Trump bitcoin criticism only benefits the industry

Binance CEO Changpeng Zhao believes that although the US president criticized Bitcoin and the Libra project, this is good for the industry, as it attracts new people.

“Trump did not do anything positive or negative, he just said that he is not a fan of Bitcoin. But the fact that he wrote about this on Twitter, that the US president is talking about cryptocurrency is good, ”Zhao stressed.

Recall that on July 12, Donald Trump said on Twitter that he was not a fan of Bitcoin and criticized the steeblecoin Libra, developed by Facebook. According to him, Facebook should get a banking license before you create your own currency.

However, according to Zhao, even if the US completely prohibits the use of cryptocurrency on its territory, it will not destroy the industry.

“Cryptocurrencies will survive regardless of the desire of any country. The overwhelming majority of countries trying to ban cryptocurrencies simply make them even more desirable for their citizens, ”said Binance CEO.

Changpeng Zhao also touched on the topic of hacking Binance, which occurred in May. The intruders stole 7,000 BTC, but, as the site’s general director assured, Binance’s profit easily covers this loss. He also noted that this hack showed the industry’s “new level of transparency”.

“Banks are also breaking open, but we can only guess about the amounts. We see only billions of dollars in fines that regulators write to banks. And in the cryptocurrency industry, there is more transparency, which is good for users, because they know what is going on, ”Changpeng Zhao expressed his opinion.

Earlier, we reported that hackers who broke into the Binance cryptocurrency exchange two months ago began to exchange BTC for fiat currency.