Binance CEO Just Made A Bull Run Prediction

Changpeng Zhao, the CEO of Binance, is feeling optimistic about the future of decentralized finance (DeFi) in light of a recent court ruling.

The ruling dismissed a case against Uniswap, a decentralized crypto exchange (DEX), that sought to hold the platform accountable for the financial losses of investors who traded “scam tokens” on the protocol.

Judge Katherine Polk Failla of the Southern District of New York determined that the decentralized nature of Uniswap made it impossible to identify a defendant in the case.

During an Ask Me Anything (AMA) session on X, Zhao praised the ruling and stated that it is a positive development for the DeFi space.

“I agree with the fact that the Uniswap ruling was extremely positive. It’s also extremely reasonable and logical and clear, so that’s very good. Developers writing code, and code is basically free speech, so I think that development is really good.

As I said many times before, I think DeFi is the future.”

According to Bitwise, a crypto asset manager, Uniswap has recently surpassed Coinbase in trading volume during the first quarter of 2023.

This is seen as a positive sign for DeFi by Zhao, who believes that during the next bull run, DeFi could become larger than centralized finance (CeFi).

Currently, DeFi volume accounts for approximately 5% to 10% of CeFi volumes, which is a substantial amount. Uniswap’s trading volume has been greater than Coinbase’s spot volume for the past two quarters.

Zhao believes that a more decentralized industry will be beneficial for the industry overall.

In other recent news, retail investors who have been seeking exposure to Bitcoin over the past few years have already found ways to do so, and there may not be significant inflows from them.

However, sovereign wealth funds and large institutions are unlikely to purchase spot Bitcoin on Coinbase, and this is where ETF inflows may occur. As of now, Bitcoin is being traded at $25,672.