Crypto Bearmarket Has Binance Treasure Hunting

Speaking with Yahoo! Finance, CEO of the world’s largest cryptocurrency exchange Binance, Changpeng “CZ” Zhao, said that his firm is considering takeover and other opportunities in the crypto market.

With the crypto downslide providing good bargains for a powerhouse like Binance, the CEO confirmed it has 50-100 deals on its target right now. He said:

“We actually see a lot of opportunity in the market. So we’re increasing our hiring, increasing our [merger and acquisition] activities, we’re looking at lowering fees on our platforms so that we make it easier for our users during this period.”

Zhao also said that his firm has already penned a number of deals, however they consciously kept those away from the public eye:

“We have done quite a few already. The smaller ones we typically don’t announce. We respect privacy aspects of it. The larger ones we do tend to announce… Just because somebody doesn’t make news doesn’t mean there are no deals going on.”

Furthermore, the CEO made use of the opportunity to stress there should be clear regulatory guideline for cash reserves in the crypto space and called for more “transparency and disclosure.”