Binance CEO Comments on Terra and Celsius Fallout, Says Bitcoin and Crypto Crash Is Part of Normal Market Cycle

Binance CEO Comments on Terra and Celsius Fallout, Says Bitcoin and Crypto Crash Is Part of Normal Market Cycle


The CEO of the world’s largest crypto exchange platform says bear markets are a normal part of market cycles and offers his thoughts on the aftereffects of Terra (LUNA) and Celsius (CEL) collapsing.

In a new interview with Bloomberg Markets and Finance, Binance co-founder and chief executive Changpeng Zhao says digital assets are displaying normal market behavior despite the latest crypto market downturn.

“I think it’s pretty normal for markets to go up and down. It’s just normal market fluctuations. We see this in stock markets too, Netflix is down 70-something percent as well, so it’s just part of normal market behavior.”

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Zhao goes on to note that while the scale of the downfalls of Terra and Celsius were larger than expected, mass washouts

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