CZ, CEO Of Binance: A Major Exchange Attacked Us When We Were Small
Binance’s CEO, Changpeng Zhao, recently explained how the largest crypto exchange in the world deals with attacks from other exchanges.
CZ lists several reasons why other exchanges picked on Binance; those include the fear of Binance’s rapid progress, fame-seeking, attempts to use the exchange for their growth, or even pure jealousy.
CZ also argues that these exchanges who originally wanted to either harm or use Binance, actually helped Binance grow bigger.
During its early days, when Binance was still quite young and unknown, a major exchange saw it as a threat and attempted to damage its developing reputation.
“When a big exchange attacks a small new one,”, CZ says, “There must be some threat posed by the newcomer. They also have a higher reach than us back then. It was great to have them spread the word for us. Our approach always: ignore, and work hard to become more successful ourselves. Best response!”.
CZ also mentioned the behavior of some crypto projects that went against Binance in the past, stating that they attacked because Binance would not list their token.
After refusing to cooperate, Binance was often called a “Scam,” or even “Illegal,” which led to the question: Why did they want their coins listed on an “Illegal” exchange in the first place?
Ali Raza’s original article for cryptopotato.com reduced by 43%
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