On a hot seat with a wink Video To round off the year 2021, Binance CEO Changpeng Zhao, or “CZ,” responded to a series of curated tweets from the Binance community.
The Sino-Canadian executive’s standout message was that centralized exchanges like Binance would remain relevant in 2022 and beyond.
Following a loaded tweet about the dark side of centralized finance and the future of decentralized finance, CZ said, “Today we still need the centralized systems to integrate with the traditional finance industry so that we can bring the money into and out of crypto be able .”
He held back sentiment regarding the cryptocurrency market as a still nascent industry prone to “hackers, Ponzi schemes and scammers”.
Avid readers will remember one of the legendary rug pulls of 2021, the Squid Game Token (SQUID), the one 45,000% profit before dumping. In early November, Binance opened an investigation into the Tokens to track funds associated with the epic pump-and-dump.
When CZ is asked to give preference to certain blockchain projects, or even coins, which, according to a Twitter user, are “totally counterfeit”, CZ inevitably set the record right:
“Binance lists roughly six or seven hundred coins out of probably 6 million coins. This means that only one of 10,000 coins that have ever been created is listed on Binance. That is about 0.01%. It’s a very small number. “
While coin selection is a contentious issue, tighter management of the Centralized Exchanges (CEX) was rampant in 2021. Compliance is not a stranger Binance Turkey was recently fined 8 million liras for violating money laundering while Overall, CEXs came under pressure in August this year.
Related: Binance completes acquisition of Swipe and prepares for CEO exit
Regarding the growth of the group, Binance now has over 90 million users worldwide and thus overshadows its team of “a few thousand Binancians”. 2021 ends with a bang, there regulatory approvals in Canada and Bahrain will bring Binance services to more crypto enthusiasts around the world.
CZ, meanwhile, will continue hodl his two favorite coins, Binance Coin (BNB) and Bitcoin (BTC). He reached Cointelegraph’s Top 100 Notable People on Blockchain 36 in 2021, wishes us all a Happy New Year and said he will “continue to work on feedback from Binance users in 2022”.
