- Binance has shown itself to be among the most durable of the bunch.
- CZ reflected on the events of 2022 and Binance’s successes in a recent blog post.
Binance has gone a long way since its launch in 2017. By weathering the storm of the bear market and other turbulence, Binance has shown itself to be among the most durable of the bunch.
The whole cryptocurrency industry had a rough 2022. The industry has seen it all, from Terra’s collapse in May to FTX’s recent demise. “A letter from our CEO: 2022, the year of resilience” was the headline of a new Binance blog posted by Binance CEO Changpeng Zhao (CZ).
Dominance Over the Sector
CZ reflected on the events of 2022 and Binance’s successes in a recent blog post. CZ further said that there are more than 120 million customers that Binance serves throughout the world. Furthermore, the exchange CEO said that blockchain use has grown despite the chaos that beset the sector in 2022.
According to Zhao, the financial sector is primarily focused on developing and being user-oriented despite falling pricing and following initiatives. He was particularly pleased to see that these ideals had guided their actions throughout. CZ said that the company has expanded significantly, now employing over 7,500 people from more than 100 different countries and catering to over 120 million customers throughout the world.
Moreover, CZ also said that, when it comes to compliance and transparency, Binance will always be a frontrunner. He also emphasized the importance of compliance, transparency, trust, and security, citing the exchange’s publication of the Merkle tree proof-of-reserves and the disclosure of their hot and cold wallet addresses as examples.
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