CZ Binance: no need to support bankrupt companies
Binance CEO says that not all companies need help in difficult times.
According to Changpeng Zhao, some failed companies are not worth bailing out. We are talking about poorly designed and managed companies. They must collapse to make way for a better product. It is also necessary to reduce the practice of using borrowed funds, which is popular in the industry.
The head of the Binance crypto exchange said these words after reports that many companies are supporting bankrupt companies afloat. Among them is the FTX exchange, which we wrote about yesterday. It provided funds to cryptocurrency lender BlockFi.
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