Binance Welcomes DEXs with Open Arms

Binance's Changpeng Zhao (CZ) has signaled his support for decentralized exchanges (DEXs), stating that they are a net positive for the broader crypto industry. This comes as Binance listed Hyperliquid's HYPE token for spot trading on its platform, waiving the usual listing fee of zero BNB.

CZ argued that increased DEX participation is evidence that the industry is maturing and cited global crypto ownership rates sitting between 5% and 15% of the population. He also noted that digital assets represent less than 1% of the average person's net worth allocation, suggesting that there is still room for growth.

The listing of HYPE on Binance marks a significant milestone for Hyperliquid, as it expands its addressable trading base substantially and allows traders to access the token without needing to bridge assets or set up a separate wallet. CZ's comments also highlight Binance's focus on emerging markets, with the exchange offering trading pairs in three currencies, including the Turkish lira.