Binance CEO Changpeng ‘CZ’ Zhao is confident that decentralized finance (DeFi) will overtake centralized finance (CeFi) in terms of prominence and significance within the financial landscape over the next six years. Zhao believes that if even a small portion of the trillions of dollars controlled by institutional investors in the equity market were invested in crypto assets, it would significantly boost the cryptocurrency market’s growth. At a recent X Spaces event, CZ expressed his views regarding the future of DeFi, saying that he believes that as the industry decentralizes, it will see improvements, and he also hinted at the possibility of DeFi overtaking CeFi in trading volumes in the near future. According to DeFiLlama, the decentralized exchanges have reported a trading volume of approximately $12 billion within the past week, and the proportion of DEX share in the overall market for spot trading of cryptocurrencies amounted to nearly 18%.The median trading volume on the top three decentralized exchanges (DEX) reportedly increased by 444% over a 48-hour period following the United States Securities and Exchange Commission’s (SEC) legal action against centralized exchanges Coinbase and Binance on June 9. The 24-hour trading volume on DEXs is $722.7 million as of the time of publication.Despite regulatory investigations and legal actions in countries such as Australia, the United States, Canada, and Europe, Binance is prepared to comply with regulations, according to Zhao. He also articulated the notion that cryptocurrency adoption should be embraced universally, albeit with varying degrees of urgency across different nations.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | 🇦🇺 🇺🇸 🇨🇦 |
| Sentiment | positive |
| Relevance Score | 8 |
| People | Changpeng Zhao, SEC, Uniswap, Coinbase, CZ |
| Companies | United States Securities and Exchange Commission (SEC), Binance, Uniswap, OKX Exchange, Coinbase |
| Currencies | Uniswap, Ethereum, Binance USD, Bitcoin |
| Securities | None |
