The CEO of Binance is in the latest crypto news, this time for expressing his doubts over whether or not the 2018 crypto correction phase has ended. In an interview with Bloomberg, Changpeng Zhao (CZ) explained that cryptocurrency is a field of speculators and its volatility should not come as a surprise.
In the same breath, the entrepreneur said that there are many things that matter to the crypto space in the long run – referring to the ‘killer applications’. As he said:
“I think the price is a powerful attraction for a lot of speculators. But the field is going to grow by builders, the guys who build applications and adds to the adoption of cryptocurrencies in the long-term.”
Currently, some reports suggest that a majority of the blockchain projects that promised to “revolutionize” the crypto space failed to build even an alpha version of their ambitious plans, draining the investors money and cryptocurrencies into nothing.
However, CZ pointed out that the crypto space will likely survive because of the presence of technologists and their ability to build user-friendly applications. With this, he again showed his optimism for the next year – in which he plans to launch 10 more fiat-enabled crypto exchanges across the world under Binance’s umbrella.
“None of our plans changed, we are still pushing forward very aggressively,” CZ concluded.
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