“I mentioned there are cyclical loans with interest and leverage in crypto”, said Changpeng Zhao on Twitter
According to a writer who covered the event, Zhao said that he doesn’t expect any more price drops for crypto in the near future.
Image courtesy:cz_binance/Twitter
The CEO of Binance, Changpeng Zhao on Twitter said that at the Point Zero Conference which happened in Zurich two weeks ago, he mentions that there are cyclical loans with interest and leverage in crypto.
“2 weeks ago at Point Zero Conference In Zurich, I mentioned there are cyclical loans with interest and leverage in crypto, now we begin to see some of them come to light,” Zhao tweeted.
2 weeks ago at Point Zero Conference In Zurich, I mentioned there are cyclical loans with interest and leverage in crypto, now we begin to see some of them come to light.
— CZ 🔶 Binance (@cz_binance) July 7, 2022
According to a writer who covered the event, Zhao said that he doesn’t expect any more price drops for crypto in the near future.
Zhao on the topic of crypto exchanges and crypto lenders warned that only businesses operating with sustainability in mind, and not short-term customer inducements, will stand the test of time.
“If you’re only getting users because you’re using incentives to attract users, that’s not a real business model. Eventually, you’re gonna run out of money and you will crash,” said Zhao, as reported by Coindesk writer Handagama on Twitter.
