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Changelly Interview with Changpeng Zhao, CEO Binance

Today Changelly has “Crypto Talk” with a very special guest. Please welcome Changpeng Zhao, best known as CZ Binance, CEO at Binance cryptocurrency exchange and a true crypto pioneer. He launched Binance almost two years ago, and at that time his ICO raised $15 million. To date, the company net worth is around 2 billion US dollars and keeps going up. Changelly CEO Eric Benz discussed with CZ the topical crypto issues, namely: key differences between stock and crypto exchanges, Binance DEX launch, AML/KYC issue, BSV delisting, living on crypto, advice for crypto entrepreneurs, and many more. Have a nice read!

Eric: Hello, CZ! Nice to have you at “Crypto Talks” with Changelly. You started your professional journey at Bloomberg. Taking into account your knowledge of both stock and crypto exchanges working and trading principles, could you please conclude what features of traditional exchanges that crypto exchanges are lacking, and, on the contrary, what advantages do crypto exchanges have over their “older brothers” stock exchanges?

CZ: Hello, Eric. Pleasure, thanks for having me. There are a number of great differences, and I don’t think I can list them all here, but on top of my head, here are a few:

From the system perspective, traditional exchanges only operates a few hours a day, you can do a lot of processing, upgrades, etc during the non-trading hours. With crypto, even when exchanges stop for a few minutes, it’s a big issue. Traditional exchanges only allow a few hundred brokers to connect, usually using dedicated lines. In effect, the exchange system is only servicing a couple hundred large clients.  With crypto, we have 10,000,000+ users connecting from 180 different countries, using the unreliable internet, or cell networks. Crypto is much more demanding from a system perspective. From the business perspective, in traditional markets, you have brokers and many layers of middle man, and easy asset is only tradable on a small number ...
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