Chang Peng ZhaoThe CEO of the world’s leading digital asset platform Binance has announced that the company may spend more than $1 billion on investments by the end of 2022.

Zhao aka ‘CZ’ made this revelation in an interview with Blomberg and reclaimed that Binance could spend over $1 billion on investments and asset purchases, despite what appears to be a volatile crypto market.

Recall that Binance has also invested $325 million in 67 additional projects in recent times. Meanwhile, Binance’s VC division has made various investments in Aptos, the firm started by former Meta employees.

While crypto firm CEO Sam Bankman-Fried has embarked on buying assets from prominent distressed lenders, Zhao responded to a question about buying crypto lenders by saying that;

“A lot of them just take money from one user and give it to someone else. There is not much intrinsic value. In that case, what should be purchased? We want to see real products that people use.”

Binance focuses on DeFi and NFT protocols

Binance is focused on addressing persistent issues in the market such as regulatory tightening and software attacks. Remember that online launderers used Binance Coin from the exchange to steal the equivalent of $568 million earlier this week.

The CEO of the firm claims that Binance has been investing heavily in NFTs, fan tokens, and traditional payment service providers. While he claims that Binance has remained economically viable despite the fact that the prices of most digital assets are down more than 50% this year.

Again, Zhao added that Binance could venture into acquiring minority stakes in traditional e-commerce and gaming companies. Furthermore, Binance has an additional fund of $7 billion specifically to invest in businessesand has a team of more than 30 members focused on mergers and acquisitions and led by its co-founder, Yi He.

The CEO reiterated that as a result of the bear market, the company will continue to look for other investment opportunities while being mindful of the risk and pain involved.

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