Binance representative: We would like the ICO bubble to burst

Ella Zhang, the head of Binance Labs, said in an interview that, for the industry of crypto currency it would be nice "if the ICO bubble to burst."

According to Zhang, the collapse of the ICO will mark the emergence of truly significant projects. Now the market is held by the arrival of new participants. The time of the collapse of the ICO specialist has not clarified. At the moment, there is an agiotage in the industry, where prices are unreasonably high.

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Also Zhang spoke about scam projects, which the stock exchange has to fight against the background of the popularity of ICO. To this end, Binance has developed a special program CGI, within which will be assisted crypto team, cooperating with the exchange.

Also, Binance Labs intends in the coming years to finance various projects worth $ 1 billion. Each startup will have to join the CGI program to receive investment (from 1 to 10 million dollars). Today, four projects have received financial assistance.

Earlier, the crypto-exchange Binance announced the launch of the fund, the funds of which will be used to develop promising crypto and block projects. Zhang said that the fund's money belongs to the stock exchange itself.