The transfer of $ 1 billion in bitcoin shows the failure of banks

Binance cryptocurrency exchange CEO Changpeng Zhao said a recent $ 1 billion cryptocurrency transaction shows bank failure.

He expressed his opinion on the social network Twitter in a commentary on the recording of cryptocurrency enthusiast and entrepreneur Charlie Shrem. Shrem noted that the people who conducted the transaction paid $ 600 for the transfer of $ 1 billion in bitcoin and, in his opinion, greatly overpaid. Zhao objected:

“The transaction was very cheap. Imagine that you come to the bank and say that you want to transfer $ 1 billion in 10 minutes for only $ 700. ”

Of course, traditional bank transfers cannot compete in speed with bitcoin transactions. Such a transfer in a bank would take at least a couple of days, and commissions would be much higher.

“If you came to the bank and said that you want to transfer $ 1 billion in 10 minutes, the first thing you would see is the police,” reacted to the statement of its CEO Binance official account.

Recently, Changpeng Zhao expressed confidence that the altcoin growth season will come sooner or later, and it will be much more stable than in 2017.

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