The wild era of the crypto era has ended, ushering in a new watershed.

The case of CZ was settled in the early morning of May 1st. We can easily see the human side of the judge from the details, and the sincere words of the 161 letter writers, showing the brilliance of humanity! CZ also showed his responsibility and great courage and frankness. He did make mistakes while developing rapidly in the past and accepted the punishment. Of course, he also paid a huge price in terms of money and short-lived freedom. CZ, who is excellent in both character and learning, probably didn't expect that he would suffer this disaster because of starting a business, which is also a great challenge for him.

In the past, some people thought that the collapse of FTX caused Wall Street to be very resentful of Binance, or that white people had opinions about Asians and other ethnic groups, but from this case, the judge showed his humanity and fairness. The most important thing is that he has always been committed to protecting users, which is beyond doubt, and the judge and jury can see it.

First, this case fully demonstrates the United States' leadership in the financial industry, the flexibility of its financial legal system, and its supervision and development of innovation. The two are handled very well, instead of just persuading you to leave or turning a blind eye when it fails to manage well!

After this disaster, Binance has opened the door to compliance, while other exchanges will still tremble and struggle to continue on the road to compliance! It is a deterrent to illegal money laundering, anti-terrorism, and even hacker organizations!

Second, it will deal a huge blow to illegal money laundering, or other illegal transactions, or even hacking, money laundering mixers, privacy coins and other tracks, and even have a great impact on secret organizations! In the past, the hacked money still had to be exchanged for US dollars in the exchange, right? Which exchange should he go to now? The exchanges that have not been hit are trembling, and all the people who hide behind the industry and do not do a good job of transparent management are trembling!

Third, for users, there is no privacy under strong supervision. However, as long as you do not have any illegal transactions and your deposits and withdrawals are compliant, it is very safe. But if you have any bad records, you may become the target of supervision and control!

Fourth, as we all know, when BTC was first created, in addition to attracting a lot of technical geeks, there were too many Cx and gray industry people in the early days, so the industry was full of desire, confusion and Ponzi schemes, too many users were victimized, and the development of new technologies and industries sacrificed many people.

Fortunately, more industry builders have taken up their responsibilities! The Web3 industry is still blacklisted, but it will continue to move in a positive direction. Salute to the hard-working practitioners!

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