CZ Recommends Diversifying Investments Even if He’s “All in” Crypto and Bitcoin

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Binance CEO Changpeng Zhao took to Reddit earlier today to discuss a variety of topics, including investment advice he gives but doesn’t necessarily follow.

When it comes to investing, I’m not a good example. I don’t diversifyZhao said. “I recommend most people to diversify. But for me, I’m all about Binance.

He added that he is all in crypto, BNB and BTC. I use my Binance card everywhere I go.

The 44-year-old man, who previously worked at Tokyo Stock Exchange developing trading systems and Bloomberg Tradebook on futures trading systems, launched Binance in 2017. According to Forbeshe has a total 30% stake in the company and is currently the 19th richest person in the world, with a net worth of $17.4 billion.

In a wide-ranging AMA – which apparently got scrapped shortly after it ended – Zhao answered a variety of questions, including Binance’s decision to trade LUNA despite its collapse, how Binance handles user funds, and the future of Binance Chain.

In response to a question about why Binance resumed trading LUNA, Zhao explained that it was halted due to validators shutting down the network. He added that it was Binance trading that put pressure on validators to resume.

We briefly suspended trading when validators suspended the blockchain, even that caused a lot of complaints,” he wrote. “But I believe our action forced the validators to take over the network within hours.

Zhao also pointed to the general lack of bias in the markets.

“Finally, no one is forcing anyone to buy just because the trade is in progress. There are high-risk buyers who are ready to take over from the sellers,” he said in the AMA. The market is neutral.”

To a question about the centralized nature of the Binance Chain, Zhao responded that its low number of validators helps achieve faster transactions. He also said that he was not involved in such decisions, but would speak to the channel’s main developers.

“My limited technical understanding is that there is a tradeoff between a certain number of nodes and performance at this stage in the evolution of our blockchain,” Zhao said.

Regarding user funds on the world’s largest crypto exchange by volume, Zhao clarified that these are never mixed with the company’s operational funds. In the event of bankruptcy or similar event, he promised that “Funds would be returned to users first, before shareholders.

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