Changpeng Zhao urged investors to diversify their crypto portfolio

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The CEO of the largest crypto exchange in the world, Binance, said that against the backdrop of a falling market, it is short-sighted to invest in one or two cryptocurrencies, it is better to diversify the portfolio as much as possible.

Changpeng Zhao during a Reddit Q&A session urged investors to diversify, acknowledging that they are pursuing the opposite strategy:

“In terms of investment, I am not a good example. I don’t diversify. My portfolio is represented by Binance, all in BNB and BTC. I use the Binance Card everywhere I go.”

In response to a question about why Binance has resumed LUNA trading, Zhao explained that buying/selling has been temporarily suspended due to network shutdown by validators. And he added that it was the actions of the exchange that forced the validators to resume work:

“No one is forcing anyone to buy just because the auction is going on. There are buyers with a high tolerance for risk.”

Zhao explained to users dissatisfied with the centralization of the exchange that such management requires a small number of validators and helps speed up transactions. He noted that he is not involved in making such decisions, but will discuss this issue with the main developers of the network:

“My limited technical understanding is that at this point in our blockchain evolution, there is a trade-off between node count and performance.”

The CEO was quick to assure that user assets are never mixed with the company’s operating funds. In the event of a bankruptcy or any similar unfortunate event, Zhao promised that “the money will be returned first to the users, not to the shareholders.”

In May, Dogecoin co-founder Billy Marcus described 95% of crypto assets as junk, causing investors to lose millions of dollars.

Source: Bits

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