By Nina Kikava - News - 4 weeks ago

“Correction Year” For Crypto

According to a Bloomberg interview with CEO of Binance Changpeng Zhao, that was published on December 19, 2018, was called “correction year” for cryptocurrencies. The comment was made regarding the recent breakdown of the crypto market, which took place in November.

As the interview states, Zhao thinks that the only way that the industry will go further is, if companies like Binance or all the other, make it more possible for crypto to gain more adoption in various fields in the world. Companies creating applications and projects that are important are the ones who will make the industry work.

When asked about specifically about Binances reaction on all of the events happened in November regarding price crash, he stated, that Binance is planning on developing fiat exchanges in next month and ten more next year. He claimed:

“None of our plans changed, we are still pushing forward very aggressively.”

He also added that governments should make more clear regulations for crypto in multiple countries because there is a lot of uncertainty in the field. The regulations that will be developed, should help crypto companies and all this industry to go further and create more innovations, instead of completely crashing it.

Binance also has an innovation side apart from traditional exchange platform that is called Binance Labs. It has launched the Incubator Program earlier this year. Binance also has a philanthropic wing in the company and they launched a charity campaign in order to help the youth of Malta and Gozo.