Published
5 years ago on
January 07, 2019
The CEO at one of the largest cryptocurrency exchanges in the world, Changpeng Zhao of Binance has recently made a note on Twitter regarding the volatility of the market moving in the right direction.
In the tweet to his somewhat 267k followers, he said:
Finally, wish came true, volatility in the right direction.
— CZ Binance (@cz_binance) January 7, 2019
The comments from CZ come in response to the Bitcoin price going up by about five percent which pushed it over the $4,000 mark over the past 24 hours. On top of the significant increase in the price of Bitcoin, there were some other big digital currencies which went up along with it.
As reported by Crypto Insider, the CEO welcomed the volatility for the price with open arms whilst also responding to user concerns in regards to Bitfinex’s scheduled maintenance-related downtime. CZ seems to feel responsible for reassuring Bitfinex customers, despite having his own exchange to maintain in the meantime. On the Bifinex official Twitter account, they announced that the trading platform would be going offline on 7th January for up to seven hours.
The management team at Bitfinex’s stated that the exchange is currently going under the completion of “the final stage of [its] data migration to dedicated bare-metal servers, in a move designed to significantly enhance platform speed, security and performance.” It’s worth mentioning that the last time Bitfinex went offline for maintenance reasons, there was some massive volatility in the crypto prices.
During an interview on 19th December 2018, CZ sat down with Bloomberg TV and said, "2018 has been a tough year in terms of the pricing for cryptocurrency, and I think we see a lot of projects not making it this year. So, it's a correction year. But the technology was there, and we want to kick off 2019 with a bang.”
In order to bring in a more mainstream appeal for blockchain technology and crypto, CZ said that the Malta-based exchange would be hosting the Binance Blockchain Week. This is an event which will occur from January 19th-22nd in Singapore. CZ was also asked about how willing he would be to expand Binance during the bear market to which Zhao said:
Investment Disclaimer“Our strategy has not changed [because of the bear market]. We've launched one fiat exchange [in 2018] ... we still want to build 10 more fiat exchanges, and we are also launching our decentralized exchange, which is a very core blockchain technology based exchange. That will also allow much more freedom. None of our plans have changed. We're still pushing forward very aggressively.”
