February 8, 2025
Binance CEO CZ predicts DeFi will overtake CEFI in next bull run

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Binance CEO Changpeng “CZ” Zhao has predicted that decentralized finance (DeFi) has the potential to surpass centralized finance (CEFI) in the next bull run.

During the September 1 Live X Space (formerly Twitter Space), headline CZ AMA, CZ shares his thoughts on the future of DeFi. “I think the more decentralized the industry is, the better,” he declared, adding that it won’t take long to take the top spot:

“DeFi is the future, with volumes between 5% and 10% of CeFi volumes, which is not small. […] The next bull run could make DeFi even bigger than CeFi.”

On June 9, Cointelegraph reported that the average trading volume on the top three decentralized exchanges (DEXs) increased by 444% within a 48-hour period, following legal action by the United States Securities and Exchange Commission (SEC) against centralized exchanges Coinbase and Binance. Went. , At the time of publication, the 24-hour trading volume on the DEX is $722,776,226.

CZ also shared his perspective on the recent dismissal of the lawsuit against the decentralized protocol Uniswap. “The Uniswap pitch was very positive, very reasonable and logical and clear. It’s great,” he declared.

On August 30, a US federal court dismissed a class action lawsuit against Uniswap and its CEO, foundation and venture capital backers, brought by plaintiffs who claimed the scam on the decentralized cryptocurrency exchange was due to Token. He had lost money.

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The judge dismissed the case because neither party could identify the scammers. Instead of suing the scammers for illegal solicitation, the plaintiffs were suing the defendants for what they said on social media.

During Spaces, someone recalled the judge’s ruling that developers cannot be held liable for misuse of their platform, which users believe is positive news for DeFi builders in the industry. CZ agreed and immediately praised the decision.

“Developers are writing code, that code is free speech. So the growth is really good,” CZ said.

He also talked about how every country should use cryptocurrencies, some with a more urgent need than others.

“Every country needs crypto, some countries need it more urgently than others. The need may be less in developed countries, but ten they are letting others lead the way. So if they want to keep the edge in terms of financial innovation, they will need to embrace it.

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Source: www.bing.com

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