Changpeng "CZ" Zhao, founder of Binance, said that the company remains committed to holding profits in cryptocurrency and is confident in the sector's long-term prospects despite price fluctuations. The statement was made on a podcast.
"When the Bitcoin price goes down, because we hold our profits in crypto, we don't convert it to US dollars," said Zhao. "We believe that crypto longer term will rise higher. There will be volatilities but we can handle it."
Current statistics indicate that as of 2024, approximately 72% of Binance's reserves are held in cryptocurrency assets, including Bitcoin, Ethereum, and other major coins. This level of exposure highlights the company's commitment to maintaining liquidity in crypto rather than converting substantial holdings into fiat currencies. According to a Bloomberg analysis of Binance's latest public proof-of-reserves, the exchange remains heavily weighted toward digital assets to facilitate user withdrawals and trading.
Binance has emerged as the most regulated cryptocurrency exchange globally, securing regulatory licenses and registrations in over 20 countries, including France, Italy, Japan, and the United Arab Emirates. This extensive compliance footprint surpasses that of any other crypto exchange, reflecting Binance's strategic shift towards regulatory engagement following past legal challenges. In January 2025, Binance achieved its 21st global regulatory milestone by obtaining approval from Brazil's Central Bank, further solidifying its commitment to operating within legal frameworks worldwide. According to Binance's official announcement, this achievement underscores the company's dedication to fostering a secure and compliant cryptocurrency ecosystem.
Zhao has served as an advisor to several governments on cryptocurrency regulation, blockchain technology, and digital asset adoption. In recent years, he has participated in official forums and consultations, offering expertise on the risks and benefits of digital currencies to policymakers in the UAE, France, and other jurisdictions. As reported by Reuters, Zhao’s engagement reflects his efforts to shape global crypto policy and foster dialogue between industry leaders and regulators.
Binance was founded in 2017 by Zhao as a global cryptocurrency exchange offering trading, investment, and blockchain solutions to millions of users in more than 180 countries. The company’s mission is to increase the freedom of money worldwide by providing secure and accessible digital asset services according to its official mission statement. Binance operates a robust ecosystem including spot and futures trading, a launchpad for new projects, and a native blockchain network (BNB Chain).