The head of the Binance bitcoin exchange, Changpeng Zhao, during the AMA session in X stated that the DeFi sector has the potential to outperform centralized finance (CeFi) in the next crypto rally. This is reported Cointelegraph.
“DeFi is the future, their volume is about 5-10% of CeFi, which is not so small. […] The next bull market could very well make DeFi bigger than CeFi,” Zhao said.
He is sure that the more decentralized the crypto industry becomes, the better. Binance’s CEO also welcomed the court’s dismissal of the class action lawsuit against Uniswap. The DEX was accused of selling unregistered securities.
“Developers write code, this code is freedom of speech. So the development is really good,” Zhao said.
According to the head of Binance, every country needs a cryptocurrency, but some have this need more acute than others. Those wishing to maintain leadership in financial innovation will have to embrace the digital asset industry, he added.
In July, Zhao shared his plans for the future in honor of the exchange’s sixth anniversary. He noted the arrival of the institutionalists BlackRock, Valkyrie and Fidelity Investments and called it “a test of technology and industry.”
Zhao also talked about the emergence of a clearer regulatory environment, but clarified that the global adoption of digital assets is happening at different paces.
Recall that in August, the Binance CEO criticized the USDT stablecoin, calling it a “black box” with a “certain” level of risk. He is wary of the asset due to the lack of transparency.
Earlier it became known about the intention of Binance to stop supporting its own stablecoin BUSD by February 2024.
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2023-09-03 07:55:23
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