https://techcrunch.com/2022/11/17/binance-chief-says-crypto-exchange-doesnt-currently-see-a-viable-business-in-india/

Scores of crypto-focused venture capital firms have raced to India in the past two years, hoping to turn the world’s second largest internet market’s large developer community into a key web3 power house. But what does Changpeng “CZ” Zhao, arguably the most powerful and influential figure in the crypto industry, think about the potential of India? Not much, as of today.

“To be honest, I don’t think India is a very crypto-friendly environment,” said Zhao at TechCrunch Crypto conference Thursday. Zhao is not alone with such grim view about the Indian market. Dozens of investors and startup entrepreneurs I have spoken to have privately shared similar concerns, but Zhao’s comment is remarkable because nobody else with such stature has publicly expressed such view.