Binance CEO

says crypto does not need a

savior November 16, 2022

Speaking at a conference in Abu Dhabi, Binance CEO Changpeng Zhao said that crypto does not need a savior.

“Crypto doesn't need a savior. Crypto will be fine. And I'm not the savior, even if there was one,” CZ opined.

Binance CEO said there was no magic formula to prevent a repeat of the FTX collapse.

Talking about FTX, CZ said that it was run more like an exchange run by a hedge fund.

CZ added that essentially the auxiliary part was really to facilitate the hedge fund for trading.

Binance CEO also said that he didn’t expect his Tweet to cause a stir which would eventually lead to FTX filing for bankruptcy.

CZ said he didn’t expect FTX’s insolvency.