Changpeng Zhao, Binance CEO, stated that the world’s largest digital-asset platform could invest more than $1 billion by the end. This is Zhao, also known as CZ in the crypto world. interview with Bloomberg.

Zhao made the statement after an attack on BNB Chain and one day after Binance obtained a Kazakhstani license.

CZ states that the majority will go to asset purchases and investment.

Binance investment plan

Binance has invested more than $325 million in 67 projects over the past year, despite the bearish crypto markets. Binance’s Venture Capital arm made investments in Aptos, which was founded by former Meta employees.

FTX, a Binance competitor, has begun to purchase assets from distressed crypto companies. Zhao answered a question about purchasing out crypto firms:

“Many of them, they just take a user’s money and give it to somebody else. There’s not a lot of intrinsic value. In that case, what’s to acquire? We want to see real products that people use.”

Do not be interested in acquisitions

Binance has not expressed interest in any distressed cryptocurrency firm. Binance is primarily focused on solutions for NFT Protocols (DeFi) and other crypto firms. It is specifically focused on solving persistent issues in the crypto market such as software attacks and tightening regulation.

Zhao claimed that Binance had been investing heavily in fan tokens, non-fungible tokens (NFTs) and traditional payment services providers. Zhao also claimed that Binance is still economically viable, despite current turmoil in crypto markets and the largest financial sectors.

Zhao stated that Binance could be interested in acquiring minority stakes of traditional gaming and eCommerce businesses through traditional payment service providers.

Binance has an additional $7B fund for partnership and a team of over 30 people who focus on acquisitions and mergings.