Binance’s CZ Only Holds Crypto and Have no Dollars

Binance CEO Changpeng Zhao (CZ) has spoken about this crypto industry. Explaining his view on this, he has said that this asset investment is an asset as well as a currency. He said that the crypto sector will continue to grow despite the recent volatility.

The crypto market has been witnessing a period of volatility for the past few months. The world's most popular cryptocurrency Bitcoin is struggling on the $30,000 mark. In his interview given to CNBC, Binance CEO CZ told that he does not have any fiat currency i.e. no dollars. 

They only have crypto. CZ said that cryptocurrencies and fiat currency cannot be interchanged, but digital currency can be used to buy things. He said I don't have dollars. Whatever it is, it's in crypto. So when I need to spend money, if need be, I have to spend some part of crypto.

On Wednesday, Binance's investment arm Binance Labs raised $500 million for its first start-up fund to construct withinside the Web3 ecosystem. It became the present-day pass through the large to guide incubated, early-stage, and late-stage-boom Web3 companies.