Binance CEO Changpeng “CZ” Zhao predicts that decentralized finance (DeFi) has the potential to surpass centralized finance (CeFi) in the next bull run.
During a Sept. 1 live X Spaces (formerly Twitter Spaces), titled CZ AMA, Zhao shared his thoughts on the future of DeFi. “I think the more decentralized the industry becomes, the better,” he declared, adding that it may not be long before it takes over CeFi trading volumes:
“DeFi is the future; the volume is somewhere between 5% to 10% of CeFi volumes, which is not small right […] the next bull run may very well make DeFi bigger than CeFi.“
AMA later today. I guess it’s called an ‘X space’ now, lol. https://t.co/mZrJ2nMTIO
— CZ Binance (@cz_binance) September 1, 2023
On June 9, Cointelegraph reported that following legal action by the United States Securities and Exchange Commission (SEC) against centralized exchanges Coinbase and Binance, the median trading volume on the top three decentralized exchanges (DEXs) surged by 444% in 48 hours. At the time of publication, the total 24-hour trading volume on DEXs is $722,776,226.
CZ further shared his perspective on the recent dismissal of the lawsuit against the decentralized protocol Uniswap. “The Uniswap thing was extremely positive,…
