“The truth is, SQUID won’t be the first or last DeFi scam,” Binance CEO and co-founder Changpeng Zhao – known more widely as CZ – said in a blog Thursday.
CZ urged people to arm themselves with knowledge about crypto. He noted that over the past year, more first-time investors than ever had entered the market.
“We’re entering a period of peak speculation-people are looking for the next get-rich-quick scheme, or 100X opportunity. The truth is, those 100X don’t come along often. And when they do, they usually come with a ton of risk, sometimes so much so that the lines get blurred between investing and gambling,” CZ said.
