Changpeng Zhao (CZ), the CEO of Binance, continues to deride the financial institutions of the United States as they struggle to maintain stability amid threats of hyperinflation following the implosion of two prominent banks in the country.
They buy debt, we buy crypto, Zhao tweeted on Monday, recalling an earlier move to convert $1 billion of a fiat-backed stablecoin to other native cryptocurrencies, including Bitcoin (BTC), Binance Coin (BNB), and Ethereum (ETH).
Interestingly, the price of Bitcoin has hit one of its highest points in nine months as the US banking sector battles a liquidity crunch. I didnt see the Bitcoin is not a store of value narrative in the past week, the CEO teased.
The post Binance CEO CZ Ridicules Troubled US Financial Institutions appeared first on Coin Edition.
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