Ella Zhang, head of Binance Labs, believes that the explosion of the ICO bubble will have a positive impact on the development of the crypto industry.
Ella Zhang joined the Binance Crypto Exchange team less than 2 months ago. She notes that even though the bull market has a positive atmosphere thanks to the constant flow of users, only the explosion of the ICO bubble can open up new opportunities for truly valuable projects. Zhang, however, is not ready to give a forecast when this explosion can occur.
She added that she and her supporters would like the bubble to burst. They continue to observe the hype in the crypto-currency market, while prices, according to Zhang, are quite high and unreasonable. In addition, Zhang explained that with the help of the so-called Cryptocurrency Governance Initiatives (CGI) program Binance provides assistance in combating fake projects, which are actively appearing against the background of the hype around digital currencies.
As part of this initiative, representatives of Binance support the funds and development teams of tokens with which they cooperate. The latter, however, must promise that they will not take part in the Pump and Dump schemes, and will also develop products according to the strategy described in White Paper. If this promise is violated, Binance will refuse further support of the funds and conduct delisting of the tokens.
Earlier, Ella Zhang was the director of investment in the venture firm Kleiner Perkins Caufield & Byers – she believes that there may be a conflict between investing in tokens and shares, as they are evaluated in different ways. Zhang added that if the team sees that the founders are making efforts to develop the two directions, then they will support both directions. Sometimes it is difficult enough to understand which of the two is of great value, but the task of Binance is to support founders and increase the effectiveness of projects in general.