Binance founder: Something sooner or later will trigger the market

Binance founder: Something sooner or later will trigger the market

In a recent interview, Changpeng Zhao, the founder and CEO of Binance, said that sooner or later something will activate the market.

CNBC’s Crypto Trader program server Ran Neu-Ner made an interview with Changpeng Zhao, CEO of the world’s largest crypto-exchange Exchange Binance .

Important parts of the interview were as follows:

Neu-Ner – Are you concerned about the decline in the trading volumes of the exchanges?

Zhao – Not really. The volume depends on the time you compare. If you compare it with July or August, it will probably be just a little lower, because prices are now very stable. People move less when there is no movement. We’re probably down 90 percent from January. But if you compare it with two or three years ago, the volume is great right now. We’re still making profits.

Neu-Ner – Are you still opening a new account at an increasing rate?

Zhao – Not really until January or February, which is really crazy times. But we still get a new user record every day. The amount of crypto money we keep is increasing.

Neu-Ner – Do you think the new market is the OTC market?

Zhao – What I hear is that the OTC market is as big as the online volumes.

Neu-Ner – What could be the catalyst that will activate the market?

Zhao – I really don’t know. There are a lot of good news, but prices don’t move. It’il be sooner or later. Something will trigger it.

Neu-Ner – What is the secret sauce of Binance?

Zhao – I think our product is very fast and safe. Security is a big thing in the crypto money industry. What keeps us alive today is our value system. We have a very strong core value that protects users. With WEX we are making many difficult things to protect users as we have recently. The funds were stolen, and somehow the route of five or six addresses ended in Binance. We had to freeze them very quickly. Some of them make very difficult decisions. I can guarantee that the owners of these accounts will soon begin to complain on Reddit and Twitter. But we always try to do the right thing to protect the users. That’s why we have a good brand right now.

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Crypto, People
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