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5 questions to Changpeng Zhao, CEO of Binance

July 14, 2020

Changpeng Zhao, CEO of Binance, or simply CZ, one of the world’s best-known personalities from the crypto community, spoke exclusively to Cointelegraph Brazil.

At the interview CZ is concerned with Binance’s controversial purchase of Coinmarketcap and suspected manipulation of the website’s rankings and is not responding only when it believes the cryptocurrency market will be more “predictable” in the future. Read below.

Cointelegraph Brazil – How important is the data for the main activity of Binance?

5 questions to Changpeng Zhao, CEO of Binance5 questions to Changpeng Zhao, CEO of Binance

Changpeng Zhao – Dates are the basic energy that flows around the world. It is very important. Binance is a data driven company. The evidence is that one of our first businesses in late 2018 was Binance Research to increase transparency and improve the quality of information in the crypto ecosystem. In our team we have the best data researchers on the market with experience in various areas such as academic research, investment banking, engineering and strategic consulting.

CT – Is the acquisition of CoinMarketcap a turning point for Binance, the first exchange to base its business on data?

CZ – The acquisition of CMC is part of Binance’s plans to provide products and solutions for the entire crypto ecosystem to support the global use and democratization of the use of cryptocurrencies. For many, CoinMarketCap is an icon for our market. Since Binance built its community on the trust of users, We plan to activate CoinMarketCap to continue to develop useful and innovative products for its users and the global community.

CT – Do you agree that the acquisition of Coinmerketcap makes Binance a great force for privileged access to data across the entire crypto market worldwide?

CZ – yes and no. Coinmarketcap only collects public data, mainly from exchange sources or from public projects. Anyone else could collect the same data. So it’s not a privileged access that other people don’t have. CMC improves our ability to provide more useful data to the industry. Coinmarketcap is now part of the Binance family, but must remain an independent company. Although Binance is listed as a cryptocurrency exchange and its BNB token on CoinMarketCap, They are separate companies that have a strict independence policy: Binance has no influence on the CoinMarketCap ranking, while CoinMarketCap does not affect the Binance guidelines. CMC continues to strive to provide the industry with data of the highest quality and clarity while benefiting from Binance’s experience, resources and size.

CT – Binance was recently mentioned by Abcrypto for mapping its business and volume data in Brazil. what do you have to say

CZ – Binance is widely recognized as the world’s largest cryptocurrency exchange. Better liquidity, registration and pricing for a wider range of cryptocurrencies. The industry trusts that Binance adheres to the essence of cryptocurrencies, does the right thing for its users, creates transparency of the rules and spreads financial freedom.

CT – Do you think data analytics can make cryptocurrency trading more predictable in the near future?

CZ – Not really. With higher data quality, users can use cryptocurrencies responsibly and democratically. But nobody can really predict the future. The traditional financial market is an example of transparency and positive effects of governance, without trading strategies being predictable. The best trader will still be someone who makes the most of data.