The Binance Blockchain Week event in Dubai became the center of a high-stakes showdown between traditional and digital innovation, with Bitcoin and gold going head-to-head. Investors, tech enthusiasts, and financial experts watched closely as Binance founder Changpeng Zhao expertly debated renowned Bitcoin critic Peter Schiff, making a compelling argument for why Bitcoin is better than gold. 

Binance Founder Dominates Bitcoin And Gold Debate

During the Binance Blockchain Week in Dubai, Schiff and CZ faced off in a high-profile debate over the value of Bitcoin versus Gold. Schiff defended gold as a safe, stable, and tangible asset while the Binance founder made a compelling case for Bitcoin’s adoption, utility, value, and global reach. 

Throughout the debate, which lasted over an hour, CZ consistently demonstrated the practical advantages of Bitcoin, leaving Schiff’s gold argument largely on the defensive. The Binance founder emphasized Bitcoin’s transparent and predictable supply and its role in the modern financial systems. He pointed to hundreds of millions of users who rely on Bitcoin for payments, savings, and transfers. 

Schiff argued that Bitcoin lacks inherent value and is mainly driven by hype and faith that its price will rise. He stated that gold remains tangible, centuries old, scarce, and valuable in industry, making it superior to BTC. He further asserted that “nobody needs” Bitcoin and that the cryptocurrency is “backed by nothing.”

Practical demonstrations played a key role in the debate between Schiff and CZ. The Binance founder explained how Bitcoin and crypto payments already improve financial efficiency, especially in emerging markets. Schiff questioned whether these transactions truly count as money, since merchants ultimately receive traditional currency. CZ’s response highlighted the importance of adoption and network effects, noting that people who use BTC directly for payments give it real-world significance.

The debate also considered the preferences of younger generations. CZ asked Schiff whether millennials and Gen Z favoured Bitcoin or gold. The Bitcoin critic responded sharply, suggesting that they would choose gold. He pointed out that, with many young investors losing money on BTC, gold offers a safer, more appealing alternative. The Binance founder countered that younger people understand digital value more intuitively and prefer mobile, borderless, and censorship-resistant assets. 

Digital Value And The Future Of Money

The debate between CZ and Schiff also highlighted the changing definition of money. Bitcoin functions as a decentralized network that enables instant settlement and transparent verification. Its adoption has also helped evolve the financial economy, facilitating faster and more seamless cross-border payments. Schiff argued that gold’s scarcity and industrial demand preserve its value and make it a reliable hedge against economic uncertainty. 

Tokenization also became a point of agreement during the discussion, with Schiff emphasizing that gold can be digitized and tokenized for easier ownership and distribution without moving the physical metal. CZ contended that Bitcoin offers similar advantages while also enabling global financial inclusion. They also discussed the supply of both assets, with the Binance founder noting that Bitcoin has a visible supply, while gold doesn’t. 

They also talked about the performance of both assets over the years. Schiff argued that gold had outperformed BTC over the past four years. CZ contended that Bitcoin has far outpaced gold over the last 8 years, and since its launch in 2009, it has skyrocketed from a few cents to an ATH above $126,000. He concluded his debate, predicting that Bitcoin’s growth will outpace gold over time.

Changpeng Zhao (CZ), founder of the world’s largest cryptocurrency exchange Binance, announced plans to help make America a global crypto hub. CZ shared his thoughts on the United States market during a private press conference at Binance Blockchain Week, which took place at the Coca Cola Arena in Dubai Dec. 3-4.

When asked by a member of the media about his involvement in the US following President Trump’s pardon, CZ explained that he is “very appreciative of the pardon from Trump,” noting that this allows Binance to conduct business more “freely” in every part of the world – America included.

“It’s my full intention to help make America the capital of crypto,” CZ stated. “Also, America is an emerging land for Binance. For the last few years we have been dealing with the Biden administration so much that we have tried to withdraw from the US as much as possible. We didn’t invest in the US and we tried to pull out. But now I fully intend to help crypto businesses in the US.”

The United States Becomes Strategic Market For Binance

CZ added that Binance US – which was launched in September 2019 to legally service US residents – still exists, yet it remains a small business.

He explained that in 2023 the SEC sued Binance US, causing the business to lose all banking access and a few state licenses. However, CZ now views the US as “a very important market” and a leading region in terms of tech talent. However, he believes that leaders in the blockchain industry still reside outside of the United States.

“Large businesses like Binance and a few other large players are not technically in the US, so I do want to help bring many of those businesses back into the region,” he said “Also, many institutional investors do not have access or exposure to BNB, so we want to help with that.”

CZ Says US Has Clear Crypto Regulations

Cryptonews further asked CZ about challenges holding back crypto adoption globally and how Binance aims to combat this moving forward.

CZ mentioned that first and foremost regulatory frameworks have to become clarified in many parts of the world. To enable this, he explained his involvement with more than a dozen different countries on ways to develop and implement regulations.

CZ added that currently only a handful of countries have clear regulations around digital assets, yet pointed out that the US is leading the way.

“Now the US is leading – which is good, but the US is only just starting. Trump has only been in power for a year,” he stated.

CZ further remarked that progress has been made with the recent passing of the GENIUS Act, which establishes clear rules around stablecoins. He added that the CLARITY Act, which aims to define digital assets, remains a work in progress.

“Also the first draft of regulations will not be perfect – it takes time to evolve. After this, the banks will need to work closely with crypto businesses. We need to integrate with existing financial systems to enable mainstream adoption, as that’s the best way for growth,” CZ remarked.

CZ Speaks Out About Prison Time

In addition to sharing his thoughts on the importance of the US market for crypto expansion, CZ described his time in prison. The executive was sentenced to four months in a US prison in April 2024 after pleading guilty to violating US money laundering laws.

“I went through a lot of challenges – I went to jail, etc. but I know that no one got hurt,” CZ stated. “There was no fraud, there were no users that got hurt because of my actions, so when I sleep at night I sleep very well because I know I am helping a lot of people.”

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Cryptocurrency is no longer just for adults. While traditional financial assets like stocks and bonds are often gifted to children by parents who open custodial accounts, crypto exchange Binance aims to help families build wealth through crypto assets.

Announced on Wednesday during Binance Blockchain Week, the crypto exchange explained that “Binance Junior” is the first standalone mobile app that is controlled entirely by parents for children.

The app allows adults with a Binance account to deposit crypto into a savings account for kids and teenagers between the ages of 6 to 17. The tool also allows parents to set spending and transfer limits, while enabling earn products for kids dependent on local regulations.

The Importance of Crypto Adoption at Young Ages

Binance’s newly appointed co-founder Yi He explained the importance behind Binance Junior at Binance Blockchain Week.

“We not only nurture children in their early development, but also with long-term growth, responsibility and wisdom,” the executive stated. “Helping children face real life challenges independently means that financial health and literacy are key to preparing them for the future, especially as money is evolving.”

While the notion of educating children on the importance of cryptocurrency may be controversial, findings from a recent survey conducted by Gemini show that more than half (51%) of global Gen Z respondents currently own cryptocurrency or have owned it in the past. The report also notes that over half of Gen Z respondents located in the US owned or had owned cryptocurrency (51%), compared to 49% of Millennials (people born 1981-1994).

This demonstrates the growing appeal for crypto adoption amongst younger generations. Binance Junior aims to further facilitate this by allowing children 13 years and up to initiate transfers independently within the app, as long as local regulations are met and daily limits are applied.

Teaching Children About Crypto: Beneficial or Concerning?

While some users on the social media platform X expressed concerns around Binance Junior, the new app aims to align with a growing trend of teaching children about the importance of cryptocurrency at early ages.

Henri Arslanian, co-founder of Nine Blocks Capital and a best-selling author, told Cryptonews that it shouldn’t come as a surprise that Binance has launched Binance Junior.

“Children used to have penny banks to keep fiat in, but now we have hard assets like Bitcoin and there is a huge learning element there that becomes critical,” he said.

Arslanian added that Binance Junior aligns with children’s books and toys centered around cryptocurrency. In September last year, Arslanian published Decoding Crypto, a best-selling children’s book that explains digital assets in simple terms.

Other books including B is for Bitcoin by Graeme Moore – which is an A-to-Z style alphabet book where each letter links to a crypto term – also aim to make crypto learning fun for children. Goodnight Crypto by Scott Blair is a book that is even suitable for toddlers. Included in the story are 42 collectible non-fungible tokens (NFTs) that can be minted and added to a crypto wallet.

In addition, Binance released a self-published book entitled ABC’s of Crypto that breaks down fundamental terms including security and blockchain technology, to different types of crypto coins.

Cautiously Preparing the Next Generation for Crypto Adoption

While it’s notable that initiatives are being taken to teach young children about digital assets, caution should be exercised.

Parents and teachers explaining cryptocurrency to younger generations may wish to point out the volatile nature of digital assets. Focusing on concepts like savings, diversification, long-term thinking, and risk versus reward rather than price speculation may also be helpful.

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