CZ Details Long-Term Impact Of Failed Crypto Projects

Binance CEO Explains Impacts Of Failed Crypto Project

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Binance CEO Changpeng Zhao in a tweet detailed the impact of failed crypto projects.

He wrote that in short term, they hampered the crypto industry’s growth. However, he added “But we are seeing recovery already”.

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In the same Twitter thread, he further detailed the long-term impact of failed projects.

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He mentioned that they really hampered traditional financial players to adopt the technology.

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He explains, as a result, the adoption curve will likely drop further, which could have existential implications from 10 to 20 years.

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After the FTX debacle, the cryptocurrency market collectively collapsed and investors expressed concerns about the stability of the industry.

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However, there has been some recovery as the price of BTC crossed the 23,000 mark.

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