Bankless CZ's Bear Market Plans
Jul 2, 2022
CZ, the Founder and CEO of Binance, shares insights into navigating the current bear market. He discusses how Binance is adapting its strategies and seizing opportunities while focusing on cash sustainability. The conversation highlights how the exchange is enhancing financial access in developing countries and its plans for the future of the BNB chain. CZ also addresses concerns about centralization and the potential long-term impact of crypto on society, providing an optimistic view of the industry's trajectory.
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Bear Market Investing
- Focus on a small number of projects that you know well.
- If you know the project will survive and you can tolerate the risk, invest.
Bear Market Duration
- Bear markets historically last 2-2.5 years in crypto, following a cyclical pattern.
- This time feels different due to macro factors, but these could theoretically help crypto.
Bear Market Hiring
- Hire talent during bear markets, as there's more availability and reasonable salaries.
- Prepare for the next bull market by scaling up systems and having a strong team in place.