Binance CZ: Eating Our Own Dog Food & Storing Crypto on Binance

Changpeng Zhao, or CZ as he\'s widely known, is the Chief Executive Officer of Binance. And like any good leader, CZ believes in using his company\'s products. The phrase "Binance eat your own dog food" is a concept CZ firmly embraces. This colloquial expression describes a company using its own products or services for its internal operations. In CZ\'s case, it means using Binance for storing his crypto.

CZ has stated, "I eat our own dog food and store my crypto on Binance.com. I also need to convert crypto from time-to-time to pay for my personal expenses or for the Card.“ This demonstrates his confidence in the Binance platform and security.

What Does \'Eating Our Own Dog Food\' Mean in the Crypto World?

The idea is simple: If a company trusts its product enough to use it internally, customers are more likely to trust it too. This practice helps identify bugs, improve user experience, and build confidence in the product\'s reliability. For Binance, this means CZ experiencing firsthand the same trading and storage experience as regular Binance users.

Recently, Binance has faced scrutiny. Binance accuses the CFTC of mischaracterizing the facts. CZ has officially responded to the latest allegations, reaffirming his commitment to transparency and user security. While these issues are being addressed, CZ\'s continued use of Binance highlights his belief in the platform\'s fundamental strengths.

Is Eating Dog Food... Dog Food? (And Other Misconceptions)

Let\'s be clear, when CZ says "eating our own dog food," he\'s speaking metaphorically. It’s not about actually consuming dog food. It\'s a common business idiom! Someone may joke that US\'s Dog food is regulated by the FDA to be safe for human consumption, but eating dog food to prove a point is absurd, similar to the inappropriate example of Obama drinking water from Flint. The focus should remain on the principle of using and trusting your own products.

So, when you hear about "Binance CZ i eat our own dog food store crypto on Binance," remember it’s a statement about product confidence and internal validation. CZ\'s actions speak volumes about his belief in the Binance ecosystem.