WuBlockchain
Binance founder CZ said in a September 25, 2026 interview that the crypto industry needs more participants in its early stages and that Binance welcomes the emergence of more decentralized exchanges. He added that first movers do not necessarily become the biggest long-term winners, as later products can build on and improve earlier ones.
Why it matters
CZ’s remarks present new DEXs as potential contributors to market growth, rather than simply competitors taking share from established platforms. His comments also underline how leadership can shift as products evolve.
Market impact
Asked why Binance has not listed HYPE on its spot market, CZ pointed to previous circulation and asset-custody arrangements that may not have met Binance’s counterparty-risk requirements. He said those issues may have changed, but did not confirm a listing.
Frequently asked questions
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Why does CZ say the crypto industry needs more decentralized exchanges?
He said more participants in the industry's early stages can help expand the overall market, and that Binance welcomes the emergence of more DEXs.
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Does CZ think first movers will remain the biggest crypto winners?
No. He said first movers do not necessarily remain the biggest winners over the long term, as later products can build on and improve earlier ones.
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What reason did CZ give for Binance not listing HYPE on spot?
He said HYPE's previous circulation and asset-custody arrangements may not have met Binance's counterparty-risk requirements.
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Did CZ confirm that Binance will list HYPE?
No. He said the issues around HYPE's circulation and custody may have changed, but did not confirm a spot listing.
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What does CZ's view of later-generation products imply about competition?
His comments indicate that early market entry does not guarantee lasting leadership, since later products can improve on what came before.
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