How did the founder of Binance revolutionize the cryptocurrency exchange market?

1 answers

• barbaraJul 19, 2023 · 2 years ago
  The founder of Binance, Changpeng Zhao, brought about a revolution in the cryptocurrency exchange market by prioritizing transparency and trust. Binance implemented a rigorous listing process, conducting thorough due diligence on projects before listing their tokens. This approach helped weed out scams and low-quality projects, ensuring that only legitimate and promising projects were available for trading on the platform. Additionally, Binance established a Secure Asset Fund for Users (SAFU), which allocates a portion of trading fees to a reserve fund to protect users in the event of a security breach or unforeseen circumstances. This commitment to security and user protection instilled confidence in traders and investors, attracting them to the platform. Binance's emphasis on transparency and trust set a new standard for cryptocurrency exchanges and contributed to the overall maturation of the industry.
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