“‘I think the worst part is probably over. We’ve seen a pretty sharp drop.’”
That’s Changpeng Zhao, CEO and founder of crypto exchange Binance, discussing the recent skid in crypto prices, which some are labeling a full-scale crypto crash. Zhao’s comments were documented by Coindesk cryptocurrency writer Sandali Handagama. The event did not release video of the panel speeches of the conference.
While speaking at the invite-only Point Zero Forum conference in Zurich, Switzerland on June 22, Zhao — a Chinese-Canadian executive commonly identified as “CZ” — said he doesn’t expect any more major price drops for crypto in the near future, according to a writer covering the event. See also: California is sending ‘inflation relief’ checks up to $1,050 — here’s who qualifies On the topic of crypto exchanges and crypto lenders, Zhao reportedly warned that only businesses that operate with sustainability in mind, and not short-term customer inducements, will stand the test of time. “If you’re only getting users because you’re using incentives to attract …