The CEO of Binance, the world’s largest
cryptocurrency exchange, doesn’t try to explain
why some cryptocurrencies that started purely
as a joke have surged so much in price.
He also doesn’t want to say if the exuberance for
meme coins like Dogecoin is an indication of a
dangerous bubble. But Changpeng Zhao, who
goes by “CZ,” does say that it shows the power
of decentralization, which has underpinned the
huge growth for crypto.
Led by Bitcoin, cryptocurrencies have swelled
in value to more than $2.6 trillion, putting them
on par with the world’s most valuable stock,