The turmoil in the crypto market won’t impact the role of cryptocurrency as a store of value, Binance chief executive Zhao Changpeng said in an interview with the South China Morning Post, adding that the use of high-yield leveraged products worsened the rout in the $247 billion decentralised finance industry over the weekend.
Crypto will play a major role in the future of Web 3, the next avatar of the internet that is based on blockchain technology, Zhao said.
Read the full report: South China Morning Post.
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