In March Binance launched its decentralized exchange, consistent with its long-term vision for the development of peer-to-peer trading cryptocurrencies. CEO Binance Chanpen Zhao in an interview with Forkast.news talked about a long-standing criticism of the Bitcoin Nouriel Roubini and his concerns about the cryptocurrency. The latter include wash trading or manipulation of the market by creating artificial activity, diagrams of a pump and dump, and fake volumes.
Roubini because of this, even called many of influenceof of cryptocracy and even Carpena Zhao “the merchants of snake oil”. However, according to Zhao, this practice is for the financial ecosystem is not new. Such methods can be found on the traditional markets.
In every industry there are problems and we’re not ignoring the existing ones. We do not live in a perfect world, not perfect use of technology. There are no technologies and a world without its shortcomings. The point is not that technology is imperfect. In the traditional markets there are also wash trading, insider trading, all the same problems. But with the problems you need to understand.
If the estimate is fair, from a technological point of view, crypto currencies have made great progress from the place where it all began. And even if they have not yet helped to solve all the problems of crypto-currencies at least use in other areas. And according to the CEO of Binance, “cryptocurrency is able to create for us a completely new future”.
It should be noted, Binance tries to identify attempts to manipulate the market, including wash trading. Perhaps that is why she was able to establish itself as one of the most reliable cripture in the world according to Bitwise and other cryptocladopelma firms.
In our cryptodata of hontarov there are still a lot of other useful information.
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