Binance CEO talks fraud and security
The chief executive of one of the world’s biggest crypto exchanges has shared his thoughts on a range of crypto fraud-related topics.
Changpeng Zhao, who is known by his initials CZ, was speaking during a fireside chat at Virtual Blockchain Week.
He heads up Binance, which is one of the world’s largest such institutions by trading volume.
One of the areas he covered in the wide-ranging conversation was the issue of regulation.
According to the crypto press, he sounded a careful note at first when discussing regulators.
“We don’t want to step on the wrong guy’s toes”, he was quoted as saying.
He also went on to explore the potential advantages of moving to a regulation-heavy model.
“It would be good if someone actively loosens or drafts a new set of regulations for cryptocurrencies”, he said.
“That would encourage more innovation.”
Some types of crypto regulation are widely considered desirable by the industry, especially if they mean that investment or business processes become easier and more efficient as a result.
Zhao also addressed the topic of Craig Wright, a man who claims to be Satoshi Nakamoto – the anonymous founder of Bitcoin.
The comments came after Binance decided to remove a coin called BSV, which was associated with Wright and which stood for “Bitcoin Satoshi’s Vision”, from its listings.
Zhao said that while the decision had been difficult, he did not believe Wright’s claims of being Satoshi.
“The delisting of BSV was a tricky decision”, he was quoted as saying.
“I think Craig Wright is absolutely a fraud”, he added.
“He is not Satoshi Nakamoto. Anybody who understands crypto knows that.”
Worries over Venezuelan actor’s foray into crypto
Some in the crypto press have expressed concern this week after it was revealed that a Venezuelan actor is getting involved in a crypto scheme run by a controversial figure.
Fernando Carrillo, who has been involved in the worlds of music and acting, is now leaving the profession to become the CEO of an operation called Fight to Fame – covering the Latin American and Mexican region.
Fight to Fame, which is based in Singapore and which produces a token called the FF Token, is headed up by a man called Morgan Shi.
However, question marks have previously been raised over the nature of Shi’s operation, with some even suggesting that Shi is a scammer.
In 2017, for example, Interpol called for an investigation into Shi, who it accused of “illegal fundraising by fraudulent means”.
Carrillo, however, appeared upbeat about his career change.
“It is a world that I am getting to know, wonderful, just as you can win, you can lose”, he said.
“We are going to launch 40 million cryptocurrencies to the Mexican market, taking into account that we sold 37.5 million in Peru (…) Now we want to expand in Latin America”, he added.
Carrillo also defended his new boss against the accusations.
“Since working with him, he has been a righteous person, who has brought me knowledge, riches. I believe in what he’s doing”, he said.
- China’s New Central Bank Digital Currency Dishes Out More Pain to The Dollar
- Russell 200 Index – US Jobs Report Could Signal a Good Week for Equity Markets
- Deliveroo’s IPO Flopped But is Now the Time to Buy?
- Archegos – Could the Markets be About to Crash?
- Will Wednesday’s Speeches Correct This Forex Disconnect?
- Is This the Time to Buy the Dips?
China’s New Central Bank Digital Currency Dishes Out More Pain to The Dollar
Russell 200 Index – US Jobs Report Could Signal a Good Week for Equity Markets
Safest Forest Brokers 2020
|Broker||Info||Best In||Customer Satisfaction Score|
|#1||Your capital is at risk Founded: 2011||Global CFD & FX Broker||
BEST FOREX BROKER Visit broker
|#2||CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Founded: 2010||Global Forex Broker||
Low minimum deposit Visit broker
|#3||Your capital is at risk Founded: 2014||Global Forex & CFD Broker||
Best Trading Conditions Visit broker
|#4||Your capital is at risk Founded: 2014||Global Forex Broker||
BEST SPREADS Visit broker
|#5||80.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Founded: 2008||Global CFD Broker||
Best Trading App Visit broker
Stay up to date with the latest Forex scam alerts
Sign up to receive our up-to-date broker reviews, new fraud warnings and special offers direct to your inbox