Binance CEO Changpeng Zhao participated in the Pomp Podcast broadcast by Anthony Pompliano. Here, Zhao talked about the Coronavirus, the cryptocurrency sector, the developments in the economy, and Binance’s acquisition of CoinMarketCap.
We have already published his comments about CoinMarketCap some time ago. Zhao said here that CoinMarketCap will operate independently of Binence, and they will not interfere with CoinMarketCap.
New Opportunities Will Come
Zhao’s comments especially about the economy during the broadcast were very interesting. As it is known, coronavirus affected the world economy very heavily. In this process, many sectors, especially tourism, were adversely affected.
Changpeng Zhao thinks that the tourism industry “cannot recover for another 6 months”. According to his comments, many entertainment venues will remain closed during this process. “New companies will be replaced by the companies that are closed because of the virus and sinking”.
Zhao thinks that we will feel the effects of coronavirus for a while, and that I will continue to feel these effects even after the virus is under control. But Zhao does not neglect to say “new opportunities will arise” in this process.
Zhao now thinks that many countries have to “print money” and that we may face a new economy in the coming months. According to his statements, all these developments can benefit the crypto money sector.
According to Zhao, states are printing money, but this money is not yet in the economy. As this money begins to enter people’s pockets, “the cryptocurrency market will begin to grow rapidly”.
Binance CEO says that during this process, crypto companies will grow and over time, more financial institutions and banks will start to deal with cryptocurrencies. According to his comments, these developments will enable the crypto industry to grow much faster than many other sectors.