In a recent interview, Binance CEO Changpeng Zhao said that the present cryptocurrency market is volatile, but this is the best time to invest in the industry.
He said the crypto bear markets are the moments investors can find opportunities at excellent prices.
“This is the best time to invest in the industry. We did this four years ago during the bottom of the bear market, the last cycle. It worked out extremely well. We invested a couple of a hundred million dollars, and now our portfolio is worth $7 billion,” Zhao added.
To enhance its product line and to keep up with the market space, Binance recently announced that its chief marketing officer Yi He, will take over as the new head of Binance Labs.
Regarding the Binance growth plan, Yi said she would focus on supporting talented risk-takers and enhancing the widespread adoption of Web 3.0 technology.
“Web3 will only truly become mainstream when its products weave seamlessly into users’ lives. To expedite widespread adoption, we need to focus our resources on supporting those projects,” she said.
Last month, Binance said that $500 million would be invested in projects that can extend the use cases of cryptocurrencies aiming to adopt Web3 and blockchain technologies.