- Binance CEO held another AMA session at Spaces
- He touched on several important topics, a summary of which you will find in this article.
Yesterday, May 1, Binance CEO Changpeng Zhao held another AMA session. Among other things, the CEO of the exchange spoke about the listing of mem-coins, the banking crisis in the United States, and Hong Kong’s experience in introducing crypto assets.
You can listen to the full recording at link. Below you will find a summary of information on the main points raised in the conversation.
American banks. Is the collapse of SVB, Signature and Silvergate related to cryptocurrency?
CZ thinks not. Cryptocurrency is only a tool for investment. At the same time, the better the banking system works, the easier it is for retail clients to get access to new products, including digital assets.
Recall that the Republicans suspect the federal authorities of deliberately “isolating” the cryptocurrency business in the financial field. Members of the House Financial Services Committee have already submitted a request to the FDIC.
CZ considers the support of crypto-friendly banks to be a key topic in this matter. At the same time, the collapse of the entire system does not benefit the adoption of cryptocurrencies.
Is Hong Kong really a “testing ground” for China in terms of the integration of crypto assets?
Zhao agrees with this thesis. However, he does not see anything wrong with the situation. Hong Kong is actively implementing new solutions in this area, which is beneficial for the development of the industry as a whole. This approach seems to Zhao “a wise decision.”
It is possible that the draft regulatory framework being considered by the Hong Kong authorities was also created with the approval of the PRC. By checking how the rules work in the special zone, Beijing can learn from the experience if it is positive.
Listing of memecoins on Binance
As part of the AMA session, he touched several “coins” at once. The mere mention of SHIB caused quite a stir in the community. However, Zhao noted that he knows nothing about meme-coins, citing Elon Musk as an example, who is actively forcing DOGE.
Zhao noted that the company has a separate team to evaluate each project. He himself does not interfere in this process, so he cannot say anything specific about individual tokens.
In particular, users asked CZ if Binance would list the PEPE token. Recall that during the fever in the mem-coin market, some traders in this position became literally millionaires. Here you can find out more about him. Zhao did not give a definite answer to this question.
According to CZ, Binance will never list a token “too fast.” If the project “survives” the pullback in the market, the chances that it will be added to the platform are quite high.
Meanwhile, PEPE made it to the top 3 meme-coins according to Coingecko:
It is also among the top 100 crypto assets with a capitalization of over $520 million.