Following the sudden drop in Bitcoin (BTC), Binance founder Changpeng Chao (CZ) issued an important warning to investors on risk management via social media platform X.
CZ argued that market fluctuations are normal and investments should be kept at manageable levels.
CZ explained, “At the time, it seemed risky to sell my house and invest fully in cryptocurrencies, but I didn’t need that kind of money. I was counting on my monthly income. Everyone’s risk is different. Markets change all the time. Learn risk management and keep your investments manageable. Don’t concentrate your assets too much. Don’t be too greedy in good times or too fearful in bad times.”
However, CZ also spoke about the market reaction after yesterday’s announcement of the purchase of ASTER tokens.
CZ said his post from the previous day had been “over-interpreted” and said: “There has been a lot of misunderstanding following what I said yesterday.” A public opinion poll was launched asking whether information should be disclosed in the future. As you may recall, Binance founder CZ recently announced that he purchased tokens from decentralized finance platform ASTER with his personal funds. According to the screenshot of CZ’s post, he holds 2,090,598.14 ASTER with a trading price of $0.913.
*This is not investment advice.
