 15 minutes (12:30 HKT). Will last 6 minutes or so, should be interesting.
— CZ Binance (@cz_binance) December 19, 2018
During the interview earlier today, he spoke about the developments in Bitcoin (BTC) and Binance. He also commented on the future of the crypto market. According to him, 2018 has been a challenging year for the industry. But, the year should be taken as a correction year. The Chinese-Canadian business executive, Zhao, also confirmed that expectations as still very high for the future of the industry.
Price Of Bitcoin
In the aspect of price, Zhao admits that speculators have shown great interest in the price of Bitcoin (BTC). But, the industry can only experience growth through application built. Thus, more emphasis should be placed on application building. Chief Executive Officer of Binance, Zhao, also affirmed that the fluctuation of Bitcoin (BTC) in 2017 was extreme. But, the currency has gone through a correction phase in 2018.
Zhao Calls For Clarity With Regulations
Binance Chief Executive Officer, Zhao, admitted that Binance still maintains its business strategy. Despite the launch of their new fiat exchanges and their decentralized exchange, the company is working hard. It’s still ensuring innovations and developments in place to move the company forward.
The business executive, also lauded the importance of government intervention in the industry. To him, government intervention will clear uncertainty in the industry. Zhao, went on to stress the importance of clarity and sensible regulations in the industry. This regulations should also aid innovations. The Chief Executive Officer went on to discuss the Know Your Customer (KYC) process for Binance. He stated that the rumor of money laundering on Binance is false.
Bearish Market Affecting My Net Worth – Zhao
During the interview, Zhao opened up concerning his net worth. He confirmed that his net worth has gone down because all his wealth is on crypto. I have been in this kind of situation before, he said. The Binance Chief Executive Officer believes the situation will turn around soonest.