- Binance’s chief Changpeng Zhao said the title from an article of Fortune is a ‘little off’.
- The title stated that CZ says the crypto downturn is far from over.
- Zhao clarified that he couldn’t predict the future of the market.
Binance’s CEO Changpeng Zhao, commonly known as CZ, complimented a certain article from New York-based multinational business magazine Fortune. In a tweet, the Binance chief said it was a “good article.” Yet, he corrected the title part of it saying it’s “a little off.”
Zhao said the article was published after he did a couple of interviews from livestreams. Adding that he’s doing a lot of talking recently.
The article was written by Vivienne Walt and it’s published on June 16. The title goes by “Binance boss CZ says the crypto downturn is far from over—and he plans to go on a spending spree.”
Specifically, Zhao only rectified the title of the report. Technically, he told Fortune on Thursday that we’ll see a four-year cycle based on the charts. Wherein, there will be roughly two years of bear and another two years of bull.
CZ pointed out that “history may not predict the future.” His statement cleared up the headline about what he said that the crypto downturn is far from over. Adding that he couldn’t predict what will happen as well.
Binance, the largest crypto exchange, hasn’t been doing bad despite the recent crypto meltdown. While other crypto firms have been laying off their employees, Binance was conducting a massive hiring instead.
In an interview at Viva Technology, a four-day industry expo in Paris, CZ said:
We do not need to raise money. Based on my knowledge, we have a much larger budget than anybody else in the industry.
Zhao said the crypto meltdown will “weed out the weak projects, and only the strong ones stay.” Furthermore, those who will survive the crash will come back stronger.
