CZ: Lack of Competition in the US Domestic Crypto Market, High Trading Platform Fees

**Binance’s CZ: Crypto Entrepreneurs Returning to U.S., Policy More Positive Than Expected** On March 18, Binance founder Changpeng Zhao (CZ) told the DC Blockchain Summit that crypto entrepreneurs who previously operated offshore are now returning to the U.S.—citing the country’s strong innovation ecosystem, venture capital, Silicon Valley talent, Wall Street financial infrastructure, and funding advantages. He noted U.S. crypto policy is currently far more positive than he anticipated: “I didn’t expect the U.S. to become so crypto-friendly in 2-3 years.” Stressing the U.S. is rooted in free-market capitalism, CZ added competition is the best consumer protection (a view shared by some influential U.S. figures). From a trading platform operator’s perspective, he pointed out U.S. crypto exchanges charge excessively high fees, leaving American consumers with worse prices than international markets. This explains why the U.S. lacks the main crypto liquidity pool—unlike traditional markets (stocks, futures) where the U.S. holds the largest liquidity. Unlike other industries (e.g., Amazon, which offers the best U.S. prices), crypto fails to deliver top global prices to U.S. consumers. But with clear policy and well-funded U.S. institutions, the U.S. can become the world’s largest crypto liquidity pool sooner or later—though it currently lacks sufficient market competition. *Additional context*: BlockBeats previously reported CZ told Bloomberg at the World Liberty Financial Forum that Binance aims to expand U.S. business, bringing high-quality products and easier access for American consumers.