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Crypto Sphere Needs Projects, Not ETFs — Changpeng Zhao

16:19 08/02/2019
ETFs To Not Be Key For Crypto Industry

Changpeng Zhao, CEO of the leading trading platform Binance, expressed skepticism regarding exchange-traded funds (ETFs) during the video broadcast in Periscope.

 

The opinion of the head of Binance is always of interest for the crypto sphere participants. This time Zhao stated that the main factor in the popularity of the digital currency industry will be enthusiasts who create truly operational projects, rather than crypto ETFs.

 

The Binance head also spoke about the development of some projects of his company. He disclosed several details of the forthcoming launch of Binance DEX and stated that a blockchain, which lies at the heart of the platform, will be launched soon. It is worth noting that the popularity of Binance Coin (BNB) is growing — tokens have already entered the list of top ten cryptocurrencies on CoinMarketCap.

 

Binance DEX will differ from other platforms through a low commission. At the same time, there is a fee for issuing tokens on the Binance Chain blockchain, at first it will be about $100,000. This will be done purposely to reduce the number of fake projects.

 

Ledger Nano S will be among the first hardware wallets supporting Binance Chain and DEX, and later the KeepKey and Trezor crypto wallets will be integrated.

 

Zhao also mentioned the situation with the QuadrigaCX trading platform. In his opinion, the story of this crypto exchange is suspicious.

 

As previously reported, Binance added the option of acquiring cryptocurrency using the Visa and MasterCard credit cards.

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