ChainCatcher news: According to Bitcoin.com, Ki Young Ju, CEO of blockchain analysis company Cryptoquant, shared his predictions for the crypto market on social media platform X on Friday. Ki Young Ju believes that the return of Binance founder and former CEO Changpeng Zhao after serving his sentence will have a ripple effect on the cryptocurrency market. Before Zhao Changpeng was released from U.S. custody on Friday local time, he wrote: "Changpeng Zhao (CZ) was released from prison early today-there is a bullish atmosphere everywhere. I don't know why, but I feel this way too. He only needs to post a post saying 'I'm back' and the market will soar."
In another X post, Ki Young Ju discussed CZ’s influence in the cryptocurrency space, highlighting that “prominent figures like CZ often become scapegoats when the industry fails to meet expectations.” He commented that “society always blames the most influential figures,” while acknowledging that the industry’s woes are caused by a variety of factors. He further noted that despite the huge amount of capital absorbed by the crypto market, its intrinsic value has not increased accordingly, attributing this disconnect largely to challenges such as crime and industry immaturity.
Earlier news came out that Changpeng Zhao (CZ), the former leader and co-founder of Binance, had been released two days earlier than originally planned.