Zhao: Trump Tweeting About Cryptocurrencies is a Good Sign for the Industry

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CEO of Binance exchange, Changpeng Zhao, also spoke on the subject of criticism of cryptocurrencies by politicians. In his opinion, the mere fact that the president of the US was interested in the subject has a positive impact on the industry.

Politicians versus cryptocurrencies

Recently, there have been many negative comments on cryptocurrencies by American politicians. Primarily, Donald Trump and Treasury Secretary Steven Mnuchin commented on the subject. They both questioned the good intentions of this industry, and the secretary was even to say that protection from cryptocurrencies is a matter of national security. At the beginning of last week, the United States Congress also held talks regarding Libra, Facebook's cryptocurrency project, which raises considerable doubts, mainly due to scandals associated with the protection of personal data. Both of the aforementioned cases had a significant impact on the cryptocurrency markings last week.

Changpeng Zhao keeps calm

Changpeng Zhao does not seem to be worried by the whole situation. In an interview he gave to CNBC, he underlined that even if Donald Trump considers himself an opponent of cryptocurrencies, nothing bad has happened for the industry yet.
Trump so far has not done anything positive or negative, he’s just said he’s not a fan. The fact that he tweeted about it, and the president of the United States is talking about cryptocurrency, it’s a good thing.
Zhao also spoke on the subject of governments that are intending to ban cryptocurrencies (or have already done so) in their own country. In his opinion, it only intensifies interest in the industry and makes people want to get into the possession of coins even stronger. CEO of Binance is not the only one who thinks this way; Brian Armstrong, co-founder and CEO at Coinbase has a similar opinion.
Achievement unlocked! I dreamt about a sitting U.S. president needing to respond to growing cryptocurrency usage years ago. ‘First they ignore you, then they laugh at you, then they fight you, then you win.’ We just made it to step 3 y'all.