Binance founder Changpeng Zhao said the cryptocurrency industry has endured the most severe “crypto winter” in its history while maintaining strong underlying fundamentals.
Speaking at Bitcoin Asia 2026 in Hong Kong, Zhao said the market has matured significantly following previous sharp declines. The Binance founder, widely known as CZ, also offered a broadly positive outlook for the sector’s future.
Real-world asset tokenization gains momentum
Zhao said expectations are particularly high for the tokenization of real-world assets (RWA). He noted that putting tokenized assets on-chain could reduce time and cross-border transaction constraints, while also improving liquidity for small and medium-sized assets by connecting them with investors worldwide.
Global cryptocurrency regulation
Discussing regulatory approaches around the world, Zhao identified the United Arab Emirates (UAE) as one of the leading countries in cryptocurrency regulation. He added that the United States is making rapid progress in establishing rules for stablecoins and cryptocurrency exchanges.
Zhao said Japan has adopted a crypto-friendly approach, Hong Kong’s market is expanding rapidly, and Singapore is following a more cautious policy than some other regions.
Decentralized exchanges continue to mature
CZ also said decentralized exchanges (DEXs) have made significant advances in both technological infrastructure and user awareness over the past eight years. According to Zhao, DEXs have become a more mature part of the cryptocurrency ecosystem, and the sector could make an even greater leap forward if regulatory conditions were relaxed further worldwide.
Zhao’s comments highlighted regulatory clarity, broader adoption of RWA tokenization and continued development of decentralized finance infrastructure as potential drivers of the cryptocurrency sector’s next growth phase.
This is not investment advice.
