Binance CEO Predictions: From Government Investments in Bitcoin to Industry Regrowth in 2023
Binance CEO Chang Peng Zhao believes that 2022 was a very bad time for cryptocurrencies and hopes that the space will grow again in the coming years.
To Report Reuters, during the new Binance exchange event held in Athens, Greece, Zhao said that instead of dealing with digital currencies, there should be legislation for this space. According to him, this is a better option for governments around the world, as digital currencies become more and more widespread.
Following the fall of many groups active in this field, including the recent fall of the “FTX” exchange, the discussion of digital currency legislation has received more attention than before.
Zhao said about this:
I think most governments now understand that the adoption of digital currencies is inevitable and will happen in the future. So it is better to legislate for this industry instead of fighting it.
After withdrawing 6 billion dollars of assets from the FTX exchange within 3 days and following the announcement of the bankruptcy of this complex in the United States on November 11 (November 20), the complex and ambiguous world of digital currencies came into the spotlight; A collapse that faced about a million creditor customers with a loss of billions of dollars.
Despite this, Zhao expects the digital currency industry to regain its position in the coming year.
He says:
This year has been a very bad year for digital currencies. A lot has happened in the last six months and now I think the industry is in a healthier state. Just because of what happened to FTX, you can’t say that other businesses in this space are bad.
The CEO of Binance has said about the possibility of digital currencies like Bitcoin being added to the financial reserves of countries in the future, that he expects countries to start this movement; Especially those that do not have their own national currency. Zhao added that he envisions the movement starting with smaller countries.