Binance founder Changpeng Zhao believes crypto may be entering a new phase shaped by AI agents, tokenized real-world assets, stablecoin competition, and a more favorable regulatory environment in the United States. Speaking on ARK Invest’s FYI podcast with Cathie Wood and Lorenzo Valente, CZ argued that the industry is moving faster than many traditional financial firms may be ready for. He noted that some parts of crypto have developed differently than he expected. Payments, for example, have been slower to go mainstream, even though crypto cards have made digital assets easier to spend indirectly. On the other hand, institutional involvement in the US has picked up faster than anticipated, helped by what he called a “180 degree turn” in the country’s stance on crypto. “I was very surprised by the 180 degree turn in the US,” CZ said. “I think this shows the strength of the constitution, right? You can change presidents every four years, and even if there’s a period of suppression, you can change things pretty quickly.” He argued that the previous US regulatory environment pushed many builders away from practical applications and toward memecoins, leaving the market with fewer strong new crypto products than he would have expected. With a more pro-crypto policy backdrop, he said the industry could start to fill that gap.
AI Agents and Stablecoins Could Drive New Crypto Demand
One of CZ’s strongest points focused on the overlap between crypto and artificial intelligence. He said AI agents are likely to make far more transactions than humans and will naturally prefer crypto rails over slower traditional systems. “AI agents are going to transact 10,000 times more transactions than humans can do,” CZ said. “And AI is going to use crypto. They’re not going to use Swift or Visa cards.” He also said AI could speed up crypto development itself, from app design to wallet security and blockchain performance. While he didn’t claim AI can already replace developers entirely, he said the technology can “assist dramatically in the speed of writing code.”
Stablecoins were another area where CZ said the market exceeded his early expectations. He described them as initially seeming like a temporary bridge for traders seeking fiat-pegged value during volatile periods. Instead, stablecoins have become a key part of crypto market structure. CZ said he personally believes stablecoin issuers should be able to pass yield to users, though he acknowledged regulatory resistance in some markets. He also argued that stablecoin issuers and crypto exchanges should keep one-to-one reserves rather than copying the fractional-reserve model used by banks. “Crypto exchanges, stablecoin issuers should maintain one-to-one peg and it should maintain 100% reserve,” he said. “But there are ways to generate yield even when you do that. And then for those yields we generate, I actually encourage companies to pass that to their users.”
Tokenized Assets and the “Everything Exchange”
CZ also pointed to the rapid growth of tokenized traditional assets on crypto exchanges. He said Binance listed gold about two months ago and has already become “the largest gold trading venue outside of the traditional markets,” with gold making up about 10% of the platform’s futures trading volume. Binance has also listed oil, which he described as part of a broader convergence between traditional finance and crypto venues. The former Binance CEO said he now expects exchanges to compete to become “everything exchanges,” covering crypto, commodities, prediction markets, and potentially other asset classes. He said Coinbase and other platforms are likely to follow similar strategies. “I think everyone wants to be the everything exchange,” CZ said. “BinCoinbase is now trading oil and gold, which I didn’t see happening even a year ago. I think Coinbase will most likely do the same thing, and then other exchanges will follow. At the same time, CZ said the balance between centralized and decentralized exchanges is still unresolved. If crypto adoption grows quickly among less technical users, centralized platforms could benefit first. If self-custody tools become easier and safer, decentralized exchanges might grow faster.
CZ remains optimistic about Bitcoin. When asked about Bitcoin’s market outlook, he said two forces are currently in tension: the historical four-year cycle and a more supportive environment from stocks, institutions, and geopolitical uncertainty. He noted that Bitcoin’s decline into 2026 fits the cycle pattern, but argued that institutional ETF participation could stabilize the market because large investors tend to move slowly and hold for years. “I’m hoping the worst part is over,” CZ said, while adding that his comments were not financial advice.
For markets, the broader message was clear: CZ sees crypto’s next phase as less narrowly focused on native tokens alone. In his view, AI transactions, stablecoin incentives, tokenized assets, and Wall Street’s adoption of blockchain infrastructure could all become key battlegrounds in the next cycle. At press time, the total crypto market cap stood at $—. Featured image created with DALL.E, chart from TradingView.com.
Frequently Asked Questions
Here is a list of FAQs about Binance founder CZs expected big changes for crypto written in a natural clear tone with short direct answers
BeginnerLevel Questions
1 Who is CZ and why should I care about what he says
CZ is the founder and former CEO of Binance the worlds largest crypto exchange When he talks about crypto people listen because his company handles billions of dollars in trades so his predictions often reflect real industry trends
2 What big changes is CZ expecting for crypto
CZ has hinted at major shifts like clearer government regulations wider adoption by big companies and banks and new crypto products that make crypto easier for regular people to use
3 Will these changes make Bitcoin and other coins go up in price
Not automatically Big changeslike new laws or mainstream usecan increase demand which could raise prices But they can also cause shortterm uncertainty CZs point is that the industry itself is evolving not just prices
4 Is CZ still in charge of Binance
No In 2023 CZ stepped down as CEO as part of a settlement with US regulators Hes now focused on other projects but his opinions still carry a lot of weight because of his experience
5 When will these big changes happen
CZ often talks about the next 15 years He expects gradual shiftslike clearer rules in the US and Europerather than overnight transformations
Intermediate Questions
6 What specific regulatory changes does CZ think are coming
He expects more countries to create clear fair rules for crypto exchanges and stablecoins Hes said this will reduce gray areas that make it risky for businesses and investors and will likely include licensing requirements and antifraud measures
7 How could these changes affect regular crypto users
You may see more security simpler tax reporting and easier ways to buysell crypto through banks or apps On the flip side you might need to verify your identity more often
8 What does CZ mean by institutional adoption picking up
He means big investors like pension funds banks