Binance founder Changpeng Zhao, or CZ, said at the Bitcoin Asia 2026 conference on Aug. 27 that a crypto industry built around more than one blockchain is better for Bitcoin than a market centered on Bitcoin alone.
According to CZ, the industry would have developed much more slowly if Bitcoin had been the only chain. He said the existence of Ethereum, BNB Chain and other blockchains does not weaken Bitcoin and has in fact supported its growth. Without other blockchains, he said, Bitcoin would be smaller than it is today.
Crypto is not a zero-sum industry, CZ says
CZ said developments that are good for Bitcoin are also good for other blockchains, arguing that the sector is not a zero-sum game in which one network must take from another.
He described Bitcoin as having its own clear use case and said it is the largest asset by market capitalization and the most decentralized one. He added that Bitcoin will remain a reserve currency for a long time. At the same time, he said other blockchains are where more innovation happens, because it is easier to try new things there first.
Other chains can serve as testing grounds for innovation
CZ said it would be a positive outcome if Bitcoin later adopted innovations first tested on other chains. On that basis, he said most “Bitcoin maximalists” also recognize that promoting only Bitcoin is not always the best approach.
He also made clear that he remains a strong supporter of Bitcoin. Referring to the conference itself, he said the event is now called Bitcoin Asia, but in the early days the broader crypto industry was often referred to as the Bitcoin industry before the term “crypto” became more common.
CZ says labels matter less than industry growth
On naming, CZ said he does not think the word “crypto” works particularly well, because many ordinary people hear the term and find it intimidating or overly mathematical. He said people without a math background may feel distant from it. By contrast, he said “Web3” is an acceptable label.
Still, CZ said terminology is not the key issue. What matters more, in his view, is pushing the whole industry forward. He said the market should include multiple blockchains, multiple exchanges, multiple decentralized exchanges and a wide range of products.
An open approach to diversity
CZ said diversification creates competition, more innovation and more momentum. Because decentralization sits at the core of the industry’s ideas, he said the sector should adopt an open attitude and accept diversity rather than setting one ecosystem against another.