Changpeng Zhao referred 2018 a “correction year” for crypto currencies whereas expressing optimism for the long run of the crypto industry during a Bloomberg interview published on Dec. 19. Zhao spoke in regard to the market plaguing traders this year, that took a flip for the worse in mid-November when markets crashed even further.

Zhao, the CEO and co-founder of major cryptocurrency exchange Binance, said that “it’s a correction year.” He noted that whereas “price could be a terribly robust attraction” for speculators, the trade can grow because of builders who create applications and “real use cases” that drive the additional adoption of cryptocurrency.

When asked regarding how the price correction affected Binance’s plans, Zhao said that Binance launched one fiat exchange, plans to launch 2 or 3 “in the subsequent month close to,” and 10 additional fiat exchanges next year. He added:

“None of our plans changed, we are still pushing forward terribly sharply.”

In relation to increased regulation and government involvement within the crypto space, Zhao said that the crypto trade “want[s] clarity, there's still too much uncertainty in several countries within the world.” He specified that the crypto industry “want[s] regulation that promotes innovation, and not things that simply altogether hamper [it].” He concluded by saying that he's still “very confident in the industry.”

Binance has dilated its activities on the far side those of a conventional crypto exchange. Binance Labs, the firm’s innovation wing, launched its incubator Program in August 2018. Last week, the program graduated its 1st “batch” of blockchain projects that received finance and mentoring through the initiative.

Today, the Binance Charity Foundation, Binance’s philanthropic arm, launched a blockchain-powered charitable campaign in support of Maltese youth. The program aims to support terminally unwell patients and disadvantaged kids in Malta and Gozo.

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