Binance’s Changpeng Zhao Addresses The Global Food Prices Rise of 34% In March Amidst Crypto Mass Adoption | CryptoGazette

Binance’s Changpeng Zhao is addressing the rise in global food prices that took place in March. The figure is worrisome and it’s the fastest-growing rate that we’ve seen in 14 years.

Check out his tweet below.

Global food prices rise 34% in March…, rising by the fastest rate in 14 years.

published by the UN Food and Agricultural Organisation,

— CZ 🔶 Binance (@cz_binance) April 8, 2022

Someone noted the following details in the comments section: “Crazy and quite worrisome. Wheat futures have been up since March already.”

Wheat futures are up 40%, the biggest weekly rise in decades. Russia and Ukraine account for ~30% of the global wheat exports.

The risk of this leading to food shortages (esp. in Africa), food price spikes, and general inflation is real if the war continues. #Ucrainarussia pic.twitter.com/vFjNcQzTVW

— Patrick Hansen (@paddi_hansen) March 8, 2022

They also noted that the CPI is heavily affected by food prices. “And global food prices rose already ~28% in 2021, according to the Food and Agriculture Organization of the UN.”

It’s also important to note the fact that the commodity prices like wheat are contracted months in advance and countries usually keep stock of supplies for 3-5 months.

Crypto mass adoption intensifies amidst world crisis

The world crisis in the middle of which we are has triggered a wave of massive crypto adoption.

The mass adoption of digital assets has been one of the most important goals that the crypto industry has set. There are more moves that have been made in this direction and they continue. Check out the latest reports.

Crypto hedge fund veteran Su Zhu thinks widespread adoption of cryptos is inevitable. This is happening as the macro events accelerate use-case scenarios for blockchain technologies.

In a new episode of the Uncommon Core podcast, the CEO and CIO of cryptocurrency hedge fund Three Arrows Capital said that one consequence of the US-led sanctions against Russia for invading Ukraine could be the fact that some nations don’t go along with the prevailing trends.