Statement from Binance CEO CZ on Crypto Projects and Leveraged Transactions

Changpeng Zhao (CZ), CEO of Binance, the world’s largest cryptocurrency exchange, made statements about Bitcoin and cryptocurrencies. Here are the details…

Changpeng Zhao reacted to the news companies he interviewed with his post on Twitter. In a recent interview with The Guardian, CZ said, “Binance boss said that Bitcoin could stay below $69,000 levels for 2 years.” of the title thinking it’s click-bait with news companies that make headlines like this again won’t be interviewing told.

Then from the blog page similar interview content shared.

Binance founder CZ, in a statement on his official blog, said, “4 years ago, people knew that Bitcoin will be released in 2022. from $20,000 They would be happy if we told you that it will be traded.” made statements.

In addition, Binance CEO also included the following margin transactions in his blog post:

I believe the main difference between the shame market in 2018 and the current market is more leveraged trading. There are two different types of leverage, fast and slow. It causes the price to drop from $8000 to $3000 in one day as there are consecutive liquidations on fast leverage. Slow leverage is borrowed from DeFi protocols. The effects of these will last a little longer, and I think we have not seen the end of these troubles yet.

In previous statements As stated, the market movements are normal. welcoming Zhao, this is repeated his thought.

Zhao stated that he thinks that many projects are going through troublesome processes at the moment, and mentioned that many companies have cash problems. Also on Binance many projects have come to them Stating that, the CEO said that they are examining the projects.

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