![]() ![]() “Alright, will do 4, and ignore from here,” he said. ![]() On Wednesday, Forbes published an analysis including data from these firms which said that Binance is “bleeding assets,” losing 15% of its total since Dec. Multiple cryptocurrency data firms have also claimed that, like its peers, Binance is losing assets quickly as crypto prices fall. Coinbase, the largest U.S.-based crypto exchange, announced on Tuesday that it will lay off 25% of its workforce, with CEO Brian Armstrong saying the move was due to the prolonged bear market in the industry and a “broader economic downturn.” “We will continue to build and hopefully we will ramp up again before the next bull market.”īinance’s planned hiring spree comes as other major crypto businesses are pulling back. “There’s definitely damage, the industry will be fine,” CZ told CNBC at the Crypto Finance Conference in St. ![]() Despite the broad rout in the crypto space known as the Crypto Winter, CZ remains confident that his firm-and the whole industry-will weather the storm. Click here.Changpeng Zhao, better known as CZ, said on Wednesday that after increasing his firm’s headcount from 3,000 people to nearly 8,000 last year, he expects to add another 15% to 30% to that number in 2023. “Because we’re still in a really nascent period of building this whole finance system out.”įor the latest and interesting financial news, keep reading Indiatimes Worth. And you need to be prepared to hold it for quite some time,” Smith added. ’s CEO has said there’s more crypto destruction to come.ĬEO Peter Smith has said, “More pain is coming, more risk will be exposed, but ultimately, it’s a good thing for the decentralized economy.”Īs per CNBC reports, he says “For the crypto investor, the lesson from the past few weeks should be back to the crypto equivalent of the traditional market investing concept of dollar-cost averaging - slowly building a position in an asset over time so all your money isn’t exposed to any single bout of volatility”. Terra Luna was trading around $0.0001468 as of Thursday, as per a BusinessInsider report.Īlso Read: Despite Losing $5 Billion Net Worth, 'Crypto Robinhood' Says "Don't Worry, Market Won't Crash To Zero" His net worth as per Bloomberg Billionaire Index is $15.3 billion, and he has lost $80.6 billion this year.īinance CEO Zhao has also said "To lead by example on protecting users, Binance will let this go and ask the Terra project team to compensate the retail users first, Binance last, if ever," he tweeted. But its recent crash that almost eroded its entire value, saw its value shrink to about $2,200 this week.ĭespite his comments, Binance CEO Zhao definitely isn't broke or poor. Its Luna tokens were "never moved or sold" as of Monday, according to Zhao.īinance's Luna holdings were worth $1.6 billion in early April 2022 when the token hit its peak price. Binance had received these tokens in exchange for its $3 million investment in 2018 into the Terra network that crypto Luna is based on. CZ □ Binance May 17, 2022īillionaire Zhao has said that Binance, which is the world's largest crypto exchange, held 15 million luna tokens. This comes after his crypto exchange's investments in Terra Luna crashed from $1.6 billion just a month ago to about $2,200 this week, as per a report in BusinessInsider. Nearly two months after saying he’s ‘ really not that rich’, crypto exchange Binance's billionaire CEO Changpeng Zhao joked a couple of days back tweeting he was "poor again".
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