Binance crypto exchange CEO Changpeng Zhao said that 2018 is a “correction year” for cryptocurrencies.
Changpeng Zhao called 2018 a “correction year” for crypto currencies while expressing optimism for the future of the crypto industry during a Bloomberg interview published on Dec. 19. Zhao spoke in reference to the bear market plaguing traders this year, which took a turn for the worse in mid-November when markets crashed even further.
Zhao, the CEO and co-founder of major cryptocurrency exchange Binance, said that “it’s a correction year.” He noted that while “price is a very strong attraction” for speculators, the industry will grow thanks to builders who make applications and “real use cases” that drive the further adoption of cryptocurrency.
When asked about how the price correction affected Binance’s plans, Zhao said that Binance launched one fiat exchange, plans to launch two or three “in the next month or so,” and ten more fiat exchanges next year. He added:
“None of our plans changed, we are still pushing forward very aggressively.”
In regard to increased regulation and government involvement in the crypto space, Zhao said that the crypto industry “want[s] clarity, there is still too much uncertainty in many countries in the world.” He specified that the crypto industry “want[s] regulation that promotes innovation, and not things that just totally hamper [it].” He concluded by saying that he is still “very confident in the industry.”
Binance has expanded its activities beyond those of a traditional crypto exchange. Binance Labs, the firm’s innovation wing, launched its Incubator Program in August 2018. Last week, the program graduated its first “batch” of blockchain projects that received financing and mentoring through the initiative.
Today, the Binance Charity Foundation, Binance’s philanthropic arm, launched a blockchain-powered charitable campaign in support of Maltese youth. The program aims to support terminally ill patients and disadvantaged children in Malta and Gozo.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.