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Binance CEO Changpeng 'CZ' Zhao recently took to Bloomberg to be interviewed regarding the latest developments in BTC and Binance and his outlook on the market moving forward. CZ admits that that 2018 has been a tough year for crypto stating "we see a lot of projects not making it this year, so it is a correction year" however CZ admits that people in the industry are still very confident about the future of the industry.
In terms of the price of BTC, CZ says that while speculators are more concerned about the price of BTC, he states that "the industry is going to grow by the builders, by the guys who actually build applications". CZ admits that the fluctuation of BTC in 2017 was extreme and that now BTC is in a correction phase.
Have a live interview on Bloomberg in 15 minutes (12:30 HKT). Will last 6 minutes or so, should be interesting.
— CZ Binance (@cz_binance) December 19, 2018
CZ states that Binance have not changed their strategy regardless of the market sentiment. Zhao states that Binance are still pushing forward aggressively with the launch of new fiat exchanges and their core decentralized exchange. Zhao also agrees government intervention is welcome due to the uncertainty currently surrounding the industry - "we want clarity and we also want good sensible regulations, we want regulations that promote innovation and not things that just totally hamper innovation"
CZ also discusses the KYC process for Binance stating that the currently misconception surrounding money laundering on Binance is false. Finally, CZ also admits his net worth is down because he is all in on crypto stating "I have been in this kind of situation before" and the Binance CEO believes they situation will turn around in moving forward.