Binance CEO CZ said that centralized systems will continue to exist

In a hot seat half-joking video To draw an end to 2021, Binance CEO Changpeng Zhao (“CZ”) responded to a series of selected tweets from the Binance community.

The salient message of this China-Canada executive is that centralized exchanges like Binance will continue to play a role in 2022 and beyond.

CZ said to a tweet about the dark side of centralized finance and the future of decentralized finance: “Today, we still need to integrate centralized systems with the traditional financial industry so that we can bring funds in and out of cryptocurrencies. “

He mentioned that the cryptocurrency market is still an emerging industry, vulnerable to “hackers, Ponzi schemes and scammers.”

Keen readers will remember one of the legendary carpets of 2021, the Squid Game Token (SQUID), with its clock 45,000% profit before dumping. In early November, Binance Tokens used to track funds related to epic skyrocketing and falling.

Inevitably, when prompted to favor certain blockchain projects, even based on what a Twitter user said were “completely fake” coins, CZ bluntly recorded:

“Out of the approximately 6 million coins, Binance lists approximately six to seven hundred coins. Therefore, only one of the 10,000 coins ever created is listed on Binance. This is about 0.01%. This is a very small one. number.”

Although token selection is a question of no practical significance, stricter management of centralized exchanges (CEX) during 2021 has become commonplace. No stranger to compliance, Binance Turkey recently fined 8 million lire For non-compliance with anti-money laundering regulations, at the same time CEX is under pressure in August this year.

related: Binance completes acquisition of Swipe, paving the way for CEO to leave

In terms of group growth, Binance currently has more than 90 million users worldwide, dwarfing its “thousands of Binance people” team. 2021 is a blockbuster because Regulatory approvals in Canada and Bahrain It will bring Binance services to more crypto enthusiasts around the world.

In the meantime, CZ will continue Hoddle His two favorite coins, Binance Coin (Bitcoin) And Bitcoin (Bitcoin). He is ranked 36th among the top 100 celebrities on the Cointelegraph blockchain in 2021. He wishes everyone a Happy New Year and stated that he will “continue to process Binance user feedback in 2022”.