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Tuesday, November 13, 2018

Binance takes aim at the billionare investors CoinBase failed at landing...

Changpeng Zhao, known in the crypto world as "CZ" is a Chinese-Canadian business executive and the founder and CEO of Binance, the world's largest cryptocurrency exchange by trading volume.

Speaking to the hosts of "Crypto Trader" a show that airs on CNBC's South African network, he shared his mindset on why he's patiently waiting for the next Bitcoin bull run - not wondering if it will happen, but only when.

"Even if I don’t know what will catalyze a bitcoin bull run, I am certain it will happen... Sooner or later, something will trigger it." says CZ.

Also adding that while it's been a bear year for the markets - Binance is doing just fine, saying:

"Compared to January, we are probably down 90 percent. So we only have one-tenth of the trading volume compared to what we had in January. But, compared to like a year or two years ago, we’re still trading at huge volumes. Business is still okay, we are still profitable, and we are still a very healthy business"

The next thing to watch from CZ is if Binance's attempt to target large institutional investors will be a success.

It's a task CoinBase just failed at. They believed their crypto index fund would be the key to that opens the door and lets the large institutional investors into the crypto markets - but the fund was launched and then canceled all within a 4 month period.

Nonetheless, CZ and Binance believe they've figured out what institutional investors really want, and recently announced their plans to go after them on their blog.

Ironically, if he pulls it off - he could end up being what triggers the next bull run.
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Author: Adam Lee 
Asia News Desk