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Key TakeawaysCrypto payments adoption remains limited after a decade of developmentMeme coins are highly speculative assets, most lack longevityGlobal crypto regulation remains fragmented, regulatory passporting can be a near-term solution CZ at Davos 2026 on Crypto Payments, Meme Coins, and RegulationBinance co-founder and former CEO Changpeng Zhao (CZ) addressed crypto payments, meme coins, and regulation at the 2026 World Economic Forum in Davos, highlighting structural challenges across the global financial system and crypto market. His remarks focused on adoption gaps in crypto payments, speculative risks of meme coins, and why unified global regulation on crypto remains unlikely in the near term. Adoption of Crypto Payments Falls Short of ExpectationsCZ said crypto payments adoption has not met early expectations, despite more than a decade of development. He noted that Bitcoin and crypto payments are still not mainstream.CZ compared crypto payments to other breakthrough technologies, where most experiments fail but a few successes drive exponential impact. Most Memes Won’t Go Very Far, Only Those With Cultural Value Can Exist Long-TermWhen discussing meme coins, CZ said they remain among the highest-risk segments of the crypto market. He noted that most meme coins lack practical utility and rely heavily on market sentiment and speculation, making them difficult to sustain over time.While a small number of meme coins, such as Dogecoin, have survived for more than a decade, CZ said that most memes won’t go very far, and that only those with cultural value can exist long-term. He compared this dynamic to the NFT market, adding that without fundamental support, speculative hype tends to fade quickly. Crypto Exchanges vs. Traditional Banks Addressing concerns around AI-driven bank runs, CZ argued that technology itself does not introduce risk. Rather, technology only accelerates the exposure of existing structural problems. If a bank has a liquidity mismatch, faster withdrawals only reveal the issue sooner. Slowing withdrawals, he said, merely delays access to funds without fixing the underlying problem.CZ cited Binance as an example. The exchange experienced $14 billion in net outflows in one week. Peak daily withdrawals reached $7 billion, with no liquidity disruption.He contrasted this with traditional banks, noting that few could withstand similar pressures, due to their system of fractional reserves being a structural weakness. He noted that this structural issue, rather than withdrawal speeds or AI, is a more pertinent risk to traditional banking. Global Crypto Regulation Remains FragmentedCZ said global crypto regulation remains inconsistent, with each country following different frameworks or none at all. While banking regulations are largely harmonized, crypto rules vary widely.Binance currently holds 22–23 international licenses, yet most countries still lack comprehensive crypto laws. Key legislation, including the U.S. market structure bill, remains under development. Regulatory Passporting May Come Before Global OversightCZ said a single global crypto regulator is unlikely in the short term due to differences in tax systems, capital controls, and policy priorities. He currently advises multiple governments on crypto policy design.Instead, he highlighted regulatory passporting as a more practical first step. Under this model, a license in one jurisdiction could gain recognition elsewhere, enabling faster cross-border compliance without new global institutions. CZ’s Davos remarks reinforced a cautious but structural view of crypto’s evolution, emphasizing risk awareness, regulatory realism, and the limits of technology-driven solutions in fixing financial design flaws.