Binance’s Zhao says industry is ‘healthier’ after a ‘nasty’ year
Binance CEO Chanpeng Zhao said the industry is in a "healthier" place after a "nasty" 2022, and he expects better things in 2023. He declined, however, to make any specific predictions. "The trick for us is to monitor the industry and then whatever is trending we try to support it," Zhao said. The CEO, who launched a recovery fund for troubled crypto companies in the wake of FTX's collapse, did not mince words when it came to his former competitor. Binance earlier today released its proof-of-reserves system, starting with bitcoin, in order to show that the exchange is healthy and solvent. For bitcoin, Binance has provided a snapshot of account balances and the exchange's bitcoin reserves
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