CEO Binance: Criticizing Bitcoin, Donald Trump provides a crypto-industry service
This Tuesday, Binance CEO Chungpen Zhao discussed with CNBC the recent comments of U.S. President Donald Trump on the cryptocurrencies. According to Zhao, criticism of Bitcoin and Libra from Trump will only benefit the industry.
"Trump hasn't done anything good or bad yet. He just said he wasn't a fan of crypto-currency. The very fact that he writes about it, the U.S. president speaks about cryptocurrencies is good," Zhao said.
According to the head of Binance, even the "worst-case scenario" in which possession of cryptocurrencies would be illegal in the U.S., would not destroy the industry.
"Cryptocurrencies will survive, regardless of any country," he says. - In most of the countries where the authorities have tried to ban Bitcoin, residents have only become more eager to acquire it.
Zhao also mentioned a hacker attack in May in which 7,000 BTCs were stolen from Binance's hot wallets, calling the incident "deplorable", but still "absolutely feasible" for the exchange.
"Banks break in, but they don't report losses. They get billions of dollars in fines," Zhao added. - However, the cryptocurrency industry is more transparent and this is good for users because they now know what's going on.
good news are you confirm?
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