Binance CEO: Institutionals still wary of investing in cryptos

by in Cryptocurrency News

Zhao

Despite the increasing influx of institutional capital into the crypto sphere, most financial institutions are still wary of entering this market.

According to Binance CEO Changpeng Zhao, many hedge funds and asset managers still view digital currencies as too risky. However, it is no longer possible to ignore this sector, the head of the crypto company emphasized in an interview and urged institutions to pay attention to the digital asset market.

The cryptocurrency industry is the future of the global financial system.

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The mistake is made by those who continue to fear innovative tools and hesitate to enter this ecosystem, Zhao said. He welcomed the launch of a crypto ETF for Bitcoin futures in the US.

However, the CEO of Binance has doubts about the quick legalization of the spot Bitcoin ETF, as there is no crypto regulation in the US market.

Changpeng Zhao himself previously admitted that he does not have fiat money. He keeps all his savings exclusively in cryptocurrency and does not plan to convert its cash.