Changpeng Zhao, CEO of the world’s largest crypto exchange Binance, which is on the agenda with its 10-point crypto money manifesto and positive statements on crypto money regulations, spoke to the Associated Press.
What does he think of Dogecoin and Shib?
Asked for his opinion on meme coins, which are called joke coins, CZ stated that he did not buy Dogecoin. Stating that his own thoughts are not very important in this regard, CZ added that if enough people value them, then they have value.
High Volatility
Talking about the high volatility in the cryptocurrency markets, CZ said:
“Crypto has high volatility as it is a relatively smaller market. It is much smaller than traditional assets. If you need to pay the next month’s rent in US dollars, you must keep some US dollars. You can’t risk this with highly volatile assets. But you can put the money you can set aside for two years or five years in highly variable assets.
There are a lot of active traders in the crypto space today. There are a lot of people who are in this industry for investment gains or speculative trading and these guys actually prefer volatility.
Personal Investments
Asked about his personal investments, CZ said:
“Actually, I don’t invest a lot. For most people I am one of the really bad examples that should not be followed.
I bought some Bitcoin in 2014. I spent some over time, but didn’t sell most of it.
The other asset I own that makes up the majority of my net worth is BNB (Binance coin). Personally, I do not hold any other cryptocurrencies.
I personally do not own shares in any other project or crypto. I do this on purpose because I don’t want to have any potential conflicts of interest.
Personally, I am financially free. I don’t need a lot of money and that’s how I can maintain my lifestyle. I plan to give away most of my wealth, as many wealthy entrepreneurs or founders have done, from Rockefeller to now. I plan to give 90, 95 or 99% of my wealth.”
*Not Investment Advice.