Evaluating the Year 2022, Binance CEO CZ Shared his 2023 Expectations! “On Bitcoin And Cryptocurrencies…”

The world’s largest cryptocurrency exchange Binance CEO “CZ” In a letter he published today, he shared his views on 2022 and his expectations for 2023.

Posted on Binance official blog “Letter from Our CEO: 2022, the Year of Endurance” In the letter, CZ stated that 2022’s Binance and all cryptocurrency He said it was a tough year for the market, but not unprecedented.

CZ noted that despite the challenges of the bear market, the crypto industry has seen increased adoption and development.

Continuing to be optimistic for crypto despite all the negativities, CZ made the following statements:

“By crypto standards, the year 2022 was very turbulent. But when we look at the data, it’s not unprecedented.

That said, there’s a lot to think about for both Binance and the digital asset industry in general following the collapse of Celsius, Voyager, and FTX, among others.

While 2022 may seem like the crypto ecosystem was defined by crises and failures, or a threatening combination of multiple headwinds, our industry is still in its infancy and should be defined by how it stands up, not by the challenges it faces.

In this context, 2022 has given us more reasons to be optimistic than in any other year in history, as both the industry and Binance have demonstrated remarkable resilience and perseverance.”

Adoption Increases!

Crypto Noting that the retail and institutional adoption of the industry has increased, CZ said:

“Amid all the challenges of 2022, as investors and institutions around the world continue to struggle, blockchain adoption has never stopped.

In terms of retail adoption, emerging markets lead, with world-renowned brands such as JPMorgan, Rakuten, Tencent, Fidelity, Tesla, PayPal, American Express, BlackRock, Nasdaq, McDonald’s, Google Cloud, Mastercard, Sony and Nike benefiting from delivering blockchain-powered solutions this year. He was among many organizations.”

Transparency Will Continue to Matter!

Stating that Binance is a pioneer in obtaining licenses from country regulators in 2022, CZ said, “As of the end of this year, Binance has licensed and registered in 14 jurisdictions spanning five continents, demonstrating our commitment to holding ourselves to the highest regulatory standards. “ said.

Finally, CZ said that its users are safe thanks to Binance’s know your customer (KYC) measure. “To further protect users from unexpected losses, Binance maintains the Secure Asset Fund for Users (SAFU), an emergency insurance fund originally established in July 2018 and currently valued at $1 billion.

Consisting of Bitcoin (BTC), BUSD and Binance Coin (BNB) assets, the fund is transparent and wallet addresses are publicly visible. “said.

2023 Prospects!

Stating that Binance will primarily focus on regaining the shattered trust of investors through transparency and remaining user-focused, CZ said it will expand to more countries and hire more employees, as well as Web3 and blockchain stated that they plan to support innovation.

“Whatever 2023 brings, we are ready. Binance has an excellent team of diverse and mission-oriented professionals, expert management and healthy reserves.

Above all, we are guided by a long-term vision and a set of core values, which helps us stay focused on building despite possible FUDs.

It seems to me that the industry will govern the consequences of the FTX explosion for a long time to come.

In terms of market health, I expect the industry to recover relatively quickly as each bear market is better than the last.

Crypto prices are incredibly resilient. But whether the recovery is in a month or a year, we will definitely emerge from the bear market as a stronger sector.”