CZ said the recent crypto-market decline had no confirmed single cause, pointing to inflation and policy uncertainty among several possible pressures.
He also raised the possibility that capital was moving toward an Anthropic initial public offering. He cautioned that events unfolding at the same time do not establish what caused the decline.
CZ cited a stronger U.S. dollar, higher yields and inflation as possible pressures, alongside uncertainty after U.S. midterm election results, greater expectations of another Federal Reserve rate increase and concern about tighter crypto rules.
CZ said Binance had not sold cryptocurrency. He said he had bought digital assets in recent days after receiving stablecoins and joked that his purchases might have contributed to the drop. He said he expected the crypto industry to keep growing over the long term.
