2023-01-30
As traditional institutions reduce the risk of cryptocurrencies due to the reaction to the collapse of the ecosystem in 2022, Binance CEO Changpeng "CZ" Zhao believes this move could have a negative impact on such traditional financial players.
The collapse of major crypto companies such as FTX and Terraform Labs has weakened trust among investors and forced traditional markets to reevaluate their strategies. To step into the Crypto ecosystem. While the reluctance of traditional financial players is a deterrent to crypto adoption in the short term, CZ argues that such a decision could have reverse consequences in the next two decades.
Ref. CZ 🔶 Binance on Twitter
According to CZ, over the next 10-20 years, traditional financial players who choose to slow crypto adoption will fall behind the adoption curve.
CZ and other crypto entrepreneurs believe the actions of actors like Sam Bankman-Fried have caused the industry to fall back for years, as he said that "regulators will properly investigate the industry more, which would be a good thing."
Source Link: cointelegraph
Photo Credit: Link
