CZ's FAQs

In the past week, it’s been difficult to escape the UST/LUNA crash. In fact, every interview I participated in revolved to some extent around the situation. To clarify my thoughts on the topic, I’ve collected my answers together, including my views, lessons learned, spillover effects, systematic risks, resilience, regulations, and more.

​This article is a part of the “CZ’s FAQs” series. Opinions expressed here are personal opinions and do not represent Binance’s official position. It is not financial advice.

Now Covid is a little bit in retreat, I’m able to get out more and meet people face-to-face, which I love to do. I get asked many questions, but one of the polite questions people often ask me during a conversation is what makes Binance so successful? Of course, there is a lot to unpack, so I wrote it down. Let’s start with getting a few common misconceptions out of the way.

The real world is a gradient scale on multiple vectors, but it is still very simple. Good regulations will be good for crypto. Bad regulations will be bad for crypto. Having good regulations that protect consumers while encouraging innovation is important for growth of the industry.

One Coin to Rule Them All? Or Millions of Coins? Check CZ's FAQ post on issuing coins.

People ask me about Central Bank Digital Currencies (CBDCs) quite often nowadays. Will they replace Bitcoin? What’s the impact? And so on. Here is my view on it as I think ahead about 2022 and beyond. Overall, I believe CBDCs are very positive for the crypto industry, but with a few caveats. Let me start with the benefits I see of CBDC and what they can bring to the crypto industry.