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Changpeng Zhao: the global fracturing leads to higher adoption of cryptocurrencies

CEO of Binance Changpeng Zhao

The CEO of the Binance cryptocurrency exchange believes that sanctions and the US dollar's supremacy will push foreign corporations to seek refuge in cryptocurrency. During a podcast interview with Circle CEO Jeremy Allaire, Changpeng Zhao stated that as geopolitical tensions rise and the US dollar's hegemony grows, so will the adoption of cryptocurrencies by society. Zhao observed that the world is growing more divided, and that the dollar is increasingly being used as a sanctioning tool:

Money is a very powerful tool with which governments can influence each other, geopolitics and much more. The dollar is one of the strongest instruments the US has at its disposal.

Changpeng Zhao CEO of Binance

The fracturing of the global community, according to Binance's CEO, leads to even higher adoption of cryptocurrencies:

The world is becoming more divided. Guess what will happen when this trend intensifies? People will seek to use the currency as a tool to circumvent sanctions and other operations.

Changpeng Zhao CEO of Binance

Zhao predicts that Bitcoin will become this cryptocurrency:

People are looking for a neutral thing to use. Bitcoin is very neutral. It does not belong to any country. No one can produce it in large quantities. There is no inflation. It is the most neutral currency.

Changpeng Zhao CEO of Binance

According to Zhao, Bitcoin is a godsend for businesses who want to do business all over the world rather than being restricted to one country's borders. As a result, if the US refuses to embrace cryptocurrencies, the dollar's dominance is likely to be jeopardized:

The states should think about whether the cryptocurrency reduces the influence of the dollar around the world? To be honest, this is exactly what is happening. And if the US continues to fight cryptocurrencies, they will develop throughout the rest of the world.

Changpeng Zhao CEO of Binance

Zhao went on to say that while Americans can safeguard the US dollar for a long time, the rest of the world will move to cryptocurrencies during that time. In the long run, the United States will almost certainly be unable to protect its currency. The United States will therefore have no future, according to the CEO of a cryptocurrency exchange.

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