Binance Isn’t FTX. It’s Much Bigger and More Systemically Important to Crypto

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In every single corner of the crypto landscape, one name pops up: Binance.

Run by Changpeng “CZ” Zhao, the world’s largest crypto exchange is a dominant force in everything from Bitcoin trading and digital art to venture capital. With its power and influence only increasing after the collapse last year of Sam Bankman-Fried’s FTX empire, the inconvenient truth is that BINANCE has a grip on the $1.1 trillion industry that has few parallels in traditional finance. That’s despite all the decentralization talk from crypto’s true believers.

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