Changpeng Zhao: “Centralized systems are still needed for the crypto market”

The head of Binance shared his expectations from the crypto market for 2022.

First of all, Zhao dispelled the myth of the uselessness of centralized exchanges such as Binance.

In his opinion, centralized financial institutions remain a necessary link between the crypto industry and the traditional financial system for converting fiat into crypto and vice versa.

The cryptocurrency market is still not fully formed. So far, it is poorly protected from hackers, scammers and financial pyramids.

In response to claims of biased selection of projects for listing on Binance, Changpeng said:

Binance supports about six hundred coins out of the existing 6 million tokens. This means that only about 0.01% of created coins end up on the exchange through principled selection. This is a very small percentage.

Zhao himself owns two coins - Binance Coin (BNB) and Bitcoin (BTC). In the past year, BNB has firmly established itself in third place in the Coinmarketcap rating.

The year was also successful for the exchange itself, despite pressure from regulators. Summing up, the head noted that the number of users around the world is approaching 100 million.

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