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Binance CEO answers questions about risk exposure after the collapse of some large crypto lenders.
New interview At CNBC’s TechCheck, Binance director Changpeng Zhao explained that his company’s finances weren’t entwined with the recent collapse of Celsius Network (CEL) or Three Arrows Capital (3AC) without a name. To do.
“We are not involved in public names. I don’t name them, but we don’t have a loan to them, we don’t borrow money from them Hmm, so we’re not involved in it.
Our name did not come to mind in any of these situations. “
Despite the recent cascade of negative cryptocurrency headlines, Zhao states that spaces are rarely depicted in positive light and continue to grow due to their strong fundamentals.
The CEO highlights Binance’s past experience of overcoming the bear market and concludes why the company is not only alive, but ready to expand in the coming months.
“I don’t think many players manage their cash reserves well. For many players, this may be their first bear market.
We managed cash well because we have already experienced some of them.Now more employment, more investment in strong companies, and also [help] Some of the companies that are tied up in cash if they are good companies.
You can lower the fee. You can start an affiliate referral program. In fact, today we have far more opportunities than we did a year ago. “
In contrast, this week, puzzled cryptocurrency broker Celsius Network will offer customers the option of “collecting cash at a discounted price or keeping cryptocurrencies” long “” as part of the bankruptcy process. The news was reported.
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Featured image: Shutterstock / kersonyanovicha
