The CEO of the largest cryptocurrency exchange in the world, Binance, has recently opened up about the issues associated with cryptocurrency regulations. Many investors have pointed out the ambiguity of legislative clarity for digital asset trading. At present, the Binance exchange is facing a considerable amount of regulatory pressure from centralized governments.
Furthermore, Changpeng Zhao has also announced that he would like to donate a massive portion of his total income to charity causes. He recently told the media that he does not need to accumulate massive wealth to maintain his current lifestyle. GZ claimed that he is considering dedicating 90%, 95%, or 99% of his income to the causes.
The CEO of Binance, CZ, has claimed that he does not hold a lot of tokens in his possession. He told the media during an interview that he only has Bitcoin and Binance tokens and deliberately opted against investing in any more cryptocurrencies. He also clarified that he has not invested in any non-crypto entity and claimed that it was to ensure a neutral stance for running Binance.
CZ also claimed that he does not advise other people to follow his example and refrain from diversifying their investment portfolio. In the current year, the net worth of CZ has been valued at $2 billion. He claimed that he wants to follow the example of billionaires like Rockefeller and Bill Gates and donate a considerable portion of his wealth to charitable causes.
Investors Avoid Crypto due to Volatility and Regulatory Uncertainty
CZ also commented on the issue of crypto market regulations. He pointed out that many investors stay away from cryptocurrencies due to their volatility. He pointed out that some investors enjoy the rewards that risky trading offers. CZ clarified his stance on the meme coin mania. He claimed that Dogecoin has existed in the market for a long time and it is going to spark more satirical tokens.
He also acknowledged the decentralization benefit that these tokens provide. CZ pointed out that a considerable amount of investors refrain from investing in cryptocurrencies because these are almost impossible to be written into the will. He explained that currently, no technology allows the heirs of a deceased person to benefit from their cryptocurrency investment.