The entire notion to clampdown on cryptocurrencies, particularly Bitcoin, got discarded.
The CEO of the topmost crypto company, believes that the more attempts to curb cryptocurrencies, will result in boosting it and make it popular among citizens.
Harsh criticism against cryptos, specifically Bitcoin, will ultimately result in a positive outcome for the industry.
The CEO of Binance, Changpeng Zhao, the globe’s largest crypto exchange where trading volume is concerned, said in an interview with CNBC, that despite the fact that world leaders, particularly President Trump made critical remarks about the virtual asset enterprise, his statements had no effect up to now which caused the industry any damage.
Zhao is of the opinion that the topmost hierarchy in power is boosting cryptocurrencies positively. He said that regardless of any single country, cryptocurrencies will survive.
He added that the majority of countries which attempt to banish bitcoin, will cause a greater desire among its citizens in wanting the cryptocurrency.
Zhao is not worried about President Donald Trump’s comments who in the recent past stated that he is no admirer of Bitcoin as well as other cryptocurrencies. He added that these currencies are not money & that it is based upon thin air.
He slapped cryptocurrencies because of its prospective vulnerability to be used for illegal activities like drug dealing. However, Zhao stated further that regardless whether Trump banish cryptocurrencies in the USA, the asset category will still be surviving.
Zhao said that thus far Trump did not done a positive or negative thing. He just stated that he is not an enthusiast. He added that only the fact that the American president had tweeted about the cryptocurrency, is a positive thing in itself.
Furthermore, the CEO of Binance acclaimed the cryptocurrency’s transparency, whilst he stated that the current bank systems could easily be hacked, while it lacks transparency. The setups of cryptocurrencies based upon blockchain technology are more transparent, which is good for customers, as they can get clued up about what is going on.
He went on, mentioning an incredible concept how to deal with the administration of any country. He said that at first they will be ignoring you, after that they will be laughing at you, after which they will be fighting you and then you win. He added that all just accomplished the 3rd step.