{"id":63838,"date":"2022-07-03T12:11:04","date_gmt":"2022-07-03T09:11:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63838"},"modified":"2025-09-06T11:09:54","modified_gmt":"2025-09-06T08:09:54","slug":"changpeng-zhao-binance-leads-rescue-talks-with-more-than-50-companies","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/changpeng-zhao-binance-leads-rescue-talks-with-more-than-50-companies\/","title":{"rendered":"Changpeng Zhao: Binance leads &#8216;rescue talks&#8217; with more than 50 companies"},"content":{"rendered":"<p>The cryptocurrency exchange Binance intends to assist industry participants experiencing a small liquidity shortage, and is in talks with more than 50 companies. Bankless host Changpeng Zhao disclosed this on the podcast.<\/p>\n<figure class=\\\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\\\">\n<div class=\\\"wp-block-embed__wrapper\\\">\n<iframe loading=\\\"lazy\\\" title=\\\"CZ's Bear Market Plans | LIVESTREAM\\\" width=\\\"500\\\" height=\\\"281\\\" src=\\\"https:\/\/www.youtube.com\/embed\/lldGpGsUcWw?feature=oembed\\\" frameborder=\\\"0\\\" allow=\\\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\\\" referrerpolicy=\\\"strict-origin-when-cross-origin\\\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<p>According to him, the crisis in the digital-asset market is driving consolidation in the sector \u2014 more successful players are seeking to take stakes in or acquire troubled projects.<\/p>\n<p>On July 1, BlockFi chief Zac Prince said that FTX&#8217;s US subsidiary would extend a revolving credit facility of $400 million to the lending platform and <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-us-signs-deal-with-blockfi-with-option-to-acquire-the-lending-platform\">receive an option to acquire the company<\/a> for $240 million.<\/p>\n<p>Zhao noted that Binance could have been first to seize the opportunity to acquire, but did not.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThe deals you see in the headlines usually come to us first. I am confident that we currently have the largest cash reserves,\u201d he said.<\/p>\n<\/blockquote>\n<p>The CEO said that the liquidity crisis in the market has increased deal-making in the United States. According to him, FTX&#8217;s US subsidiary has focused on local companies, while Binance has a more global reach.<\/p>\n<p>He stressed that the exchanges are not competing on this issue. Zhao also repeated <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-binance-will-help-good-crypto-projects-weather-the-crisis-2\">his thesis<\/a> that &#8216;not all projects are worth saving&#8217;.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cWe do not want to rescue companies that are poorly managed. We want to help market participants experiencing a small liquidity shortage to ride out this cycle. At the moment, we are in talks with more than 50 of them,\u201d said the head of Binance.<\/p>\n<\/blockquote>\n<p>In Zhao&#8217;s view, his organization feels comfortable in a bear market thanks to large cash reserves and an understanding of the cyclical nature of the market. The billionaire intends to use the situation to expand the ranks of specialists.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cBy the end of the year, we want to bring the number of employees to 8,000,\u201d he said.<\/p>\n<\/blockquote>\n<p>Back in June 2022, Zhao said that the crypto winter <a href=\"https:\/\/u1f987.com\/en\/news\/binance-ceo-crypto-winter-is-an-opportune-time-to-expand-the-workforce\">was an appropriate time to expand the team<\/a> and to develop the business further through various acquisitions.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Binance plans to help industry participants experiencing a &#8216;small liquidity shortage&#8217; and is in talks with more than 50 companies. Bankless host Changpeng Zhao disclosed this.<\/p>\n","protected":false},"author":1,"featured_media":63839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,935],"class_list":["post-63838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-changpeng-zhao"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=63838"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63838\/revisions"}],"predecessor-version":[{"id":63840,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63838\/revisions\/63840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63839"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}