Binance CEO Shares Plans To Re-enter Into the Korean Market

Changpeng Zhao, the CEO of Binance, the largest cryptocurrency exchange in the world by daily trading volume, has announced his plan to re-enter the Korean market.

Zhao, commonly known in the crypto world as CZ, met with Maeil Economic Daily at the VivaTech 2022 site in France on the 16th to discuss his plans for the platform to re-enter the Korean market.

The CEO said in the interview that “a good time for recruiting key talent and M&A is approaching.” This is concerning the crypto winter, wherein many crypto companies were forced to impose layoffs amid extreme market conditions. Notably, a crypto winter is a period of flat trading and lowered prices across the crypto market.

CZ shed some light on his plans to re-enter the Korean market, adding that “in order for Web 3.0 to become a reality, popularization is ultimately the key, and Binance’s ultimate goal is to become a platform for this.”

The CEO concluded the interview by expressing his optimism for Web3.0 technologies, such as blockchain, NFT, and the metaverse. He stated that “the bubble bursts, but eventually the technology remains. Just like the Internet, in 10 to 15 years, NFTs and blockchains will completely enter our lives, and we will not use the term itself.”

In related news, both Binance USD (BUSD) and Binance Coin (BNB) find themselves in the top 10 largest cryptos list by market cap, according to CoinMarketCap. BNB is ranked number 5 on the list, with a market cap of $35.48 billion, while BUSD is ranked just under it at number 6, with $17.56 billion in market cap.