Binance CEO Shares Thoughtful Crypto Industry Recap for 2018, Touches on What’s Next for the Future
Changpeng “CZ” Zhao is the well-known CEO of Binance, and he published his annual “end of year” letter” this past Tuesday. Announcing the post on Binance’s official Twitter handle, he said,
— Binance (@binance) December 25, 2018
His post included a link to the post on the official website.
On this year, CZ discussed the way that volatility took over many crypto assets, and prices quickly fell. As a result of the fall, ICO projects did not meet the lofty expectations that were in place for it. To make matters worse, security breaches led to millions of dollars in losses, and regulators decided to dig into the industry with new laws.
CZ commented, “We, as a young industry, were not very united. There were fights between projects, between people, and stupid forks that triggered further drops in the price.” He added how the freedom afforded to the crypto industry was inevitably going to trigger some chaos.
However, the year was not completely negative. Binance has seen some major strides, like their development of the #SAFU Fund. This fund is meant to protect their users against the accidental losses that they face. Binance has also used Binance Labs to support several blockchain and crypto startups. The Binance Coin (BNB) has been met with open arms by 50 partners, which have listed BNB on their platform as well.
Reported on SludgeFeed, CZ is predicting multiple changes for Binance in 2019, including:
- More features to come on his Binance.com website
- The launch of Binance Chain’s MainNet, which comes with instant transactions
- A total of 10 fiat exchanges active around the world
- More collaborations between industry leaders and themselves
- More use cases involving the adoption of BNB
- More acquisitions and project investments
- The establishment of transparent charities.
Based on the latest details from CoinMarketCap, BNB has seen a 1.60% gain in the last 24 hours. It is presently being traded at $5.65.