Binance founder Changpeng Zhao said in an interview with CNBC that BUSD is not issued by Binance, but issued and maintained by Paxos. In a bear market, exchanges should hold a large number of stablecoins, otherwise it can be seen as a red flag. All cryptocurrencies on Binance are fully backed by reserves, even if all customers withdraw at the same time without affecting the normal operations of Binance. Issuing tokens is the best way to raise funds, but it is full of scams. Instead of banning tokens as a tool, companies that abuse it should be banned. In addition, Binance will announce a completely independent asset reserve audit in a few weeks. Binance has always supported the regulation of the industry, but regulation needs to find a balance, which must encourage innovation while punishing bad actors and protecting users. Changpeng Zhao expressed his firm belief that the market will recover from the crisis and the industry will become healthier.