Changpeng Zhao CZ AMA: Cryptocurrency and banks must coexist; don't instill in children "study hard, work hard"

Binance founder Zhao Changpeng CZ hosted an AMA on Twitter Spaces on May 1, where he was asked about a series of bank crises in the United States, regulatory issues, and the recent popularity of meme coins. When discussing children's education, he expressed the belief that instilling in children the values of "hard work, learning, and making money" is not useful for the future.

This content is summarized from the CZ AMA and may be presented differently due to the thematic paragraph requirements. For the detailed content and discussions of the AMA, please refer to the Twitter Spaces link.

CZ AMA | Success in Crypto Should Not Depend on Banks' Failures, Coexistence is Key

Q: What does the current state of the U.S. banking system represent in contrast to Bitcoin and cryptocurrencies?

CZ believes that the success or failure of banks is not directly related to cryptocurrencies. When people cannot deposit money in banks, they may invest in stocks, real estate, or gold, with cryptocurrencies being a new option in recent years and one of CZ's favorites. However, he does not see bank bankruptcies as beneficial to the crypto industry:

We should not rely on the failures of others to achieve success. Cryptocurrencies should be able to coexist with fiat currencies. What we need to do is make cryptocurrencies easier to use. The more successful banks are, the better it is for cryptocurrencies because when everyone is economically successful, the accumulated money and value naturally increase.

CZ AMA | Traditional Bank Support is the Biggest Challenge

Q: What challenges have you faced in following compliance processes in various countries?

CZ emphasizes that obtaining support and cooperation from traditional banks is absolutely the biggest challenge. At the same time, their current regulatory strategy is:

To put more effort into countries that welcome cryptocurrencies and to spend less energy on countries with unfavorable crypto regulations.

CZ AMA | No Listing for Coins with Only Two Weeks of Hype

Q: How popular do meme coins need to be to be listed on Binance?

CZ points out that he does not evaluate any projects or tokens for listing and does not have time or want to be involved in the listing process to avoid suspicion. User willingness seems to play a significant role in the listing probability. CZ mentioned:

If many users want to trade a certain coin, we are likely to list it. However, if a coin's hype lasts only two weeks, we might not list it. We do not oppose meme coins; for example, we have listed Shiba Inu (SHIB).

(Looking at meme coins from data: PEPE tops in user interest on Nansen, followed by AIDOGE, liquidity differences reveal the truth)

CZ AMA | Children Should Not Be Taught to "Study Hard, Work Hard, and Earn Money"

Q: At what age should children start learning about cryptocurrencies?

CZ predicts that children will inevitably come into contact with cryptocurrencies in the future, and the next generation of children will have a more open attitude towards cryptocurrencies, using them more directly. He stated:

Although the content of Binance Academy is more suitable for adults, it is important to let children naturally learn financial concepts from a young age. I sincerely believe that we should not teach children to study hard, work hard, and earn money. This will not be useful in the future. What will be more important in the future is entrepreneurship, innovation, and global business, which require a better understanding of "money." This is what we should focus on and improve for the future.