Binance CEO Changpeng Zhao took to Reddit earlier today to discuss a variety of topics, including the investment advice he gives but is not required.
,I am not a good example in terms of investment. I don’t diversify“Zhao said.”I recommend diversifying to most people. But for me, I’m all in Binance.”
he said that he ,All in crypto, BNB and BTC. I use my Binance card wherever I go.,
44 years old, who Started Binance in 2017, having worked developing trading systems on the Tokyo Stock Exchange and Bloomberg Tradebook on Futures Trading Systems.according to forbesHe holds a total 30% stake in the company and is currently the 19th richest person in the world with a net worth of $17.4 billion.
In a broader AMA—which apparently fell short after the expiration—Zhao answered a number of questions, including Binance’s decision to trade despite the collapse of Luna, how Binance is handling user funds, and Binance Chain. future is involved.
Thanks for all your questions. Answered as much as possible.
seem @reddit AMA thread is taken down. Working to get it back so you can see my answers.
Responding to a question as to why Binance resumed trading on LUNA, Zhao explained that it was halted due to the network being intercepted by validators. He added that it was Binance’s trading that put pressure on validators to restart.
,We suspended trading for a while when validators blocked the blockchain, even this caused a lot of complaints,“He wrote.”But I believe our action forced the validators to restart the network within a few hours.”
Zhao also emphasized the widespread lack of bias in the markets.
“Finally, no one is forcing anyone to buy because trading is on. Buyers with a higher risk appetite are more willing to take that from sellers,” he replied in the AMA. “The market is neutral.”
for a question about The centralized nature of Binance Chain, Zhao replied that its low validator count helps achieve faster transactions. He also said that he is not involved in such decisions but will bring it up with the main developers of the series.
“My limited technical understanding is that there is a trade-off between performance versus multiple nodes in our blockchain development time,” Zhao said.
When it comes to user funds on the world’s largest crypto exchange by volume, Zhao clarified that they are never mixed with the company’s operating funds. In the event of any insolvency or similar event, he promised that “The funds will be returned to the users first, before any shareholders.,
Want to become a crypto expert? Get the best of Decrypt straight to your inbox.
Receive the biggest crypto news + weekly roundups and more!