$3.61 25.56%
EOS · 1w

Changpeng Zhao Says His Exchange Can Survive Any Bear Market

Changpeng Zhao, CEO of Binance has said that the exchange can weather any bear market during a periscope AMA yesterday.

Changpeng Zhao, crypto billionaire and CEO of Binance, the world’s largest crypto exchange is confident in his business. Whilst speaking as part of an ask-me-anything (AMA) session on periscope yesterday, Zhao coolly stated that his exchange could survive any bear market.

Zhao – or CZ as he often goes by – also briefly discussed Ripple’s xRapid product, saying that in future he would “definitely” like to see a partnership with the firm.

Binance: 10, 50, 100 Years

CZ laid out his vision of Binance following a question about whether the exchange can survive another year of bear market. His laid-back nature conveyed the fact he has his eyes are firmly on the bigger picture.

He explained that he and his team do not pay too much attention to daily price changes, but rather keep their heads down and work on creating a product which adds value.

“Binance is ready to survive any number of years, no matter if it’s bear or bull. We basically don’t really look at the market too much – not as much as people actually think we do. We just keep our heads down and build features.” “Binance is very healthy financially and also very stable in terms of the team. Our aim is much longer than another year. Our aim is 10, 50, 100 years. So, we’ll be here for a while.”

In line with his view on the bigger picture, Zhao also said that he does not consider Binance “successful”. In an industry which is still in its infancy, he sees the real success as yet to come.

“For Binance, our achievements and success so far are just – I hope – at the beginning, so I don’t view Binance as hugely successful. I think as an industry and as a company or as a team, we’re still very small and we’re still very young. So, there’s still a lot of work to do.” xRapid Partnership

CZ also commented on xRapid. xRapid is a cross-border payments ...

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