Earlier on CNBC live, Binance’s CEO Changpeng Zhao talked about the crypto exchange’s effort to ensure that clients are trading responsibly and the future of crypto.
Read CRYPTONEWSLAND onIn the interview, CZ mentioned twice that Binance is the only crypto exchange that has a responsible trading program when asked if it’s right to be offering crypto leveraged products.
The program includes going through risk assessment questions. Zhao stated that in order for users to be allowed to trade using leveraged products, they must understand its risk and answer the questions correctly. In addition, the exchange prevents users from trading for a while after losing money.
Furthermore, Binance’s top executive said that the exchange only offers leveraged products in places where the regulators allow it. Pointing out that there are regions where the regulation does not allow using products of this kind.
Zhao said leveraged products exist in regulated and traditional markets to provide liquidity, price discovery, and provide hedging. CZ pointed out that it is a proven financial tool that is available in the financial market so it shouldn’t be a problem having it in the exchange.
Meanwhile, Zhao was also asked about his views on the current downside of crypto and how it’s going to last. He said he cannot predict that and no one really knows.
CZ hinted that people should look at the charts: They can see a cycle where Bitcoin moons and reaches a new all-time-high price every four years. Yet, Zhao clearly states his uncertainty about the matter and if history will repeat itself.
#XRP on the brink! Analysts eye potential breakout. 💥 Traders buzzing with anticipation over projected…
#ShibaInu breaks out of a descending triangle pattern! 📈 Current sentiment is bullish with strong…
Singapore, Singapore, May 15th, 2024, ChainwireA major event in Cosmos is the recent passing of…
Majuro, Marshall Islands, May 15th, 2024, ChainwireMultipool, a leading innovator in the blockchain and cryptocurrency…
#Worldcoin open-sources #SMPC to boost biometric data security, enabling deletion of old iris codes. User…
Former #FTX exec seeks leniency after pleading guilty. Auction of locked #SOL assets amid #cryptocurrency…