If the ICO bubble bursts, it will be a good sign for the entire cryptocurrency industry. This is the position of the head of Binance Labs Ella Zhang, reports Cointelegraph. In her opinion, large investors will come to the market only after the collapse of senseless projects that collect tens of millions of dollars.
Zhang joined Binance just a few months ago. She believes that the crypto market retains a bullish mood, as even now it is possible to observe the influx of new investors. However, the bubble inflated ICO interferes with truly worthwhile projects to receive funding.
"We would like to witness the collapse of the ICO. Now on the market too much hype and unrealistic expectations. If the ICO bubble bursts, the crypto market will be able to go really big money."
Zhang also added that Binance struggling with Scam projects to this in the exchange unit was established Cryptocurrency Governance Initiatives (CGI). The main goal of the Department is to protect inexperienced investors from losing money.
I remind you that the Binance Fund has a total capitalization of about a billion dollars. Binance Labs will direct its funds to invest in new projects. The volume of each investment varies from one to ten million dollars. The exchange is also going to cooperate with twenty new crypto funds.
