HomeBitcoinAccording to Binance's CEO, the worst of the cryptocurrency crash is "probably...

According to Binance’s CEO, the worst of the cryptocurrency crash is “probably over.”

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Changpeng Zhao, CEO and creator of cryptocurrency exchange site Binance, says:

“I think the worst is probably over. We’ve seen a pretty significant drop.”

When examining the current price dip in the sector, which some are calling a full-fledged cryptocurrency crash.

On cryptocurrency exchanges and cryptocurrency loans, Zhao warned that only organizations that operate with long-term customer incentives in mind, rather than short-term customer motivations, will be able to withstand the test of time. time.

“It’s not a true business strategy if you only obtain consumers because you utilize incentives to entice them. You’ll eventually run out of money and crash ”

As Coindesk observes, Zhao has a point.

This Friday, the bitcoin industry is attempting to regain ground. Bitcoin is currently trading above $21,000, and Ethereum is trading above $1,100.

Binance temporarily banned BTC/USD bitcoin withdrawals last week.

Celsius also banned withdrawals and transfers last month, citing “severe market circumstances.”

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