world’s largest cryptocurrency Changpeng Zhao, CEO of Binance, made interesting statements about the market on Twitter.
CZ’s statement came on top of the downtrend in the overall market following the collapse of FTX.
According to CZ, the recent dips are not the end of cryptocurrencies, and it’s not even near the end.
Binance CEO Changpeng Zhao: “This Is The Beginning Of A New Era”
Binance CEO said in his statement on his official Twitter account:
“This is not the end of cryptocurrencies. On the contrary. This is the beginning of a new era.
I took note of today’s crypto prices for future reference.”
Among the cryptocurrencies that Zhao references, only Bitcoin, Ethereum and of BNB was noticed.
It’s not the end of crypto. Far from it. It’s the beginning of a new chapter.
Just noted today’s crypto price for future reference. pic.twitter.com/WvOhqkncYK
— CZ 🔶 Binance (@cz_binance) November 24, 2022
Zhao has emerged as a new savior-like personality for the ailing industry, filling the void left by Bankman-Fried, who had bought or invested in a number of ailing crypto firms from Voyager Digital to BlockFi before his collapse.
FTX’s bankruptcy was triggered in part by a tweet by Binance’s CEO that drew attention to CoinDesk news that raised questions about the company’s finances. Since the rapid collapse of FTX two weeks ago, investors have been worried about a possible crypto crisis affecting every corner of the industry.
Cryptocurrency exchange Binance on Thursday announced new details about its industry recovery fund, which aims to support companies in distress following the disastrous bankruptcy of FTX.
In a blog post, Binance said it will allocate $1 billion in its initial commitments to the recovery fund. The company added that it could increase that amount to $2 billion at some point in the future “if needed”.
*Not investment advice.
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