Thread by @KeyKrypto

Podcast Notes from : @APompliano Podcast #259 - CZ explains Why Binance is Paying A Rumored $400 Million for CoinMarketCap YT : shorturl.at/gkyP3
@cz_binance #Binance - 1

CZ : Seeing 5 times the volume since Corona Virus took over. Market Share is gaining. Futures is clearly #1 last 2 weeks. Could be that people are bored at home or macro issue QE, people moving back into Crypto - 2

CZ : Volatility is good for biz. Flat at a low price is not good. Flat at a high price is good. High prices are good for exchanges

Pomp : Impact of virus on Biz?
CZ: Team works remotely for last 2 years. we are used to it. Competitors may have slowed down as they were more centralized. Lot more people are applying for jobs now. Last year hiring was difficult. Didnt impact as negatively as expected- 4

CZ: Strong balance sheet, strong revenue, strong profits.
Not burning before. Very aggressive on both hiring and acquisitions.
Prefer Team members to calling them employees, Encourage work from home - 5

CZ: Corona - Might be a second wave in Autumn. Leadership Test for a lot of countries. Prepare for the long haul. Turbulent times, lot of opportunity. Crypto will see a very strong boost, combined with QE. That money is not free flowing currently. Once it starts flowing - 6

CZ: Cost of goods will go up higher. Crypto will go up proportionally. More more new opportunities right now than before. More banks, FI's will work with crypto exchanges. Tough but opportunity - 7

CZ: On CMC- Last year, Talked with Brandon. Simple deal. Very long term play. One of the most valuable platforms in the industry. It will be 10x to 100x. It will continue its original purpose of being the landing page of Crypto. Have not been expanding super aggressively - 8

CZ : Goal is to make the industry bigger. We want other exchanges to grow. 200 countries. Banking channels etc.
Crypto will service new business types, new oppurtunities that the traditional fiat world doesn't touch - 9

Pomp: How was the acquisition paid for?
CZ: Covered by NDA. Fairly straight forward deal. We dont hold Fiat. We convert it from crypto when we need it - 10

Pomp : Non US countries.
CZ: US - Institutional trading is very established. Worlds 20+% GDP with 4% population. Value per user is much higher. China - Lot of rich guys. online & mobile biz very developed. For big countries, we need team of lawyers, deal with regulators - 11

CZ: India - Most populous country. Opportunity. Uncertainty in regulations. We placed a bet before it was clear. Turned out to be favorable. @NischalShetty
leads a good team. Understand local markets, culture. difficult to do all that myself - 12

CZ : Understand our shortcomings, different culture norms, diff biz cultures, diff psychology in diff markets.
Africa: 1.2 billion people. 11% population have bank accounts. Mobile App. When you connect diff countries in the world that's when the value really shines- 13

Pomp: How much of financial activity in Crypto?
CZ: My guess is 0.1% Really tiny. Growth potential is really high. Will come. We are in the right industry. Once we go to 1% we will go to 10x - 14

CZ: Binance US taking a careful and solid approach. Regulatory compliance. Copying more and more features from Binance.com. Staking, more coins. Trading fees is much lower. 3rd of what other platforms charge. Other platforms are high quality - 15

CZ: Mining pool - Team member suggested it and she built it. Both POW and POS. Similar to lending product. For the users it is similar. Ties into Binance finance product suite along with lending, loan biz. Launch soon - 16

Pomp: Magic of Binance. Find talented, ambitious people. Ideas and you give green light.
CZ: We have brand, network effect re: mining pools. Lowest fees. By a factor of 2 or 3x. Same with Mining pools. Hoping to become on the major player in mining - 17

CZ: When we first started, we wanted to survive. Once over that hurdle, the more you charge the slower you grow. Uncertainty, regulation changes causes people in the industry to be short-sighted. Longer term play. Crypto has a super future. serve users for 20/50 years -18

CZ: We are not a public company so we don't have this wall st. analyst calls etc. We do have a token but its getting decentralized. We are not going public anytime soon. IPO game is way old. Entrepreneurs have to yield to VCs very early on. Very few VCs care about the vision - 19

CZ: BNB is a utility coin. 400x at peak. If we have Binance shares then it will dilute the BNB eco-system. We will continue to push BNB will more and more our eco-systems and partners. Might have a DAO in the future. New territory - 20

CZ: Company with strong cash flow. Different monetize. Longer. Employee token options. I don't know the blueprint yet. We are experimenting . Binance started as a smaller centralized company but we are going towards being decentralized- 21

Pomp: Security Token world
CZ: Lot of potential in the security world. Implementations today are too restricted and relatively rudimentary. security paper ported to Blockchain. Should be able to send it to anybody, anywhere in the world. Regulatory hurdles in diff countries- 22

CZ: Countries with less regulations will move fast. US has lots of regulations will move slow. Many want to securitze their real-estate, companies. Raise money internationally.
- 23

pomp: what is the biggest misconception about CZ?
CZ: Lot of people think I control the crypto price. I wish that was true Pump it CZ. :) Misconception thinking big exchanges control price. I am a poor trader. I am a tech builder. Platforms to access liquidity. - 24