Zhao Changpeng: Banks are continuously falling into a cycle of bankruptcy, and new banks find it difficult to obtain approval to participate in market competition

ChainCatcher news, Zhao Changpeng tweeted: Every ten years or so, a number of banks go bankrupt. We bail them out, and then we fall back into a cycle of bankruptcy, with each collapse costing more. Meanwhile, it is very difficult for new banks to be approved to compete in the market. New banks are also required to operate in exactly the same way as the bankrupt banks. This does not align with the definition of a free market.

Some users suggested that Zhao Changpeng buy an existing bank, to which Zhao Changpeng replied that it would mean having to deal with all the legacy issues. (source link)