Binance CEO Changpeng Zhao calls 2018 a “correction year” for cryptocurrencies during an interview. He made the statement while speaking about the bearish sentiments that plagued the crypto traders throughout this year, especially after the November 14 crypto market meltdown. Zhao also said that the crypto market has a bright outlook despite the fact that it has corrected by more than 80% in 2018.
Is Falling Crypto Market Affecting Binance’s Plans of Expansion?
During an interview with Bloomberg, Binance CEO said:
“2018 has been a tough year in terms of the pricing for cryptocurrency and I think we see a lot of projects not making it this year, so it’s a correction year.”
The CEO and co-founder of Binance cryptocurrency exchange said that price is the main factor that attracts the crypto speculators. However, he thanked the developers for developing “real use cases” and useful applications, which accelerates cryptocurrency adoption.
During the interview, Changpeng Zhao was asked about the effect of crypto price correction on the existing plans of Binance. Zhao said there has been no change in their plans due to the price correction. He went on to say that one fiat exchange has been launched by Binance and in the coming months they plan to launch another two or three. Changpeng said they are aggressively pushing forward their plans and want to introduce 10 more fiat exchanges in 2019.
What are the Observations of Binance CEO on Cryptocurrency Regulations?
Zhao said that the cryptocurrency industry wants “clarity, there is still too much uncertainty in many countries in the world.” He went on to specify that the industry wants “regulation that promotes innovation and not things that just totally hamper” it. Binance CEO also stressed the fact that he’s very confident in the high prospects of the cryptocurrency industry.
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