Binance founder Changpeng Zhao has warned Bitcoin users to stay away from greed as the cryptocurrency surged to all-time highs. BTC surged to a record high of nearly $79,000, sending other major digital currencies, such as Ethereum and Solana, to notable heights.
CZ Urges Caution Amid Bitcoin’s Latest Highs
CZ is no longer the CEO of Binance, but he remains a prominent figure in the crypto space. He recently shared tips on avoiding “greed” and “over-concentration in one asset” as the market remains unpredictable. With Bitcoin now trading higher than ever, Zhao’s message emphasizes risk management.
Despite the current positive trend and price volatility, Zhao still emphasizes the importance of balanced investment approaches for long-term market performance.
The market is experiencing a bull run, and Zhao's comments come at a time when major cryptocurrencies, such as Ethereum and Solana, are also recording significant gains.
Zhao's cautious tone, however, reminded traders that sharp rallies are often accompanied by periods of decline, emphasizing that experienced investors approach such highs with moderate optimism and a controlled level of risk.
CZ's Return to Crypto and His Future Role in the Market
After a brief hiatus from Binance due to legal challenges, Zhao has re-engaged with the industry, emphasizing his commitment to blockchain and AI technology. Recently released from prison, Zhao spent four months in custody facing legal issues over Binance’s compliance in the United States. Now back, he continues to shape industry discussions, providing guidance that emphasizes both his market experience and ongoing influence.
Zhao’s statement reflects his investment principles; he favors core assets like Bitcoin and Binance Coin (BNB). His estimated BNB holdings, around 94 million tokens, put his net worth at around $61 billion. This significant stake puts Zhao among the richest people in the cryptocurrency space, demonstrating his continued involvement with Binance despite stepping down from an executive role.
The Impact of Binance, FTX and Zhao on Crypto
The recent optimism in the crypto market coincides with the two-year anniversary of the FTX collapse, an event that reshaped the industry. Binance and FTX briefly considered a merger, which was eventually called off after fraud was discovered at FTX under Sam Bankman-Fried, who is now serving a 25-year prison sentence. Reflecting on the changes in the industry, Zhao acknowledged the lasting impact of FTX’s collapse on market sentiment and investor caution.