Bankless<\/a> podcast earlier today. The crypto billionaire reflected on several topics including the fear, uncertainty, and doubt (FUD) surrounding his crypto exchange, the collapse of FTX, the regulatory landscape in the United States, and the future roadmap for his company. Speaking on the FUD around his crypto exchange, Zhao stated that the sheer size of the company made it an easy target for news agencies that aim to attract clicks and generate buzz by publishing negative stories.\u00a0<\/p>\n\n\n\nWhen asked about plans to buy a bank in order to make it crypto-friendly, Changpeng Zhao revealed that his company looked into that option and did consider acquiring a TradFi bank. However, his company realized that the logistics and formalities would make it an unfeasible approach. Zhao revealed that buying a bank would still require it to comply with the regulatory policy of that jurisdiction. Additionally, the corresponding banks in the jurisdiction and abroad may choose to not interact with a crypto-friendly bank. <\/p>\n\n\n\n
However, the Binance Chief stated that his company may make small investments in a few banks and become minority investors, in a bid to guide their management towards becoming more crypto-friendly and having pro-crypto policies. Zhao added that such a move wouldn\u2019t guarantee a friendlier stance from the bank towards the crypto industry. Another concern that he pointed out was the business model that banks run on. According to Zhao, banks are risky businesses that don’t run on profitable and sound business models. Bloomberg reported last year that Binance is looking to pour in over $1 billion on deals in 2023, with a considerable portion potentially going toward the acquisition of a bank.<\/p>\n","protected":false},"excerpt":{"rendered":"
Binance CEO Changpeng Zhao recently revealed that his company plans to make investments into several bank. By becoming a minority investors, the exchange will try to guide the banks towards crypto friendly policies. <\/p>\n","protected":false},"author":62,"featured_media":582456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[108073,17,2,26],"tags":[125,1119,1236,48,4718],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/582454"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=582454"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/582454\/revisions"}],"predecessor-version":[{"id":582457,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/582454\/revisions\/582457"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/582456"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=582454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=582454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=582454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}