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Changpeng Zhao (CZ), founder and former CEO of Binance, answered questions from the community at a Chinese-language AMA (Ask Me a Question) event held at Binance Plaza.
CZ stated that he likes memecoin culture but is not closely involved in memecoin trading. He said his focus is on developing the BNB Chain infrastructure to better meet the investment and trading needs of users. He described the early advantage gained by some investors in the memecoin market as “a reflection of decentralization,” adding that early entrants also take significant risks, while later investors need to do their own research. He added that he doesn’t see the need for third-party intervention at this stage.
CZ stated that truly successful memecoins often have “historical anecdotes and stories,” adding that over 90% of memecoins fail and investors should be responsible for their own decisions. He also mentioned that he doesn’t want his own posts and those of Binance co-founder He Yi to be excessively followed by speculators, but he will not stop posting anyway.
CZ stated that short-term market movements (the next 3-4 months) are unpredictable, saying, “Even the US President can’t predict this clearly.” However, arguing that an altcoin season is inevitable, CZ noted that the market progresses in cycles and that transactions will not revolve solely around Bitcoin in the future. Reminding that Bitcoin is essentially a “store of value” and does not have smart contracts, CZ said that public blockchains, applications, and infrastructure projects will continue to find their place in the market.
CZ, who remains optimistic about Bitcoin in the long term, stated, “It will reach $200,000 sooner or later; there’s no peak signal yet.” He also expressed pride in the BNB ecosystem, noting its stability and large number of active developers. CZ, who still holds a significant amount of BNB, avoided giving a specific price target but affirmed that its upside potential remains.
CZ strongly added that new investors, in particular, should stay away from futures trading. He stated that the potential losses due to high volatility and leverage could be enormous, and reiterated that investors must conduct their own research and take responsibility for their decisions.
CZ stated that prediction markets could become a significant sector in the long term, but they are currently in their early stages. Using Polymarket as an example, CZ said that there are currently a limited number of strong market makers in the market, and uncertainties regarding regulations and competition persist.
CZ also touched upon the possibility of X platform supporting cryptocurrency investments, reminding that Binance Square users have already completed the KYC process and can trade directly. However, he noted that users might need to go through the KYC process for smart asset tags and potential trading features that X might offer in the future.
*This is not investment advice.