Binance founder Changpeng Zhao, known as CZ, said on the 《When Shift Happens》 podcast that he does not oppose Hyperliquid and welcomes more centralized and decentralized trading platforms to keep innovating, arguing that the crypto industry is still far from saturated. He estimated that around 5% to 15% of the population owns some form of crypto asset, while crypto penetration as a share of personal wealth allocation may still be below 1%, which in his view shows the sector remains in its early stage. Zhao said some members of the Hyperliquid community have tried to build their community by criticizing centralized exchanges and Binance, but he described that as normal competition and said he is not against the project. He also said Trump’s earlier mention of Hyperliquid was good for the industry, adding that assets such as HYPE, BNB and Bitcoin could all benefit from overall sector growth. Zhao added that first movers do not always become the biggest long-term winners, citing Google, Facebook and Binance as companies that were not the first products in their respective fields.
Binance founder Changpeng Zhao, or CZ, said on the 《When Shift Happens》 podcast that he does not oppose Hyperliquid and welcomes more innovation from both centralized and decentralized trading platforms, saying the industry is still far from saturated.
Zhao estimated that roughly 5% to 15% of the population owns some type of crypto asset. Measured by portfolio allocation within personal wealth, however, crypto penetration may still be below 1%, he said, which he sees as a sign that the sector remains at an early stage.
Speaking about Hyperliquid, Zhao said some members of its community have tried to build their base by criticizing centralized exchanges and Binance. He said he views that as normal competition and is not against the project.
He also said Trump’s earlier mention of Hyperliquid was very good for the industry. Assets including HYPE, BNB and Bitcoin could all benefit from the growth of the broader sector, according to Zhao.
Zhao added that being early does not guarantee becoming the biggest long-term winner. He pointed to Google, Facebook and Binance as examples of companies that were not the first products in their respective fields, saying later entrants can often improve on what earlier players built.
Although he holds a large amount of Binance equity and BNB, Zhao said centralized exchanges make up only part of his asset allocation. Rather than focusing on expanding a single platform, he said he would prefer to help grow the entire crypto industry.
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