News

Binance CEO Expects Countries With No Currency To Add Bitcoin To Reserves

When asked if countries should add cryptocurrencies like Bitcoin to their reserves in the future, Binance CEO Changpeng Zhao said yes.

Zhao responded that he expects countries that do not yet have their own currencies to do so. Zhao speaks at a Binance event in Athens:

“I think most governments now understand that adoption will happen regardless. It’s better to regulate the industry instead of trying to fight against it.”

The FTX bankruptcy has left an estimated 1 million creditors facing billions of dollars in damages. Nonetheless, Binance CEO predicted that the sector would revive.

“I think now we see the industry is healthier… just because FTX happened it does not mean that every other business is bad,” he said.

When asked if he anticipated governments to add cryptocurrencies like Bitcoin to their reserves in the future, Zhao said he expected them to start, particularly those that did not have their own currency. He said:

“The smaller countries will start first, I think.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Bitcoin Trading Volume Skyrockets to $145 Billion as Retail Investors Return

Bitcoin trading volume has surged to an all-time high of $145 billion in the last…

33 minutes ago

Italy Considers Reducing Proposed Italy Crypto Tax to 28%

Italy considers lowering its proposed Italy crypto tax increase to 28% from an initial 42%,…

4 hours ago

Bitcoin Spot ETF Inflows Reach $818M Amid 5-Day Positive Streak

Bitcoin Spot ETF Inflows Hit $818M as Net Inflow Streak Extends to 5 Days, with…

4 hours ago

Elon Musk Invests $200M in Trump, Treats Government Like X (Twitter)

Elon Musk applies his X (Twitter) management style to politics. His political strategies, including voter…

5 hours ago

PayPal Stablecoin PYUSD Now Available for Cross-Chain Trading via LayerZero

PayPal stablecoin PYUSD can now transfer seamlessly between Ethereum and Solana via LayerZero.

6 hours ago

New Department of Government Efficiency Will Be Led by Musk

President-elect Trump plans to establish the Department of Government Efficiency, led by Elon Musk and…

7 hours ago

This website uses cookies.