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Changpeng Zhao Spends 20% of His Time Interacting on Twitter

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Active Twitter user Changpeng Zhao, or CZ, CEO of crypto exchange giant Binance, explained his use of social media, which has played a key role in his exchange’s community engagement. 

CZ said his Twitter activity is not part of any overarching goal. “It’s really just a way for me to interact with our community, which I budget roughly 20% of my time to,” CZ told Cointelegraph. 

CZ’s Twitter game has been strong since Binance’s inception

CZ said he has given social media this type of attention since the exchange’s early days. Binance kicked off its initial coin offering, or ICO, in 2017, becoming one of the biggest players in crypto in the following years. 

Binance actually first used Chinese messaging platform WeChat, CZ said. When the platform’s 500-person group restrictions became a problem, CZ shifted gears over to Slack.

After leaving Slack due to security problems, Binance shifted to Telegram, where the exchange now hosts hundreds of thousands of participants. “Nowadays, if I jump in there, it immediately becomes an AMA session,” CZ said, adding:

“With a large amount of users chatting together, whatever I say only stays on the screen for two seconds. It just scrolls too fast. It’s very difficult to view the chat history.”

The CEO sees Twitter as an effective avenue

CZ noted Twitter as effective for his community engagement currently, as the platform allows vast viewership. “I personally don’t have a strategic goal when Tweeting,” CZ said. “I just be myself when I tweet,” he explained. 

Binance holds a large social media presence, which CZ said is a result of his and the company’s interaction with participants of the industry. 

He added:

“Part of that is also my unfiltered expressions which can also come with some criticism, and my intention is never to hurt anyone even when the Twitterverse tries to stir up the pot. No one is perfect and we’ve all had our share of blunders. I think it is important for the community to know who we are, how we think, etc.”

The CEO said he puts significant effort into hearing out the community, as well as fellowshipping via interviews and other formats, which all leads back to Binance’s ultimate improvement. 

Binance has become a behemoth company, not just by industry standard, but in general, as it recently surpassed the 1,000 employee count, tallying a staggering 2,000% increase in less than three years. 

Source: https://cointelegraph.com/news/changpeng-zhao-spends-20-of-his-time-interacting-on-twitter

Blockchain

A senior BOJ official says the digital yen needs public support for it to become a reality.

According to the Bloomberg report, a senior Bank of Japan’s official said that there is no final decision has been made yet even after the announcement of testing to start next year. The official revealed that a lot depends on the public support for it to go ahead with its central bank-backed digital currency. Kazushige […]

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A senior BOJ official says the digital yen needs public support for it to become a reality. – Coinnounce




























The central bank of Japan’s move to launch a digital currency would be conditional on public support, according to a senior BOJ official.


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Source: https://coinnounce.com/bank-of-japan-official-says-cbdc-needs-public-support/

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Japanese soccer star Keisuke Honda launches his own crypto

Crypto and blockchain matter for the global soccer community.

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A Japanese professional soccer player is launching his own cryptocurrency to boost fan engagement.

Keisuke Honda, former Japan midfielder and currently a captain of the Brazilian professional league team Botafogo, has launched his own token to build new connections with his fans, Cointelegraph Japan reported on Oct. 22.

The so-called “KSK Honda Coin” was launched on Thursday via Rally.io, a blockchain platform for creating video streaming and gaming applications. The new coin is intended to enable fans to interact with Honda.

Holders of KSK Honda token will be able to get exclusive content from Honda as well as interact with the player via private channels on Discord. “We decided to create a social token to build new connections with our most loyal fans,” Honda said.

The world-known soccer player said that the new token will allow him to connect with fans in a more open manner, providing a 100% transparency in knowing who holds coins in the fan community.

The global soccer community is moving deeper into the crypto and blockchain industry in search of new ways of connecting stars with their fans.

On Oct. 15, a top soccer club in Russia’s Premier League — Zenit St. Petersburg — signed on to the blockchain-based gaming platform Sorare to issue collectible and tradeable digital cards. In September 2020, Italian professional sports club SS Lazio signed a multiyear deal with crypto trading platform StormGain, enabling new fan engagement options through crypto.

Source: https://cointelegraph.com/news/japanese-soccer-star-keisuke-honda-launches-his-own-crypto

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Grayscale invests $300m in a day to grow its crypto portfolio

Grayscale Investments continues to grow its cryptocurrency portfolio by adding $300 million in assets…

The post Grayscale invests $300m in a day to grow its crypto portfolio appeared first on Coin Journal.

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Grayscale Investments continues to grow its cryptocurrency portfolio by adding $300 million in assets under management (AUM) in a day

Grayscale Investments revealed that it had added $300 million worth of cryptocurrencies to its digital assets portfolio over the past 24 hours and over $1 billion in the last week. This information was relayed by Grayscale CEO Barry Silbert via a tweet yesterday.

The crypto fund manager noted that it had $6.3 billion in AUM as of October 15. However, it has added $1 billion in cryptocurrencies over the past week, and the company now controls $7.3 billion worth of digital assets.

Silbert stated that the company “Added a cool $300 million in assets under management in one day. The additional sum brings the total assets held under management to $7.3 billion”.

The funds are held in the company’s trust for Bitcoin (BTC) and Ethereum (ETH), in addition to Grayscale’s digital large-cap fund. This latest development comes less than 48 hours after PayPal announced its entry into the cryptocurrency market, with Bitcoin surpassing the $13,000 mark afterwards.

Each Grayscale report is delayed by 24 hours, which means that this data refers to the previous day’s figure.

The cryptocurrency funds manager reported that its Litecoin (LTC) Trust recorded the highest growth since the last report. Grayscale reported that its LTC Trust increased by 7.5%, while their Zcash (ZEC) Trust increased by more than 6% over the past 24 hours. Grayscale also has extensive holdings in other cryptocurrencies such as Ripple (XRP), Ethereum Classic (ETC), Bitcoin Cash (BCH), Horizen (ZEN) and Stellar Lumens (XLM).

Grayscale might be increasing its cryptocurrency holdings after raising massive funds in the third quarter of the year. Grayscale’s financial report for Q3 2020 revealed that it had bought over $1 billion in investment across all its cryptocurrency trusts. This year, Grayscale has raised $2.4 billion, which is more than twice the total amount they obtained for the years 2013 – 2019.

The investment firm revealed that 81% of investment in the third quarter came from institutional investors, while another 57% came from people investing in multiple products.

With the crypto fund manager now holding over $6 billion in AUM, it means that Grayscale controls around 2.5% of the total Bitcoin supply, currently above 18,000 BTC. The Bitcoin supply is capped at 21 million, which means that roughly 2.5 million bitcoins are left to be mined.

Grayscale isn’t the only company that is increasing its stakes in cryptocurrencies at the moment. MicroStrategy recently bought $425 million worth of Bitcoin, and Jack Dorsey’s Square Inc. invested $50 million in Bitcoin.

Source: https://coinjournal.net/news/grayscale-invests-300m-in-a-day-to-grow-its-crypto-portfolio/

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