CZ Issues Exclusive Statement on the Current and Future Situation of the Cryptocurrency Industry

Changpeng Zhao, the founder and former CEO of the cryptocurrency exchange Binance, argued in his speech at the 5th anniversary event of BNB Chain that the cryptocurrency ecosystem is still in its early stages. CZ stated that the user base and liquidity of the market will gradually increase over time, and this process requires patience. Talking about the early years of Bitcoin, CZ said: "When Bitcoin was traded between 1 and 100 dollars, liquidity was almost non-existent and daily price volatility reached up to 60%." CZ noted that cryptocurrencies regularly appear in the press these days, but crypto assets are still considered a non-traditional investment vehicle: "If you randomly pick 100 people on the street, only 7-8 of them have cryptocurrencies, and often less than 1% of their assets are allocated to cryptocurrencies." CZ, a supporter of the necessity for solid ecosystem development strategies, stated: "Liquidity and user growth must be built step by step. Initially, a small and loyal user base needs to be established, and then gradually expanded. Timely action with the right investment is crucial." CZ also emphasized the role of financial products and major partnerships in ensuring wider adoption in the future: "Products like stablecoins and RWA (real-world assets) will play an important role in reaching a broader audience."