In recent days, I've seen many people FUD Binance and CZ. After taking a look, the sources generally come from the following types:
1️⃣ DEX high-leverage contract traders
2️⃣ Supporters of other public chains like Solana and Base
3️⃣ Fund managers who have suffered significant losses in the crypto market
……
The main body of FUD is primarily Western forces, all focused around the topic of 1011, a matter that has almost passed 4 months. Now, bringing up systemic risks is truly lacking substance to diss.
As a giant that has crossed into traditional finance, Binance undoubtedly touches the interests of many parties. The interests entangled here may be more complex than we see.
➤ CZ mentioned at the Davos Forum that in the future, there won't be as many physical banks, which might have offended the banking powers. The last person to say they wanted to eliminate banks was Jack Ma’s Alipay Ant Financial, which is now a state-owned enterprise. 🤣
➤ Last week, there were supporters of Solana stating that BSC is stealing Solana's liquidity and has planned a hacker attack on Four meme.
➤ ARK Invest founder Cathie Wood also cleverly attributed part of the BTC pullback to Binance's "10.10 incident."
ARK has been heavily investing since Coinbase went public in April 2021 (the peak COIN price was about $429), but during the 2022 bear market, COIN plummeted to a low of $31, and ARK's flagship fund ARKK dropped over 70% from its peak in 2021.
In short, Cathie Wood has led investors to lose their shirts. In contrast, $BNB once surged to $1200 last year. If ARK had invested in BNB at that time, it would be a different story.
It is said that Cathie Wood is still bottom-fishing COIN stocks, as position determines mindset.
➤ Now, Binance is closely collaborating with Trump’s #USD1, and with Trump previously pardoning CZ, the political angle is also getting closer to Trump. Therefore, this wave may also be driven by opposing political forces.
It can be said that the voice of Chinese people in the crypto space is largely given by Binance. If Binance collapses, the status of Chinese people will drop several levels, and everyone will have to continue to follow the American market.
At least we still have our frontline customer service Xiao He, and the big brother who loves to build. If it were Coinbase, you wouldn’t even be able to contact email support.
The path of reform is full of thorns, and we can only: block out the noise and continue building!
