Binance Eyeing Up to 100 Deals in the Crypto Space Amid the Bear Market, According to CEO Changpeng Zhao

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Binance CEO Changpeng Zhao says the biggest crypto exchange by volume is currently hunting for deals in the crypto market.

Zhao tells Yahoo! Finance that Binance is looking at 50-100 crypto deals right now with more to be announced soon.

“We actually see a lot of opportunity in the market. So we’re increasing our hiring, increasing our [merger and acquisition] activities, we’re looking at lowering fees on our platforms so that we make it easier for our users during this period.”

The CEO says some deals have already been inked without being publicized.

“We have done quite a few already. The smaller ones we typically don’t announce. We respect privacy aspects of it. The larger ones we do tend to announce… Just because somebody doesn’t make news doesn’t mean there are no deals going on.” 

Zhao says they don’t always like to advertise their involvement in a project if it’s capable of recovering on its own with a loan or a minority investment.

The CEO also says he thinks there should be clear regulatory guidelines for cash reserves for different types of businesses in the crypto space. He also thinks there should be requirements for “transparency and disclosure.”

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