Binance CEO Changpeng Zhao said the industry is now in a “healthier” state after an “unpleasant” 2022.“I expect a recovery. I believe 2022 was a really unpleasant year, too many things happened in the last six months. The industry is healthier now. The trick for us is to keep an eye on the industry and then try to support it no matter what happens,” he said.The entrepreneur also commented on the collapse of FTX and compared the company to Madoff’s fraudulent empire. However, he stressed that not all companies are as bad as FTX.Zhao added that Binance is in a fairly strong position and is focused on growing the market, not making money.“We have enough revenue today. We’re not trying to maximize profits. We want to be sustainable,” he said.According to the head of Binance, the blockchain startup industry is also back to normal, since just a year ago they were astronomically overvalued.
