Changpeng Zhao, the founder and CEO of Binance, the world's largest cryptocurrency exchange by trading volume, announced that he has never traded futures since 2015 and never participated in altcoin launches on the platform.
Binance CEO Says Not Investing In Crypto Futures
In a tweet on Saturday, Zhao responded to a follower who asked him if he trades futures on Binance. Zhao said he has not traded a single futures trade on Binance or elsewhere since 2015.
He also said that the platform never participated in Binance Launchpad, the token sale platform that hosts initial exchange offerings (IEOs) for various projects.
Binance Launchpad's latest project was the Open Campus (EDU) altcoin.
No, never done a single futures trade since 2015, not on Binance, not anywhere. Also never participated in Binance Launchpad. My time is better spent on products and users.
— CZ 🔶 Binance (@cz_binance) April 29, 2023
Launched in 2019, Binance Futures is one of the popular platforms in this space, offering up to 125x leverage on various contracts.
Binance Launchpad is another popular feature of the exchange that allows users to purchase new tokens before they are listed on other platforms.
CZ revealed that although a significant percentage of his net worth consists of Binance Coin (BNB) holdings, he still owns some BTC he bought early on.
*Not investment advice.
