фото показано с : invezz.com

Changpeng Zhao told CNBC’s Squawk Box Asia that Binance is probably the only crypto exchange that has a responsible trading program. He went on to explain how the world’s biggest exchange by trading volume ensures its clients are trading conscientiously.

When asked if he thought it was right to be offering leveraged Bitcoin products, considering the impact they can have on people who don’t understand them, Changpeng Zhao replied:

We only offer leveraged products in places where it’s allowed; if it’s not, we don’t offer them.

He went on to clarify that Binance asks prospective traders the following, among other questions, “Do you think there’s a more than 50% chance you’ll make money?” If they say ‘yes’, Binance does not allow them to use the product. What’s more, if they do use it and lose money, the exchange stops them from trading for certain periods of time.

Asked how long he thought the current downcycle in crypto would last, he said no one knows, but historically, each cycle lasts four years. 2013, 2017, and 2021 were strong years. He did provide a disclaimer:

Just because history is like that doesn’t mean the future is like that.

The host persisted, reverting to the previous subject:

You can find the ‘right’ answers to all the questions on Reddit. Isn’t it more reasonable to say, more likely than not, people are going to lose money on leveraged products? It would lead to more stability and not draw the ire of regulators at the same time?  

CZ disagreed, pointing out that leveraged products also exist in regulated markets and leverage can hedge against price fluctuations. Speculators do exist, but they exist everywhere, including in traditional stock markets.

The post Binance CEO: Current crypto downturn could last 4 years  appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

124 +