Binance CEO says that they will kick of 2020 with a bang

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Binance CEO says that they will kick of 2020 with a bang

Binance, the global blockchain company behind the world’s largest digital asset exchange by trading volume and users, and WazirX, India’s most trusted bitcoin exchange, today announced a joint initiative “Blockchain for India” to support the development and growth of blockchain startups in India.

In 2020, Binance acquired WazirX with the vision of promoting the use and adoption of blockchain technologies in India. Today, we are happy to announce that Binance and WazirX have jointly set up a USD 50 million Blockchain for India fund (backed by BNB, BUSD, and WRX digital assets) to incubate and invest in blockchain projects and startups focused on solving industrial and social problems through the use of blockchain technology.

Given the incredible tech talent that India has to offer, this fund will help fuel the growth of many Indian blockchain startups and entrepreneurs and encourage the sustainable growth of the blockchain startup ecosystem in India. The investments will include, but not limited to, fiat-to-digital assets gateway solutions, trading platforms, payment, and remittance solutions, digital asset wallets, stablecoins, DeFi platforms, decentralized applications (dApps) and more.

Nischal Shetty, Founder and CEO of WazirX, said “We started WazirX with the aim to involve everyone into this technology revolution, and the Blockchain for India fund marks a big step in this direction. India has the biggest tech talent pool in the world. With this fund, we want to encourage and enable more and more founders and teams to come in and BUIDL. This initiative also shows the incredible potential that the Indian blockchain ecosystem has to offer. Apart from funding transformative blockchain projects in India, we look forward to collaborating with other investment funds to grow the ecosystem even further.”

The Blockchain for India fund will make investments in both equity and tokens, ranging from USD 100,000 to USD 5 million. The fund will also partner with venture funds in India that are actively investing and supporting the blockchain ecosystem. Additionally, the initiative will look to provide mentorship and support to universities and student organizations interested in setting up university blockchain technology incubators.

Under the Blockchain for India initiative, the selected startup founders and teams will get direct access to Binance’s global blockchain ecosystem comprising of Binance Chain, Binance Cloud, Binance DEX, Binance Launchpad, Binance Research, Binance Academy, Binance X and Binance portfolio companies, such as WazirX, DappReview, Trust Wallet and more. They will not only benefit from knowledge and resource sharing but also receive direct mentorship from other founders and leaders within Binance.

“Let’s invest in India,” said Binance CEO and Founder Changpeng Zhao (‘CZ’).

Projects interested in inquiring about, and applying to the fund, please write to [email protected] with your project information and business presentation.

Additionally, the team is calling on talent from various areas to join the fund with a background in venture capital and/or blockchain research. The team is also looking for advisors to join its advisory committee; industry leaders or experts in blockchain technology, business development, and government relations are welcome.

Bloomberg

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Last Year Was Tough, But We Will Kick Off 2020 With a Bang – Says Binance CEO

The last year 2020 has been a tough year for cryptocurrencies. Valuations are down 80% (and even more) and critics are claiming that a funeral is coming soon. However, not everyone has the same feelings. Presidents of many large concerns, both within and without the crypto universe, have spoken out about the long-term viability of cryptocurrencies and the innovative benefits of blockchain technology.

The opinion of Zhaoa

One of the optimists is also Changpeng Zhaoa (known in the community under the nickname CZ) CEO of Binance, In a recent interview for Bloomberg, Zhaoa expressed his confidence in the industry and dispersed all worries going forward. Zhao is the founder and CEO of Binance, a fiat currency exchange that, by volume, is the world’s largest crypto-exchange. The 24-hour trading volume within Binance recently stood at USD 1.1 billion.

Zhao also has his entire investment portfolio in crypto-assets, valued at over $2 billion earlier this year. He has neither strayed from his path, nor does he regret any losses he has suffered. He has been in the cryptocurrency business for the long haul, which he claims will be bright and prosperous in the future.

The last two years have witnessed the entry of both futures trading, along with traditional investors jumping over one another into the crypto space, which gave birth to the term “FOMO” (Fear (Of Missing Out). Zhao thinks more long-term:

„I think people in the industry are still very confident about the future. So, there are no worries about that. There will always be speculation, which will cause the price to fluctuate… Last year, it fluctuated upwards too much, and now we are in a correction phase. But the long-term industry is sustained by real applications and real use cases of cryptocurrency, and a lot of people are building. So, that’s happening regardless where the price moves“

During the Bloomberg interview for Bloomberg, he also made these points:

  • None of our plans changed. We are still pushing forward, very aggressively.
  • Binance will roll out ten more fiat-crypto exchanges as well as the company’s first decentralized exchange.
  • Binance welcomes regulatory involvement within the cryptocurrency space from all governments around the world, as long as there is sufficient clarity to combat the present uncertainty.

In CZ’s opinion, good and sensible regulations will promote rather than be an obstacle for further innovation.

“2020 has been a tough year in terms of cryptocurrency prices. And we will se a lot of projects not doing good it this year, so it’s a correction year. But technology will stay, and we want to kick off 2020 with a bang.”

Zhao is not the only CEO of exchange to speak out about the bright potential of cryptocurrencies. His words are reminiscent of those of Brian Armstrong, president, and co-founder of Coinbase. Last June, Armstrong said to his staff: “I want to encourage you all to ignore the price of crypto and the headlines which will inevitably start to come up. Our job is to rise above that, finding our own intrinsic source of motivation, to come in and do our best work, regardless of what other people think.”

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More about the author J. Pro

Unlike Stephen (the other author) I have been thinking mainly about online business lately. I wasn’t very successfull with dropshipping on Amazon and other ways of making money online, and I’d only earn a few hundreds of dollars in years. But then binary options caught my attention with it’s simplicity. Now I’m glad it did because it really is worth it. More posts by this author

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