The Binance founder assured users that the company has what it takes to continue operating for years to come. Here are the details…
Binance CEO CZ makes statements
Following the launch of zero-fee Bitcoin (BTC) trading by Binance, Changpeng “CZ” Zhao, founder and CEO of the world’s largest exchange by daily trading volume, said the company has the largest reserves in the emerging industry. The Binance founder stated that he is not in the habit of bragging about numbers like most crypto businesses do. However, according to the executive, the exchange has by far the largest reserves in the industry. Zhao announced this in response to a comment made by a Twitter user using the “dippudo” username. As we reported on Kriptokoin.com, Binance announced that they have launched zero-fee Bitcoin trading for 13 spot pairs. Shortly after this announcement, “dippudo” tweeted the following:
CZ, is it true that Binance can operate for many years with the amount of reserves you have? How does zero fee affect this?
The CEO of Binance, believed to be the world’s richest person in the cryptocurrency industry, dismissed the possibility that the exchange’s zero-fee trading launch would affect its reserves. CZ used the following statements:
Yes, don’t worry. We don’t brag about numbers. However, we have by far the largest reserves we know in the industry. This 0 fee thing is a way for us to take care of our users in a tough market.
CZ says Binance is self-sufficient
The founder of Binance recently said that the cryptocurrency exchange does not have any competition with other trading platforms. The crypto community stated that it will decide which trading firm is better. He stated that Binance is self-sufficient and does not have any credit load. It was even thought that he was criticizing FTX with these statements.
The exchange announced its zero transaction fee campaign.
Yesterday, Binance announced that it will celebrate its fifth year by launching zero-fee trading for BTC spot pairs starting tomorrow. The pairs covering this announcement are as follows: BTC/AUD, BTC/BIDR, BTC/BRL, BTC/BUSD, BTC/EUR, BTC/GBP, BTC/RUB, BTC/TRY, BTC/TUSD, BTC/UAH, BTC/USDC , BTC/USDP and BTC/USDT
Binance supports cryptocurrency adoption in Africa
Despite having good reserves that could keep Binance afloat for years, CZ and the company are not giving up on launching significant efforts to drive crypto adoption. CZ announced yesterday that it had visited Macky Sall, president of Senegal, in a move believed to be part of the exchange’s plans to promote widespread crypto use in Africa. The development comes a day after the CEO met with Ivory Coast President Alassane Ouattara.
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