Binance founder and former CEO Changpeng Chao (CZ) answered questions from the community during a Chinese-language AMA (Ask Me a Question) event held at Binance Plaza.
CZ said that although he likes memecoin culture, he is not closely involved in memecoin trading. he, his focus is BNB Chain infrastructure to better meet users' investment and trading needs. He described the early advantage some investors had in the memecoin market as “a reflection of diversification,” adding that early entrants also take on greater risk, while latecomers need to do their own research. He added that he sees no need for third-party intervention at this stage.
CZ said that truly successful meme coins often have “historical anecdotes and stories,” adding that more than 90% of meme coins fail and investors should take responsibility for their decisions. He also said he doesn't want his posts or that of Binance co-founder He Yi to be over-followed by speculators, but he won't stop posting anyway.
CZ said short-term market movements (over the next three to four months) are unpredictable, adding: “Not even the president of the United States can predict this with certainty.” However, CZ argued that altcoin season is inevitable, pointing out that markets progress cyclically and transactions will not revolve solely around Bitcoin in the future. CZ said public blockchains, applications and infrastructure projects will continue to secure their place in the market, recalling that Bitcoin is essentially a “store of value” and there are no smart contracts.
CZ is optimistic about Bitcoin in the long term, but said, “Sooner or later it will reach $200,000. There is no peak signal yet.” he also BNB Note the stability of the ecosystem and the large number of active developers. Mr. CZ still has a large amount of assets. BNBAlthough he declined to provide a specific price target, he asserted that there is still room for upside.
CZ strongly added that new investors in particular should avoid futures trading. He said the potential losses due to high volatility and leverage could be huge, and reiterated that investors must do their own research and take responsibility for their decisions.
CZ said prediction markets could become an important area in the long run, but are currently in their infancy. Citing polymarkets as an example, CZ said there are currently only a limited number of strong market makers in the market, and uncertainty regarding regulation and competition remains.
CZ also touched on the possibility of the X Platform supporting crypto investments, reminding Binance Square users that they have already completed the KYC process and can trade directly. However, he noted that smart asset tags and trading features that X may offer in the future may require users to go through a KYC process.
*This is not investment advice.
