Binance removed stock trading and focusing on Web3
Changpeng Zhao, CEO of Binance, the largest crypto exchange, said in an interview with Decrypt that stocks will not be traded on the platform. And this despite the profitable nature of this direction. However, Binance plans to evolve as a company focused on building Web3 tools. Therefore, the presence of stock trading in the product line contradicts the chosen direction. Starting October 14, 2021, trading in tokenized shares is also unavailable on the platform.
We are not going back, we are moving forward.
The exchange is now examing several companies as the potential acquisition targets during the bear market. Moreover, the deal should be as simple as possible, Zhao considers.