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Binance Set to Thrive in Any Bear Market, CZ Hints at Future Partnership with Ripple

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by Julia Sakovich · 3 min read
Binance Set to Thrive in Any Bear Market, CZ Hints at Future Partnership with Ripple
Photo: Binance / Instagram

According to Changpeng Zhao, Binance CEO, his crypto exchange is ready to survive any bear market and it doesn’t matter how severe it would be.

While some crypto-related firms have serious doubts whether they have any future in the current market conditions, CEO of Binance is very optimistic and is absolutely sure that his cryptocurrency exchange will survive in any Bitcoin bear market.

Bitcoin Market: CZ’s Vision

Billionaire Changpeng Zhao who is the CEO of the above-mentioned crypto exchange believes that despite all the challenges Bitcoin has faced with, this cryptocurrency has a great future and will definitely reach wide adoption.

He is also sure that Binance won’t be seriously affected even by another year of a bear market. In his opinion, his crypto exchange that is the largest one in the world is going to stay at the market for at least 100 years and it doesn’t matter at all what may happen in the industry and how it may change in the future.

CZ noted that his team doesn’t pay much attention to all Bitcoin price fluctuations that take place daily. They have long-term goals and they are focused on them.

He said:

“Binance is very healthy financially and also very stable in terms of the team. Our aim is much longer than another year. Our aim is 10, 50, 100 years. So we’ll be here for a while.”

When asked about any potential ways of the market and industry development, CZ said that despite the fact that a lot of industry players now are going mad about ETFs, he doesn’t think that they are a key aspect for the industry. He also highlighted that Bitcoin market will definitely grow with or without ETFs.

He has been always impressed by the freedom the decentralized virtual currency offers and it is the main driving force of the industry.

Potential Partnership with Ripple

It was also revealed that Binance is considering a possibility to enter in a partnership with Ripple to enjoy the benefits of its cross-border payment platform xRapid. XRapid uses the world’s largest altcoin XRP to provide real-time liquidity and reduce the expenses that financial institutions should bear to operate in emerging markets.

Though Zhao said that this partnership is highly possible in the future, implementation of xRapid is not a top priority for the crypto exchange right now. CZ explained:

“We’re focused on launching more features right now, so we are working with a number of other partners. With xRapid, there’s nothing going on right now, but in the future we’ll definitely want to add them as a partner.”

Binance Achievements

Though Binance is doing rather well, its CEO is sure that they still have a lot to do in order to achieve the success that they really deserve. He stated:

“For Binance, our achievements and success so far are just ― I hope ― at the beginning, so I don’t view Binance as hugely successful.”

Let us remind that just recently it has become known that Binance’s native cryptocurrency, Binance Coin (BNB), managed to enter the top 10 major cryptocurrencies list, having gained 22% on February 5.

Altcoin News, Binance News, Bitcoin News, Cryptocurrency news, News
Julia Sakovich
Editor-in-Chief Julia Sakovich

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

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