CZ said improving policies could draw crypto firms back after an earlier exodus to hubs like the UAE and Singapore.
Binance founder Changpeng Zhao (CZ) said the U.S. crypto market suffers from a lack of competition that disadvantages consumers, while also accusing mainstream media of ignoring recent court rulings in his favour, speaking at the DC Blockchain event on Wednesday, March 18.
Appearing virtually from Dubai, due to suspended flights following Iranian attacks, CZ said the U.S. needs stronger competition among crypto exchanges, arguing this would improve pricing and market efficiency.
Adding: “Competition is the best consumer protection.”
He pointed to higher trading costs for U.S. users compared with global markets.
CZ added that the U.S. is also lagging in liquidity compared with other regions.
CZ also criticized what he described as one-sided media coverage of allegations against him and Binance, particularly around claims of facilitating illicit finance.
He said recent legal developments had not received comparable attention, even though judges found “no evidence.”
CZ said that negative narratives continue to shape public perception, claiming that a large portion of the population still only reads “traditional media.”
CZ also denied allegations that crypto platforms benefit from illicit activity, claiming that no exchange or business would want to “touch that.”
He described such claims as unfounded.
CZ Believes Crypto Is Coming Back To U.S.
CZ also said the U.S. is beginning to attract crypto entrepreneurs back after a period of regulatory pressure that drove firms overseas.