CZ Discussed the FUD on Binance, Global Regulations, and Current Market State in an Interview

Binance CEO Changpeng Zhao shared his views on the current state of the crypto industry and market during an interview with Bankless on May 29th.

Zhao addressed recent controversies around Binance, suggesting that his company attracts negative attention due to its size and his ethnicity. Zhao said that Binance aims to be transparent “as transparent as possible” in spite of FUD and said that Binance currently provides proof-of-reserve reports.

He acknowledged that there are limits to transparency. He argued that if Binance were to disclose all of its own wallet addresses, it would reveal Binance’s vendors and partners, thereby compromising privacy and security and affecting competition.

Zhao also discussed global regulations, saying that Binance is actively engaging with them and that the crypto sector is becoming more cooperative when it comes to regulation. He also noted that the Middle East and Europe are currently implementing the most promising crypto regulations.

Regarding the state of the cryptocurrency market, Zhao said that the market is recovering from 2022’s bear market, giving it a “mixed mood” as it's unclear what will drive “explosive growth” in the future.