Binance founder Changpeng Zhao (CZ) didn't hold back during his interview at DC Blockchain. | Source: CCN
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Key Takeaways
U.S. crypto market lacks competition, says CZ.
The Binance founder accused traditional media of negative bias.
CZ said improving policies could draw crypto firms back after an earlier exodus to hubs like the UAE and Singapore.
Binance founder Changpeng Zhao (CZ) said the U.S. crypto market suffers from a lack of competition that disadvantages consumers, while also accusing mainstream media of ignoring recent court rulings in his favour, speaking at the DC Blockchain event on Wednesday, March 18.
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Appearing virtually from Dubai, due to suspended flights following Iranian attacks, CZ said the U.S. needs stronger competition among crypto exchanges, arguing this would improve pricing and market efficiency.
“I think what the U.S. needs today is probably… a bit more competition,” he said.
Adding: “Competition is the best consumer protection.”
He pointed to higher trading costs for U.S. users compared with global markets.
“The U.S. exchange trading fees are way too high, which basically means the consumers are getting a much worse price than what they could get internationally,” CZ said.
CZ added that the U.S. is also lagging in liquidity compared with other regions.
“The main liquidity is now not in the U.S.,” he said. “It’s kind of weird not to have the biggest liquidity.”
Media Bias
CZ also criticized what he described as one-sided media coverage of allegations against him and Binance, particularly around claims of facilitating illicit finance.
He said recent legal developments had not received comparable attention, even though judges found “no evidence.”
“In the last two weeks, two courts in the U.S., two federal courts in the U.S., dismissed those cases,” CZ said.
“The court threw those cases out,” he added. “But as you said, the mainstream media covers zero on that.”
Changpeng Zhao at DC Blockchain on Wednesday, March 18 | Source: CCN
CZ said that negative narratives continue to shape public perception, claiming that a large portion of the population still only reads “traditional media.”
“For those people, that’s a bit unfortunate. We just have to try to do more to correct that,” he added.
CZ also denied allegations that crypto platforms benefit from illicit activity, claiming that no exchange or business would want to “touch that.”
“I have zero interest in doing that,” he said. “So all this narrative, they just want to latch on something negative, they just want to attack,” he added.
He described such claims as unfounded.
“So I hope that will change over time, but I think eventually the truth will come out,” he said.
CZ Believes Crypto Is Coming Back To U.S.
CZ also said the U.S. is beginning to attract crypto entrepreneurs back after a period of regulatory pressure that drove firms overseas.
“The last administration pushed all the entrepreneurs… out of the U.S.,” he said, adding that many had moved to hubs such as the UAE, Singapore and Hong Kong.
“Recently, we’re seeing a shift,” CZ said.
He said the country retains strong advantages in capital, talent and infrastructure, and could regain a leading position in the crypto industry.
“I think it’s going to happen sooner or later,” CZ said.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
