Binance CEO CZ Explores AI's Impact on Cryptocurrency in Latest Twitter Spaces AMA

So Binance has been implementing AI across our products in several areas. Our team recently integrated ChatGPT into Binance Academy. Now, Binance Academy, which is a free educational resource on Binance.com, covers all the intricate details. You can interact with AI, and if you ask for something, the AI will attempt to provide you with a response. That's the most recent example. Before that, we've been using AI to power our customer support desk. More recently, we've been applying our AI alongside compliance tools.

We have always been working with multiple stablecoin partners, but USD is one that they wanted us to add our branding support. Binance is never exclusive to just one partnership; we never sign exclusivity deals. So I think it's beneficial to see more and more stablecoins being promoted. I believe that fiat-backed stablecoins will continue to exist for a long time to come. Algorithmic stablecoins have mixed risk characteristics. People need to understand those risks. Long-term, I do see non-fiat-backed stablecoins taking over. I think Do Kwon had the right idea. He just executed poorly, and he was also not transparent enough about the risks involved in an algorithmic stablecoin.

There are certain innovative ways to adjust based on inflation-linked curves so that you get exactly the inflation rate in terms of the underlying asset. And if you peg a stablecoin onto that, then that stablecoin is pegged to the inflation rate […] there are some interesting innovations and discussions happening on top of that.

Read more: Inflation-linked stablecoin from Frax Finance is a big deal, here's why

I'm not that deeply involved in the BNB development. So in terms of the various BNB chains, there are different teams working on that, and then the various projects in the ecosystem […] I think as a decentralized ecosystem, it's better for the community to just pursue whatever they want to develop […] There's the BNB Ecosystem Fund, which is managed by sort of BNB ecosystem, the BNB Foundation or team. So they decide relatively independently which projects to give grants. The grants are usually quite modest. Around $50K, but sometimes as much as $250K.

We're still committed to Voyager and really committed to closing that deal and serving the users there.

Additionally, CZ revealed that Binance had scaled back on some commitments, citing the US as having a more negative business environment in terms of regulatory clarity and adoption stance.

“I think the US this year doesn't look great.”

On the other hand, CZ mentioned that places like London, Dubai, Singapore, and Abu Dhabi were extremely favorable towards crypto. Additionally, Hong Kong and Japan had become more positive towards crypto as well.

CZ alluded to the explosive recent Wall Street Journal article that contained leaked Signal messages from the Binance CEO, recent revelations claiming that Binance and Binance U.S. are more intertwined than previously thought.

In response, CZ tweeted last week “4” — referencing an earlier Twitter reminding his 8.2 million followers to “ignore FUD, fake news, attacks, etc.”

The 4 quickly became a meme on crypto Twitter, with users uploading photos of themselves holding up four fingers.

The FUD “just gives us more exposure and more attention. Most users are very smart today, and we actually only want the intelligent users on our platform,” CZ said, “the people who believe in FUD, we actually probably don't want those users on our platform.”