Binance CEO Changpeng “CZ” Zhao commented on the DeFi sector bubbles, whether Bitcoin will still be the biggest cryptocurrency in the coming years and how big the industry can grow. You can find important headlines from the Russian news agency RBC’s interview in the news.
Changpeng Zhao, founder and CEO of Binance, the world’s largest exchange, made striking points in an interview with RBC, a Russia-based news agency. Zhao, better known as CZ in the cryptocurrency community; The agency’s growth prospects for the cryptocurrency industry have answered many questions such as the future of the DeFi world.
“Even if some projects are balloons, the DeFi sector will remain intact”
Binance CEO CZ suggested that many DeFi projects show signs of a bubble. Despite this, CZ said he does not believe that the decentralized financial sector will be completely over. Zhao also underlined that the DeFi industry has great growth potential. CZ added that even in the midst of the Bitcoin (BTC) rally, DeFi is still popular.
Reminding that ICOs were also called a bubble in 2017, Zhao said that a number of ICO projects, including Binance, are doing great things right now. Reiterating his belief in the permanence of the DeFi sector, Zhao stated that despite the yield farming and liquidity incentives, some decentralized finance projects will not last very long. Chanpeng Zhao also drew attention to the obstacles to decentralized exchanges in his previous statements. According to CZ, decentralized platforms will not be widely adopted until they become more user-friendly.
“Crypto money is the best currency”
When asked about how much the Bitcoin and cryptocurrency industry can grow, Binance CEO CZ replied, “To be honest, I still don’t have a certain number in mind,” with no limits. According to CZ, who says that the industry has only 0.1% adoption right now, this rate could rise 1000 times or even more. Zhao added that maybe it would never happen, maybe it could happen very soon.
Using the definition of “the world’s best currency” for crypto money, Zhao continues to answer; He underlined that cryptocurrencies mean freedom and money for billions of people around the world in a crisis. CZ said he believes the cryptocurrency industry will be one of the fastest growing industries in the next 10 to 20 years. Saying that cryptocurrencies have a lot of room to grow, CZ said he is not sure how much Bitcoin can grow.
Stating that he cannot predict whether Bitcoin will still be the best crypto currency in the next 10 years, CZ stated that he is confident that the cryptocurrency industry will grow in general. That’s why Binance CEO states that he spends all his time creating products that more people can use in the cryptocurrency industry.
“I am extremely optimistic about this”