Changpeng Zhao calls cryptocurrencies the only stability in the world

The CEO of the largest cryptocurrency exchange Binance has shared his opinion on the importance and role of digital assets in the modern world. Zhao said at the Web Summit in Lisbon that despite the volatility in the crypto market, digital assets are the most stable form of money in the world.

«Cryptocurrency is the only stable thing in our very unstable and dynamic world ,» Zhao emphasized.

💸 @cz_binance, the CEO of @binance, took to Centre Stage to share an alternative view of the stability of this crypto winter. pic.twitter.com/HqANBCKYNj

— Web Summit (@WebSummit) November 1, 2022

In addition to reflecting on the stability of cryptocurrencies, the Binance CEO spoke about his attitude to regular politics in different countries. Zhao noted that the US regulators are «doing a good job» in providing the necessary level of banking support for crypto exchanges in the country. According to Changpeng Zhao, using the automated settlement protocol, exchanges in the US can automatically withdraw money from users' bank accounts every month without the need to contact them every time. «In other parts of the world, we don’t have this level of banking support yet,» Zhao said.

Regarding Binance’s recent large investments, Zhao explained that he allocated $ 500 million for Elon Musk’s purchase of Twitter to preserve freedom of speech. «We are extremely supportive of freedom of speech, the existence of which directly affects the freedom to use cryptocurrencies,» Changpeng Zhao explained. The father of Binance emphasized that he is ready to help the new owner of Twitter implement Web3 technologies on the platform.

Zhao also suggested that Twitter will support several different cryptocurrencies in the future, not just BNB or DOGE. «Given Musk’s enthusiasm and support for the crypto industry, Twitter may feature large-scale crypto-related solutions in the near future,» the Binance CEO emphasized.