Changpeng Zhao, commonly known as CZ, co-founder and former CEO of Binance, has emphasized the significance of cryptocurrency in the emerging AI-driven economy. He urged support for those building within this space. Zhao made these remarks on X on February 24.
“Crypto is the currency for AI,” said Zhao. “Data is the food for AI. Let’s support the builders. Web2 companies should not be the owners of your data. You are.”
The post on X highlighted a strategic investment announcement from Vana by YZi Labs and welcomed Zhao as an advisor to further develop their Data Layer for AI and expand their DataDAO ecosystem. This collaboration seeks to enhance decentralized data solutions for AI applications.
According to Gemini, AI-driven applications are increasingly leveraging blockchain technology for various purposes such as payments, smart contracts, and decentralized computing. These platforms use AI to analyze market data and assess risk while ensuring secure transactions through blockchain, thereby enhancing financial service efficiency.
Gate.io reports that major Web2 companies like Google and Meta often monetize user data without explicit consent, raising privacy concerns. In contrast, Web3 proponents advocate for decentralized data ownership, allowing users greater control over their digital assets and personal information, which enhances privacy and security.
Zhao is recognized as the founder and former CEO of Binance, the largest cryptocurrency exchange by trading volume. Born in China and raised in Canada, he previously worked at the Tokyo Stock Exchange and Bloomberg Tradebook before entering the crypto industry. In 2017, he launched Binance, expanding it into a global platform offering trading services, blockchain development, and Web3 infrastructure. He has also supported initiatives like BNB Smart Chain and various philanthropic projects.
According to Binance’s about page, the company is a leading blockchain ecosystem with a comprehensive product suite that includes the largest digital asset exchange globally. Founded in 2017 by Changpeng Zhao and Yi He, Binance provides services ranging from cryptocurrency trading to decentralized finance solutions and blockchain education initiatives for millions worldwide.
