The founder and CEO of cryptocurrency exchange Binance Chanpen Zhao, answering a question of market volatility digital assets, told a story about how in 2014 sold his home and invested all the proceeds in bitcoin at $600.
Then the price plummeted to $200, however, according to Zhao, he did not sell even then.
“You know, after this I’m not very worried” — he said in a speech at the conference, Consensus Singapore.
Zhao said that during the year Binance plans to open 5 to 10 cryptocurrency trading platforms that support Fiat money, ideally two on each continent.
“All the money still in Fiat… We have to open that gate” — he added.
Binance intends to co-operate with small countries, because government agencies are there supposedly to work more effectively and appreciate the contribution of the cryptocurrency business into the local economy.
Zhao also revealed the income of the platform in the second quarter and $150 million Note that this is $50 million less than first quarter.
We will remind, this week Binance started the closed beta testing of the trading platform with the support of Fiat in the jurisdiction of Singapore.
Was previously signed a Memorandum of understanding between the Stock exchange of Malta and Binance, in accordance with which will run the trading platform to trade the tokens with the properties of securities.
In August the company launched a joint trading platform Binance and Liechtenstein LCX with the support of the Euro and the Swiss franc. Soon Chanpen Zhao said that in the near future the market will come back speculators, and prices of the cryptocurrency will recover.
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