Changpeng “CZ” Zhao, the co-founder of Binance, has urged investors to exercise caution as Bitcoin 
$89,739 prices reach an all-time high. His remarks came after a significant recovery in the cryptocurrency market, with Bitcoin nearing the $78,000 peak.
Zhao’s Impact on Bitcoin and Cryptocurrency
Although Zhao is no longer the CEO of Binance, he continues to exert influence in the crypto world. With digital assets like Bitcoin and Ethereum 
$3,216 experiencing substantial gains, Zhao recommends that investors implement risk management strategies.
Zhao emphasized that market dynamics can shift unpredictably, with both downturns and upswings possible. He stressed the importance of diversifying portfolios to avoid significant losses due to greed.
“As Bitcoin reaches new record levels, apply proper risk management. Many fluctuations are on the horizon. Control your greed.”
Historical Context of Binance-FTX Relationship
Zhao humorously indicated that the agreement between Binance and FTX was never signed, noting that FTX’s collapse dates back nearly two years. With FTX’s bankruptcy proceedings concluding, a recovery in the market is now evident.
Binance remains a crucial player in the crypto sector, even after Zhao’s incarceration. Following his release, Zhao reaffirmed his commitment to blockchain technology, artificial intelligence, and biotechnology.
Speculation persists regarding whether Zhao will sell his stakes in Binance, which could significantly impact his future role in the market.
The activities of Binance and CZ Zhao in the cryptocurrency market are key developments that investors will closely monitor.
