Binance CEO Changpeng Zhao Says FTX Collapse Will Benefit Crypto Industry in the Long Term – Here’s Why

Binance CEO Changpeng Zhao Says FTX Collapse Will Benefit Crypto Industry in the Long Term – Here’s Why


Binance CEO Changpeng Zhao says the FTX collapse is not going to destroy the crypto industry but it is a setback.

In a new interview with CNBC, Zhao says the FTX collapse that sent crypto markets trading downward and emboldened skeptics is only a temporary issue on the road to a healthier industry.

“This incident will set us back a bit, but then the industry will become healthier. So it’s actually better in the long run.”

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CNBC asks Zhao if crypto projects are a “house of cards” and if price projections are overblown. Zhao defends the integrity of the space, saying the technology holds great promise and the crypto market will only continue to grow with innovation.

“I don’t think it’s a house of cards.

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