Binance CEO Changpeng Zhao Projects Impending Bull Run to be in 2025
Changpeng Zhao, the chief executive of the largest crypto exchange by daily trading volume, Binance, has predicted when the next Bitcoin (BTC) bulls will resurface. The CEO expressed optimism that the bulls might reappear after the upcoming Bitcoin halving.
In an interview on Twitter, “ask me anything,” Zhao explained the Bitcoin price trends and the exciting movement of BTC in four years when the bulls were active. Even though Bitcoin has failed to attain its 2021 all-time high, Zhao predicts that 2025 will be a bull year. He stated that after 2024 Bitcoin halving, the following year, the bull will be active in the market.
Binance CEO Predicts the Next Bull Run
Zhao’s prediction elicited heated exchanges on Twitter whereby the community demanded to know how the market would behave. Some participants were concerned whether the entrance of BlackRock in the spot Bitcoin exchange-traded fund (ETF) sector would, by any chance, affect the market performance.
In his response, Zhao was delighted to state that the Bitcoin ETF would offer the crypto sector endless opportunities. On June 30, the crypto community debated the recent changes in the regulatory regime after the BlackRock filing.
The executive dismissed the community claims that BlackRock could outperform Binance. He mentioned that Binance and BlackRock’s current customer base is minimal.
The CEO explained that new entrants in the crypto sector will onboard more customers to the digital space. However, Zhao stated that new entrants would make the crypto industry more competitive. He provided an overview of the Binance user base which featured minimal overlap.
Beyond this, Zhao stated that Binance had initiated preparations for the bull run. In 2025 Binance expects the trading volumes to increase since the bull market will motivate more investors to purchase more crypto assets.
Will the Crypto Bulls Resurface in 2025?
The CEO noted that institutional clients recently expressed interest in Bitcoin and crypto assets. He added that the 2024 Bitcoin halving had inspired Binance to be ready to facilitate the highest trading volume.
Recently Binance has been in the spotlight after the US securities and exchange commission charged the crypto exchange for misusing customers’ funds and providing falsified documents to the regulators and the customers. In the 136-page report, the SEC accused Binance CEO of transferring customers’ assets to entities owned and managed by Zhao.
The SEC regulatory wrath on Binance triggered other regulators to probe Binance operations in their region. On June 23, the Belgium regulators ordered Binance to wind down its operations in the region.
Correspondingly, the Nigerian Securities and exchange commission confirmed that some of Binance’s offerings were illegal and violated the regulations. The Nigerian regulators instructed them to cease offering unregistered products in West Africa.
Before this, the troubled crypto exchange had announced plans to exit the Netherlands market after failing to meet the Dutch regulatory requirements. In May, Binance also revealed plans to exit the Canadian market due to regulatory pressure.
Later the Binance team confirmed plans to pull out from the Cyprus markets to pursue other opportunities in Italy, France, and Spain.
Binance Battle with the Regulator
Following Binance’s regulatory turf war, the Twitter community demanded to know the proactive steps the crypto exchange will take to uphold compliance. Commenting on the multiple questions regarding Binance’s regulatory status, Zhao confirmed that the crypto exchange is pursuing ways to resolve the situation. He added that Binance seeks a reasonable, suitable solution for mutual benefit.
In May, Zhao issued a similar prediction after China broadcasted crypto assets on its local Chinese Central Television (CCTV) news site. In a Twitter statement dated May 24, Zhao stated that Chinese broadcasting was a good gesture for crypto growth. He forecasted the impending bull run in the crypto space.
Elsewhere the chief executive of BlackRock, Larry Fink, recognized Bitcoin as an international digital asset. Fink explained the upside of Bitcoin and how the largest crypto asset by market capitalization could be used to control the spiking inflation and the devaluation of specific fiat currencies such as the US dollar.
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