CZ admits: RWA growth came as a surprise to Binance founder

Binance founder Changpeng Zhao admits that he seriously underestimated the growth of Real World Assets (RWA) in the crypto sector. Until about a year and a half ago, he did not see this segment becoming so large, he now says.

Zhao made this remark during a Binance community meeting in Bali in late August. He admitted that he had also been wrong before about the popularity of NFTs and memecoins. According to the Binance founder, many trends in the crypto world have come and gone that he initially did not believe in.

In short:

• CZ underestimated the growth of Real World Assets and is now beginning to understand its potential
• The Binance founder admitted he had previously been wrong about NFTs and memecoins
• Zhao says many crypto trends initially eluded him and he only understood them after they had become popular

Trends Zhao did not see coming

Zhao’s remarks offer insight into how difficult it is for even experienced entrepreneurs to correctly assess future developments in the crypto industry. RWAs, which represent physical or financial assets such as shares and real estate on blockchains, have become increasingly prominent in recent years.

The Binance founder acknowledges that he did not take this segment seriously enough for a long time. Now he sees its appeal, even though it took until recently for him to fully understand it.

Several market movements underestimated

Besides RWAs, Zhao also admitted he underestimated the surge in popularity of NFTs. Similarly, he initially believed memecoins would have no lasting value, while this category eventually gained considerable importance.

These admissions show that even influential figures in the crypto industry cannot always foresee all market developments. The sector continues to develop rapidly, with new areas demanding insight and acceptance.