Don’t borrow if you run a crypto business: Binance CEO Changpeng Zhao

Following the announcement of a possible Binance buyout of troubled crypto exchange FTX, the former’s chief executive Changpeng Zhao (CZ) had some words of wisdom and suggestions to offer for the entire crypto universe in the early hours of Tuesday.

“First, never use a token you created as collateral. Second, don’t borrow if you run a crypto business. Don’t use capital “efficiently”. Have a large reserve. Binance has never used BNB for collateral, and we have never taken on debt,” he tweeted.