In a hot seat video, Binance CEO, ChangPeng Zhao, or CZ, has said that Binance lists 1 (one) in 10, 000 coins that ever get created.
This is just 0.01% of all coins and tokens within the crypto space are listed on Binance, the largest crypto exchange in the world.
According to CZ, this is a very small number considering the crypto space is still a very nascent industry.
“We do try to list projectst that we think are solid. We look at multiple metrics to prevent people from engineering the user numbers, but we do try to select the best projects in the industry.”
– CEO, Binance
At the same time, CZ highlighted the importance and role that centralized exchanges like Binance are playing in helping bring money into and out of crypto.
In addition, the proliferation of hackers, ponzi schemes, and scammers means users and traders are much safer using centralized exchanges that come with KYC and customer support, unlike the wild west of DeFi.
Binance has over 90 million users globally and remains the largest exchange by far globally.