Missed last week’s AMA with cz_binance? Worry not, we’ve summarised all the highlights into one blog. Start reading here 👇
On July 5, 2023, Changpeng Zhao , Binance’s CEO, spent an hour on Twitter Spaces answering a slew of user questions.
What follows is a summary of CZ’s answers to some of the questions he received during a Twitter AMA on July 5, 2023. Please note that this transcript has been edited for length and clarity.What are your future plans regarding the real-world utility of blockchain?We have many teams working on different applications. Some of it has to do with sports, some with finance, and some with other things. It's a pretty wide topic. We're still in the early days.
I think everyone should research a small number of projects so they can explore them deeply. For the projects you like, follow them, support them, and teach other people about those projects. If possible, you could even join them, work for them, and be on the team. Any project that's good for crypto is good for the industry.
Two months later, China banned bitcoin and shut down crypto exchanges operating within its borders. We had to move, and that was a pretty big deal. That cost us around 40% of our treasury at the time, which was one of our single biggest expenses. Nevertheless, we also received a lot of goodwill and grew much faster afterward.
There are many initiatives we're still pushing, and we're doing many investments. Every week, our investment team has numerous projects asking me for the final approval. Our teams are doing many investments. I think we always want to prepare for the worst case, which is another prolonged bear market. I think we have the stamina to last. We also want to be prepared for the best case, which is more volume coming in.
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