Binance CEO Changpeng Zhao said that the recent crash of FTX, while forcing destructive effects and unexpected changes, will bring the industry into a much better place in the long run.
“This incident will set us back a bit, but then the industry will become healthier. So it’s actually better in the long run,” Changpeng Zhao said in an interview with CNBC.
The world’s top billionaire believes that the circumstances will improve in the future, highlighting the crypto market has massive potential for growth and this rocky scene will pass once the dust settles.
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Unlike a house of cards, the crypto market is built on solid technological foundations, which “are much better than the tools we had to transact, to raise money, to do global payments, etc. They are fundamental technologies that are much better than the tools we had before,” according to CZ.
Binance’s leader is, on the other hand, cautious about…
