Binance CEO Changpeng Zhao (CZ) held an unexpected Twitter Spaces Q&A event the other day. As Kriptokoin.com, we have compiled the statements made by Binance CEO for you.
Binance CEO asked various questions
At the event, which was attended by 23,000 people, and CZ was asked various questions such as advice on how to list cryptocurrencies on Binance, the best places in the world for crypto today, and how Binance will deal with FUD in 2023.
In response to a question about whether Binance is adjusting its listing standards according to the state of the market, CZ stated that it does not matter whether the project is Layer-1 or Layer-2, or which blockchain the altcoin is on, whether it is a bull or bear market.
CEO mentioned listing tips
Binance CEO said that Binance’s approach hasn’t changed much in the past five years since the first “Binance Listing Tips” were posted on LinkedIn. The Binance team generally offers a faster turnaround time for reviews of projects on BNB Chain. However, the most important consideration when deciding on a listing is how many users a token has. However, CZ explained this as follows:
“The number one thing when we look at it is the number of users. If the number of users for a project or token is high, then we believe it has a use value.
Basically, if a large number of users are using a product, then it is likely to be valuable. Also, if there are a lot of users, there is usually very good liquidity.”
CZ noted that if a project does not have many users or is in an early stage, much more scrutiny is required, including examining Binance’s product, team, and other due diligence. In his speech he mentioned:
“If the project being considered has a large number of users at the same time, then the decision to list is simple.”
CZ praised the United Arab Emirates in particular, with its headquarters in Dubai. He noted that the UAE has “a very friendly, very smart regulatory environment, not just for crypto, but for business in general,” while also talking about low taxes, security and cleanliness.
Giving traders trading tips
Binance CEO CZ has hinted to the crypto community on how to continue the current market rally.
https://twitter.com/cz_binance/status/161684979477295104
As a general rule on Twitter, CZ advised his followers to adopt risk management during bull markets, avoid FOMO (Fear Of Missing Out) and not put all their investments in one cryptocurrency. Specifically, CZ ended with a slightly sarcastic tone, ‘Not financial advice’, putting his advice in parentheses.
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