Changpeng Zhao Ignored This One Market, Now It Is Worth Over $311 Billion
Changpeng Zhao (CZ) missed one of crypto's biggest markets. The Binance founder now admits he misjudged the stablecoin market for years.
He told the Talking Tokens Podcast that he wrote them off. Today those tokens are worth more than $311 billion.
CZ Says He Missed the Stablecoin Boom
Zhao spoke on the Talking Tokens podcast. He looked back at the calls he got wrong. Leaving Binance gave CZ time to study the market again.
Stablecoins are crypto tokens tied to the US dollar. Each one aims to stay worth about a dollar. Traders use them to move money fast, day or night.
He is blunt about what he got wrong.
"when I was running Binance, I actually kind of missed stablecoins. I didn't think stablecoins will get that big, but they actually have."
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A Temporary Patch Job That Became a Giant
Changpeng Zhao saw stablecoins as a quick workaround. He thought they only moved money between exchanges. He was wrong.
"I thought that was a temporary patch job technology just to bridge some transactions between crypto exchanges, but then got big…"
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