Binance ‘Try Very Hard to Not be the No.1’, Its CEO Believes Bitcoin will Continue to Grow
June 14, is the conception anniversary for Binance. In less than one year, this young crypto exchange grows rapidly and has become the world’s largest cryptocurrency exchange based on 24-hour trading volumes, with $1.5 bln in trades on the day.
Zhao Changpeng, CEO of Binance disclosed that Binance has officially opened up a bank account in Malta to pave the way for its fiat-crypto trading through a separate Malta-based exchange in an interview with Cointelegraph. Customers will soon be able to convert digital tokens into fiat money.
Zhao has also acknowledges his previous experience from OKcoin crypto exchange but he is sill surprised by the rapid growing speed of Binance. Zhao emphasized that, honestly, he does not want to be the champion in this field in order to avoid regulatory pressures.
“As for us, we try very hard to not be number one all the time, because being number one creates other problems sometimes, especially with regulators. The regulators like to talk to number one guy. We try very hard to not be number one all the time, but other people are trying very hard to boost their volumes to be number one,” said Zhao.
Although Binance has become a really popular exchange over the past year, they still gets a portion of negative news. Zhao also pointed out some negative news actually help Binance to grow. He demonstrated that:
“We can very comfortably ignore anything that’s negative. To be honest, a lot of the negative news actually help us, because it creates debate, contention which, to a lot of observers, are more interesting stories.”
When Zhao was asked to make price predictions on bitcoin and other cryptocurrencies, he didn’t give an exact value, but he believes that the cryptocurrency market will become more and more stable in the future which shows this capital market becomes more mature.
“I’m very comfortable with Bitcoin’s price. If I was making any predictions, I would say it will continue to increase by a few hundred percent yearly for the next few years.”