Changpeng Zhao, CEO of Binance, believes in the stability of crypto amid a global downturn in both the equities and the digital assets markets.
In an interview at the Web Summit in Lisbon, Portugal, Zhao shares his bullish view of cryptocurrencies despite the crypto winter that saw Bitcoin (BTC) shed over 74% off its all-time high.
“Crypto is probably the only stable thing in this very dynamic environment. Prices are volatile, but if you look at the technology, if you look at the fundamentals of cryptocurrencies – limited supply, nothing’s changed. It has been the most stable thing technology-wise in this whole turmoil situation.”
The Chinese-Canadian business executive believes crypto still has room for growth. In September, Zhao shared his thoughts on how regulation would help drive global adoption of crypto assets.
“I do believe that having regulatory clarity will actually ease adoption. There is a group of guys who got into crypto early, many of them may be libertarians, anarchists etc. They hate any kind of regulation.
But I think for the mainstream users, the rest of the 90% or 95% of the users that are still not in crypto yet, having regulation will actually ease them into crypto…
Regulatory clarity definitely helps. But it’s not to say that all regulations could be good. We have to look at the specific regulation. For example, we’ve seen in other countries where they have a clear ban on crypto. That’s one type of regulation that’s clearly not good…
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