CZ Says US Lags in Crypto Liquidity, Eyes Binance Revival

Zhao said the US is falling behind global crypto markets due to weaker liquidity, as he floated the possibility of "revitalizing" Binance's US operations.

According to Zhao, most crypto liquidity sits outside the US, with Binance continuing to lead global trading activity. Binance is currently the world's largest cryptocurrency exchange by volume, recording more than $8.9bn in daily trading volume over the past 24 hours, according to CoinGecko data. 

"To provide that [liquidity], either bring back Binance, or revitalize Binance US… [to] provide the best liquidity in the world and the best prices for consumers," Zhao said, adding that he was also referring to liquidity across decentralized finance (DeFi).

Zhao explained that US institutions only recently gained access to Binance's BNB token, leaving the ecosystem under-represented in the country. However, he called the gap a potential opportunity as adoption grows. 

Currently, BNB is the fourth-largest cryptocurrency with a market cap of more than $86.7bn. It is currently trading at around $642, down 1.3% at 17:55UTC.

Growing regulatory clarity

Zhao's comments come as regulatory pressure in recent years has pushed a lot of trading activity offshore. However, with US regulatory clarity beginning to gain traction, Zhao said Binance is exploring revamping operations in the US.

"For the last few years, I've been trying to avoid the US… Obviously, the US policy to crypto has changed… and now I have to make up for this absence," he said. "The US [has] the fundamentals, the talent pool, the financial markets… traditional regulatory frameworks... The US right now is leading the world in terms of [crypto] policies."

Zhao also discussed his thoughts on artificial intelligence (AI), arguing that autonomous agents could soon generate "millions of times more" payments than humans. He said blockchain is the most natural system for those transactions, as it allows borderless, permissionless payments.

The Binance founder's appearance at Consensus was part of a coordinated push, with other executives performing interviews and briefings at the event.