Changpeng Zhao, the founder and former CEO of Binance, delivered a captivating speech at the BNBDay event held in Tokyo, where he shared powerful insights on the future of decentralized exchanges (DEXs). Highlighting the rise of Hyperliquid, Zhao noted that AI-powered trading agents could accelerate the development of privacy-focused, permanent DEXs. According to Zhao, DEXs may surpass centralized exchanges (CEXs) over time.
Emphasizing the Role of Artificial Intelligence
During his address, Zhao emphasized that a new era is beginning in cryptocurrency trading. He suggested that AI-supported simple trading agents can execute user orders securely and swiftly. Additionally, permanent DEX models prioritizing privacy might challenge the advantages offered by centralized exchanges. Expressing his vision, Zhao mentioned that if he were 20 years younger, he would establish a DEX in this field.
Zhao also drew attention to the recent success of the Hyperliquid platform. The protocol managed to surpass major centralized exchanges like Coinbase and Bybit in daily trading volume. Analysts suggest that due to increased security needs and user inclination to self-custody their assets, DEXs may see higher demand in the future, paving the way for DeFi to become a permanent alternative.
Zhao acknowledged that CEXs still hold advantages in accessing fiat currencies and regulatory compliance. However, the trust, transparency, and user control offered by DEXs could shift the market share equilibrium.
Discussing RWAs and Crypto Treasury Companies
In the second part of his speech, Zhao shared his views on real-world assets (RWAs) and crypto treasury companies. He stated that RWAs have significant potential in areas such as securities, treasury instruments, and commodities. However, Zhao highlighted the need to overcome challenges like regulations, KYC requirements, and lack of liquidity. He also mentioned that BNB Chain is investing in this area and collaborating with developers.
Zhao indicated that crypto treasury companies provide investors with access through public markets. He suggested that models built around single assets, like Strategy’s Bitcoin 
$76,480 or CEA’s BNB accumulation, represent simpler and more sustainable structures, making crypto investments more accessible.
Additionally, Zhao’s remarks about his role in the BNB Chain drew attention at the event. He described himself as more of a “motivated supporter,” emphasizing a community-driven development model. He also confirmed his commitment to the ecosystem by revealing that a large portion of his wealth is invested in BNB coins.
