Watch: Binance CEO Zhao: Crypto Overall Is Fine Despite FTX Fallout

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Watch: Binance CEO Zhao: Crypto Overall Is Fine Despite FTX Fallout (youtube.com)

Changpeng ‘CZ’ Zhao, chief executive officer of digital-asset exchange Binance Holdings Ltd., discusses the fall of Sam Bankman-Fried’s FTX empire and its implications for the broader crypto market. He also talks about Binance's strategy, and the possibility of setting up a roughly $1 billion fund for the potential purchase of distressed assets in the digital-asset sector. He speaks with Haslinda Amin on "Bloomberg Daybreak: Europe." (Excerpt)
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Nov 28, 2022 by Admin in Video
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Francisco Gimeno - BC Analyst

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Francisco Gimeno - BC Analyst Binance CEO, CZ, had to come out to underline that crypto is fine, even if has been aggressively hit by FTX's situation and it contagion to other companies and exchanges in this ecosystem. Fundamentally CZ affirms that contagion will continue but in small waves, and that Binance is all for transparency and building a fund to rescue whoever is affected and innocent from cases like FTX's. We however believe that the damage to crypto has a double edge, the one CZ talks about, which is about the status of the crypto ecosystem as sound enough to survive these problems, and other which we suspect everybody believes now, whereby crypto and digital economy has got a negative image of being just a place for speculators and fraudsters/scammers. This can be healed too once proper regulations are in place, regulations which protect everybody in the system without being stifling. What do you think?
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- Nov 29, 2022