Why crypto payments remain unsolved
Despite Bitcoin being introduced as an electronic cash system, crypto payments are still not widely adopted in everyday life. According to CZ, many projects have attempted to solve this problem, but none have fully succeeded.
The core issue remains a chicken-and-egg problem. Merchants hesitate to accept crypto due to volatility and limited demand, while users lack incentives to pay in crypto where acceptance is scarce. Stablecoins help reduce volatility, but the ideal vision of paying directly in native crypto assets has yet to materialize.
One practical solution has been integration with traditional payment rails, such as crypto cards. In this model, users pay in crypto while merchants receive fiat. These systems proved effective, but regulatory pressure in recent years significantly slowed their expansion. With regulatory conditions improving, CZ expects such solutions to regain momentum over the next few years.
Binance’s original vision and its evolution
CZ reflected on Binance’s early days, noting that its rapid rise exceeded all expectations. Initially aiming to become a top-10 exchange in three years, Binance became the largest exchange globally within months.
The company experimented with decentralization at the organizational level, including operating without a headquarters. Over time, regulatory realities made it clear that centralized exchanges must operate as fully regulated entities with defined jurisdictions.
Today, CZ believes centralized and decentralized models will coexist. Centralized exchanges provide regulated access and scale, while on-chain solutions offer transparency and composability.
What kind of founders will win the next cycle
Looking ahead, CZ emphasized that the next cycle will reward product-driven founders. Success will belong to teams that build tools people actually use, understand their users deeply, and remain focused through volatile market cycles.
Crypto markets move through repeated bull and bear phases, while regulations oscillate between supportive and restrictive. Founders who can endure these shifts, remain ethical, and maintain long-term vision are the ones most likely to succeed.
Life perspective: uncertainty gives meaning
On a personal level, CZ shared a philosophy centered on uncertainty. He argued that life is meaningful precisely because outcomes are not guaranteed. Struggle, effort, and coordination are what make progress rewarding.
Rather than wishing for certainty, CZ values health and resilience above all else. He views unpredictability as a feature of life, not a flaw.
Is the Digital Asset Treasury model sustainable?
CZ believes the Digital Asset Treasury model fundamentally works, especially for public companies that are not structured to hold crypto directly. DATs provide exposure through familiar equity structures.
However, outcomes vary widely depending on management quality and strategy. Simple models that accumulate Bitcoin tend to be more robust, while more complex strategies introduce additional risk tied to execution and decision-making.
CZ highlighted that Bitcoin buy-and-hold strategies have historically outperformed most startups and traditional investments, making simplicity a strength rather than a weakness.
The United States as a renewed growth market
Following regulatory changes and a presidential pardon, CZ views the U.S. as an emerging market for crypto once again. Previous regulatory pressure forced Binance to retreat from the U.S., but conditions are now improving.
CZ expressed interest in helping bring crypto businesses, capital, and ecosystem development back to the U.S., particularly around the BNB Chain and institutional access.
Mental resilience under public scrutiny
CZ described his approach to handling criticism and negative media coverage. He distinguishes between ideological anti-crypto narratives and individuals reacting emotionally to financial losses.
Constructive feedback is valuable, while unproductive noise is filtered out. Letters of support from users reinforced his belief that Binance has delivered real value globally, particularly in regions with limited financial access.
What mainstream adoption really requires
True mainstream adoption, in CZ’s view, begins with regulatory clarity. Governments need clear frameworks, banks must integrate with crypto companies, and accounting, taxation, and custody standards must mature.
Crypto must integrate seamlessly into existing financial systems rather than exist in isolation. Payments, reporting, and auditing standards all need time to converge.
Crypto’s impact on developing economies
CZ sees some of the strongest use cases for crypto in developing countries, where traditional banking infrastructure is weak but smartphone adoption is high.
Crypto enables instant financial access, faster payments, and protection against unstable local currencies. For many users, even small gains in financial efficiency can have a life-changing impact.
Education and philanthropy as a long-term focus
CZ discussed Giggle Academy, a free education platform now serving tens of thousands of children globally. The project is not designed as a business, but as a long-term social initiative.
Education remains his primary philanthropic focus, with additional interest in transparent, on-chain charitable funding models.
The future of Web3 at scale
In a future where billions use blockchain-based systems, CZ believes the technology should become invisible. Users should not think about wallets, gas fees, or addresses.
Just as people use the internet without understanding TCP/IP, Web3 must abstract complexity away and focus entirely on user experience. Over time, network effects may consolidate the ecosystem around a few dominant platforms.
BTCUSA Insight
CZ’s perspective reinforces a recurring theme: crypto’s challenges are no longer technological, but structural. Payments, regulation, and integration — not innovation — are the remaining bottlenecks.
BTCUSA Outlook
As regulation stabilizes and institutions re-enter the market, crypto is likely to shift from experimentation to infrastructure. Payments, treasury strategies, and user experience will define the next phase of adoption.
The next cycle will not reward hype, but execution.
