[A brief discussion on Binance being fined and CZ resigning]
▋It’s been a year, and there are some stories that are no secret
After CZ exposed SBF’s lies last year,
Even logically speaking, SBF should bear 100% responsibility (misappropriation of user funds),
But reality is not composed of rationality after all, especially when one's own interests are involved.
Therefore, it is reasonable for many people to hate CZ.
The collapse of FTX is said to have angered a group of vested interests around the world:
Wall Street.
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▋Bank groups are also cryptocurrency holders
In order to avoid getting into trouble with the SEC, these banking conglomerates
So I will first find some Bitcoin OG whales, sign a private contract, and then hold them through the whale's wallet.
For the part of buying coins, find an overseas company to handle it, so that the cash flow will not be related to your own bank.
Then, most of the money was put into FTX and earned 8% interest. Everyone knows the subsequent story.
Therefore, the banking group, one of the most affected institutions, has been rumored to have CZ pay the price since last year.
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▋It’s politics, not money laundering
Maybe it's because there have been news coming from Bank of America,
So when you see CZ being sanctioned by the United States, you will automatically look at it from a political perspective.
Rather than the issues related to "confession and money laundering" that most news talks about.
A very simple logic: If Binance is guilty today, the 4 billion fine imposed by the court should be given to the victims as compensation;
But being convicted in the name of violating money laundering laws, the fine ends up in the pockets of the U.S. government?
In a society ruled by law, there is no suspense about political intentions.
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▋One party is illegal and the other is legal
In the Western United States, Binance and CZ are criminals violating money laundering laws;
In Dubai in the Middle East, Binance and CZ are legal unicorns that have obtained MVP operating licenses.
Whose law, whose sin? It is no longer a black and white line,
It is about competition for interests and political revenge.
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▋Centralization vs. decentralization?
Bitcoin was born out of the financial tsunami caused by Wall Street in the United States.
Now the United States is sanctioning the world’s largest cryptocurrency exchange.
This is why people in the currency circle believe in "decentralization"
——Vested interests in centralized countries really think they can control the world of cryptocurrency?
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▋After darkness, there is light
The situation in which CZ was punished this time also reminded me of an anime "Lelouch of the Rebellion":
The protagonist spent several years to realize his revenge plan, but in the end he deliberately made himself a public enemy and left with everyone's hatred.
The same goes for CZ’s words and deeds in the currency circle:
The big tree attracts the wind and has attracted the hatred of many people. Now it has been removed from the stage through this case.
On the surface, he is stepping down sadly, and Binance will lose its glory.
But in fact, it allows the enemies of Binance (actually CZ) to get what they want.
Making these people feel like they have completed a milestone in their revenge plan will reduce (or even eliminate) actions against Binance in the future.
(The biggest enemy CZ has stepped down. It is impossible to bring down Binance. Cryptocurrencies will still be needed in the future)
Dark Art of War: The young master sacrifices his head.
After darkness, comes light.
An explosive company needs a heroic leader to lead the team to conquer the world.
A sustainable enterprise needs to be able to govern the world even if the heroic leader is absent.
If you understand, you will understand (laughs).
