CZ "BNB Chain, rapid growth this year… trading volume up 600% year-on-year"
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- According to Changpeng Zhao, BNB Chain's on-chain trading volume has increased by about 600% compared to a year ago, showing strong growth this year.
- Changpeng Zhao said the stablecoin market has already grown into a massive business, and recently 'stablecoin 1.5' with built-in revenue-generation mechanisms has emerged.
- Changpeng Zhao said he is conducting cryptocurrency industry advisory and discussions with governments of more than 12 countries, including the United Arab Emirates (UAE) and Pakistan.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Changpeng Zhao (CZ), founder of the global cryptocurrency exchange Binance, said, "This year, on-chain trading volume on the BNB Chain has increased by about 600% compared to a year ago."
According to industry sources on the 25th, Changpeng Zhao said this during a recent AMA(Ask Me Anything). Changpeng Zhao said, "The BNB Chain has shown very strong growth this year," and added, "The BNB Chain's trading volume is now among the industry's highest." The BNB Chain is Binance's own blockchain.
Changpeng Zhao noted that "the BNB Chain had been somewhat undervalued for several years." He said, "We put more effort into the BNB Chain this year, and the results are clear," adding, "Almost every project that succeeds goes through a period of skepticism early on." He also said, "The core strategy of the BNB Chain has always been clear," and that the strategy is "to build with a long-term perspective and support real developers."
He also mentioned the pardon granted by U.S. President Donald Trump this year. Earlier, President Trump pardoned Changpeng Zhao in October. Changpeng Zhao said, "After being pardoned, I felt a great psychological relief," adding, "It essentially felt like I could move forward without a burden on my mind." He also said, "The past two years have been like a roller coaster," and added, "(Even after the pardon) my practical way of life did not change significantly."
He offered a view on the stablecoin industry as well. Changpeng Zhao said, "Stablecoins are forming a tremendous market," and emphasized, "What we are currently seeing is mostly 'stablecoin 1.0'." He said, "Stablecoins have already grown into a huge business, but most of today's mainstream stablecoins do not provide yields," and added, "Now 'stablecoin 1.5' with revenue-generation mechanisms built into the design is emerging." He added, "Users want stablecoins that make trading easy and can generate reasonable returns."
He also mentioned government advising. Changpeng Zhao is known to be providing consultation related to the cryptocurrency industry to countries such as the United Arab Emirates (UAE) and Pakistan. He said, "I have had both formal and informal discussions with government officials from more than 12 countries," and added, "Their main concerns are regulatory frameworks, how to attract the cryptocurrency industry, and what governments should and should not do."
