Umbrella DeFi is under a lot of pressure from many sides inside and outside the industry , CEO Changpeng Zhao still shows a strong belief in the development of the field.

Binance CEO speaks out to "defend" DeFi against many legal pressures
CEO voice "protection" before a lot of legal pressure

In the context of the whole industry is in a stalemate partly due to the general downturn in the market and mainly from the event of giving up his career. of the "godfather" Andre Cronje in April 2022, recently DeFi suddenly made waves again due to many legal factors surrounding the field.

Specifically, on October 20, information appeared that the Commodity Futures Trading Commission () – the agency that has just been assigned the task of monitoring the market released a draft of a new Bill to disadvantage DeFi developers, following the controversial proposal of the US Securities and Exchange Commission to purge DeFi () in early 2022.

Besides, CEO Sam Bankman-Fried also joined this regulatory “game” through a personal post about the crypto industry regulatory framework. However, Mr. Sam Bankman-Fried's view was strongly criticized by the public because he wanted to target DeFi management.

And until October 23, the richest person in the crypto world, Binance CEO Changpeng Zhao, has officially voiced this concern. Accordingly, Mr. Changpeng Zhao seems to have expressed support for DeFi with a brief message as follows:

“Binance is investing very heavily in the DeFi sector.

This is not investment advice.”

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