Binance CEO denies the statement about the disappearance of the exchange in 10 years

Changpeng Zhao pointed out that the headline of the CoinDesk article distorts the words of Patrick Hillman, the platform’s chief strategy officer

02.12.2022 - 09:00

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What’s new? On December 1, CoinDesk published an interview with Binance CSO Patrick Hillman. The feature’s headline noted that according to Hillman, the exchange could cease to exist in 10 years. Commenting on the article, Binance CEO Changpeng Zhao said that the headline is completely inconsistent with what Hillman said in the interview.

Our CSO talks about the Industry Recovery Initiative, and this is the headline that came up. Nothing in the article relates to this title.The difference in treatment... 🤷‍♂️ pic.twitter.com/slUb9S7QFt — CZ 🔶 Binance (@cz_binance) December 2, 2022

Details on the situation. Zhao noted that the chief strategy officer in the interview was talking about Binance’s initiative to recover the crypto industry, and also pointed out the misinterpretation of his words by the publication. “Nothing in the article relates to this title,” the Binance CEO stressed.

In addition to talking about the exchange’s projects aimed to help other companies, Hillman opined in the interview that the crypto market is moving toward decentralized finance (DeFi) following the collapse of the FTX trading platform.

In August, Zhao also denied the information in a CoinDesk headline for an interview with the exchange’s head of the compliance team, Tigran Gambaryan. In reference to his words, journalists pointed out that Binance lost 90% of its customers and billions of dollars after the introduction of the know your customer (KYC) procedure. The head of the exchange stressed that the compliance officer’s words were distorted to attract traffic to the site.

In July Zhao sued Bloomberg in the Hong Kong High Court for an article containing allegations of fraud. He demanded that the defamatory material be removed and that a formal apology be issued.

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