DeFi is here to stay despite signs of a bubble, says Binance CEO

DeFi is here to stay despite signs of a bubble, says Binance CEO


Changpeng Zhao, the CEO of the world’s largest cryptocurrency exchange Binance, said that decentralized finance is here to stay despite many DeFi projects showing signs of being in a bubble.

In a Nov. 17 interview with Russia’s news agency RBC, Zhao argued that “a lot of DeFi projects are already in a bubble, and I also believe that there are some signs of a bubble in the DeFi industry, but this does not mean that DeFi will eventually disappear entirely.”

Zhao went on to say that the DeFi industry has a lot of potential for growth, noting that DeFi still remains popular amid an ongoing Bitcoin (BTC) rally. The executive also stressed that initial coin offerings, or ICOs, were referred to as a bubble back in 2017, but a number of ICO-born projects — including Binance — are still doing great:

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“Companies create new tokens, issue them as a reward. This is not a long-running story. But I

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