Binance CEO: Current crypto downturn could last 4 years 

Binance CEO: Current crypto downturn could last 4 years 
фото показано с : invezz.com

2022-6-10 17:20

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.

Leveraged products draw the ire of regulators

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.

Sifting prospective traders

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.

Bull cycles in crypto are every 4 years on average

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 »

Open Trading Network (OTN) на Currencies.ru

$ 0.0064948 (+0.67%)
Объем 24H $0
Изменеия 24h: 1.44 %, 7d: 12.76 %
Cегодня L: $0.0064948 - H: $0.0064948
Капитализация $13.149k Rank 2181
Доступно / Всего 2.025m OTN / 100m OTN

trading binance exchange crypto program explain went

trading binance → Результатов: 126


Фото:

Binance spot trading plunges 70% following regulatory pressures and reintroduction of Bitcoin fees

Binance’s spot trading volume reportedly declined nearly 70% during the second quarter after the exchange reintroduced fees for its most liquid Bitcoin (BTC) pairs, per data from Kaiko. In March, the exchange abandoned its Binance USD (BUSD) zero-fee trading for TrueUSD (TUSD) due to the regulatory challenges facing the BUSD stablecoin.

2023-7-3 20:25


Kimchi Premium Turns into A Discount, Binance Removes Korean Won Trading Pairs & Trading Options

The good thing is that spikes in Kimchi premium are the ones that mark the market top. As for Binance, it just wants to “proactively comply with local regulations.” The post Kimchi Premium Turns into A Discount, Binance Removes Korean Won Trading Pairs & Trading Options first appeared on BitcoinExchangeGuide.

2021-8-14 15:51


New ‘Block Trading’ Service Launches by Binance for Traders Wanting to Make Big Crypto Buys

Binance, which is the world’s largest cryptocurrency exchange by trading volume, has worked to offer more and more products to consumers that give them the most out of their trading experience. Now, the company is offering an over-the-counter service that they are calling “block trading,” according to a new blog from Binance directly. According to […]

2019-7-27 01:02