Changpeng Zhao calls China’s crypto market speculative

In China, the cryptocurrency market is more of a speculative market, with many novice traders lacking knowledge. This was stated by Binance CEO Changpeng Zhao in an interview with Forbes.

According to him, this is “not a recommended way to trade”.

“There is a lot of money in China. Economic growth there has been colossal over the last few decades. There are many wealthy people, but not such a big institutional market, because here people do not trust others to manage their money,” Zhao explained.

Even the Chinese stock market has always been very speculative, the Binance CEO added.

“People follow others, and there isn’t much fundamental analysis,” he noted.

Zhao stressed that the cryptocurrency markets have their own characteristics in Japan and South Korea. In the rest of Southeast Asia, wealth is lower, but the number of users is very large, he noted.

“These guys are more interested in making money through staking, GameFi and so on,” the entrepreneur clarified.

Earlier, Zhao said that cryptocurrencies подходят не всем инвесторам, citing billionaire Warren Buffett.