Binance’s CEO holds his first AMA in 2020, with a few big announcements

Binance’s CEO holds his first AMA in 2020, with a few big announcements
Written by:
Ali Raza
8th February, 12:35
Updated: 11th March, 09:00
  • Binance's CEO, Changpeng Zhao, recently live-streamed his first AMA in 2020.
  • Zhao covered numerous important topics, from coronavirus' impact on BTC to Binance's plans for 2020.
  • He revealed that a lot of new things are coming, such as more fiat gateways and BNB futures, but he also mentioned multiple long-term projects that still need work.

Changpeng Zhao, the CEO of Binance crypto exchange, recently held his first AMA in 2020, which is also the first one in the last three months. During the live stream, Zhao covered a number of important topics and decisions that the exchange will make throughout the year,

One of the first questions directed at Zhao was the potential impact of China’s coronavirus on BTC and the crypto industry. Zhao stated that he does not expect that the virus would have a direct impact on Bitcoin specifically, but he did say that the virus is likely to have a large, negative impact on the global economy.

He also noted that Binance has made a donation of 10 RMB to help fight the outbreak.

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Binance’s goals for 2020 and beyond

Zhao then switched to plans for the future, noting that Binance will launch BNB futures with 50x leverage on February 10th. This will be the 16th asset that Binance Futures is going to list, and many are interested in seeing whether BNB futures would be sought after enough to take the market away from TRON trading.

Zhao also mentioned Binance’s new partnership with Indian blockchain startup WazirX, and its new IEO that just went live on Binance Launchpad. WazirX is the second project from India to hold its IEO on Binance’s platform, right after Matic.

Next, Zhao announced that numerous new fiat gateways will arrive, for foreign investors such as the ones from Russia, Norway, and even Croatia. But, even that is not all, as Binance also announced two new programs.

The first of the two is the P2P market with zero fees, while the second one is a Broker program. According to Zhao, the exchange is currently working for merchant partners for both programs. He explained that P2P merchants will provide liquidity for fiat, and also help the P2P market to improve in developing economies. As for the broker program, it is looking for partners that will push the trades through Binance’s own API.

Other developments include improvements in Binance Chain, the addition of smart contracts and privacy features. Lastly, CZ announced several projects that are planned for a long-term future, such as BNB staking, Binance’s segwit and Lightning Network implementation, and more.

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