Binance CEO Changpeng "CZ" Zhao virtually attended the Hong Kong Web3 Festival 2023 and discussed the future of centralized finance (CeFi), asset security, and mass adoption in crypto and Web3. CZ said Binance is taking many measures such as improving infrastructure, proof of reserves, and using new technology to safeguard users' crypto assets. He argued that CeFi is not against DeFi, and some centralization can coexist in decentralized platforms. CZ also highlighted the need for regulatory clarity, saying "using enforcement to control crypto is bad," and it is crucial for regulators to have a deep understanding of crypto.
(By Varinder Singh)
All Comments