Changpeng Zhao said he did not understand meme-coins

Changpeng Zhao said he did not understand meme-coins

Changpeng Zhao (CZ), head of the cryptocurrency exchange Binance, said during the Twitter Spaces conference that he “never understood meme tokens.

If a coin has many holders and generates interest, Binance is more likely to pour over it, Zhao said.

We are partly looking at assets from the user’s point of view. But I am not personally involved in the placement process, I am busy with other things. […] We are casting SHIB, and it is actually one of the coins on the platform with the highest trading volume,” CZ explained

The exchange CEO also added that he doesn’t know about non-interchangeable tokens and has never bought them. However, he “believes in NFT technology” and is trying to develop it on his platform.

CZ commented on the situation with First Republic Bank. In his opinion, the success or failure of banks has nothing to do with cryptocurrencies.

“From the perspective of the cryptocurrency community, we should not rely on the missteps of others for our own benefit. […] The more successful the banks, the better for digital assets, because a healthy economy brings more money and value,” explained CEO of Binance.

Zhao added that the company is trying to do more development efforts in cryptocurrency-friendly countries and less where regulation is stricter.

Recall that in April Bloomberg has placed CZ in third place in the ranking of “25 financial titans” with a capital of $ 28.2 billion.

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