Changpeng Zhao refuses to add stock trading service to Binance
- July 18, 2022
- 0
Binance bills itself as a “pure” Web3 company that is not interested in adding stock trading to its product line. This was stated by Changpeng Zhao, CEO of
Binance bills itself as a “pure” Web3 company that is not interested in adding stock trading to its product line. This was stated by Changpeng Zhao, CEO of the bitcoin exchange, in an interview with Decrypt.
The top manager did not evaluate the platforms on which management decided to take this step. According to him, such an option goes against the Binance philosophy.
Zhao stated that despite the lucrative nature of stock trading, he prefers to focus more on building Web3 tools.
“We don’t go back, we go forward.‘, he explained.
Binance CEO revealed that the bitcoin exchange is looking at several companies as potential acquisition targets during the bear market.
According to Zhao, deals will be simpler than complex credit structures or acquisitions. He explained that Alameda Research will never follow the path it has chosen with the support of Voyager Digital.
Earlier, the Binance CEO said he has spoken to more than 50 companies to “save” them.
Recall that from October 14, 2021, the bitcoin exchange stopped supporting tokenized shares.
This was preceded by pressure from regulators in the UK and Germany, who began checking the service’s compliance with local regulations.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
