Binance's CZ: I Won't Start New Crypto Project
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Changpeng Zhao, more commonly known as CZ, a Binance cofounder and its former chief executive, has published a tweet to address the crypto community about the importance of creating new products and improving the current ones in the crypto space.
CZ also revealed his plans for the near future, which do not mention building a new crypto exchange or any other crypto project.
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Responding to CZ’s tweet, where the former Binance boss urged the community to “keep building,” X user and crypto enthusiast @Cryptoking stated that he remembered the crypto builders have never stopped, even though skeptics have always said that it is “a bit late.” As an example, he named 2017, when CZ launched Binance. Back then, according to the commentator, everyone also said that there was “no room for another exchange,” and “It’s all done.” Still, Binance emerged and quickly won its position as the leader of crypto trading platforms.
However, responding to that, Zhao said that he does not plan to start building a new exchange or any other new project. Instead, he said, he intends to help other founders in the crypto space: “I won't start a new project. Will help other founders.”
— CZ 🔶 BNB (@cz_binance) February 27, 2025Let's do that for DeFi now. 😆
People will say, "a bit late?"
People also said in 2017, "there is no room for another exchange. It's all done."I won't start a new project. Will help other founders.
Earlier this week, Changpeng Zhao addressed the crypto community to share his optimism and bullish mood with them as the crypto market showed a massive drawdown. Over the past week, the world’s crypto leader, Bitcoin, has experienced a staggering 15.71% drawdown as it crashed from $99,400 to the $83,800 zone between Feb. 21 and 26.
By now, Bitcoin has began a recovery and has added 3.19%. At the time of this writing, BTC is changing hands at $86,380 per coin. Curiously, CZ also shared that he has sold no crypto during recent market drawdowns.
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JAN3 CEO Samson Mow believes that the real Bitcoin bull market is only about to begin, according to a tweet he published earlier today. He urged the community not to panic and fall for statements that BTC is going to fall back to $70,000.
The real #Bitcoin bull market is about to begin. Don’t let the drawdown and people calling for $0.07M fool you. Every single time there is a drawdown, “analysts” always come up with some reason for why we might go lower.
— Samson Mow (@Excellion) February 26, 2025
He pointed out that every time there is a market drawdown, there are always analysts coming forward offering reasons why they expect BTC to go lower.
