I think CZ is right with his perspective that the cryptocurrency industry is now entering a new phase where compliance and the role of the government are taking the centerstage. In other words, there is now nothing we can do that the government will not be involved somehow, someway. and this should be the time for the industry to think hard as the government will not go away no matter what we do...they are here to stay so there is no choice but to comply and even partner with the government so that platforms can continue doing business and never be prosecuted and like CZ meted a prison time sentence. Anyway, I am still happy that CZ got only 4 months which is significantly lower than what the government prosecutors were asking the court. Four months can easily fly and soon he will be out with all the lessons learned...and enjoy a comfortable life somewhere with his loved ones as he is surely a very rich man.
Former Binance CEO CZ: I Will Do My Time — Crypto Industry Has Entered a New Phase
Former Binance CEO Changpeng Zhao (CZ) has expressed his gratitude to the crypto community for their support following his four-month U.S. prison sentence for pleading guilty to money laundering charges... See more for yourself here (https://news.bitcoin.com/former-binance-ceo-cz-i-will-do-my-time-crypto-industry-has-entered-a-new-phase/).
Your opinion is greatly appreciated.
Tough news, but at least it's only 4 months. Apparently, even the judge was impressed by all the support CZ got in court. The guy built this whole thing from scratch, still runs it...he's really taking one for the team with Binance.
.. he stated that Crypto is entering a new phase I believe he is too entering a new phase in his new role when he comes out in his vacationThe new phase means that they have been used as examples by the government, so the next phase will be a phase were CEO's or exchanges and other crypto related platforms will be more aware that there will always be a chance of government scrutiny, and so will always try to do things rightly to avoid being used as examples. The next phase, we will have wiser investors and wiser CEO's.
CZ is a strong dude, the way he is accepting his mistakes and showing the positive side of the story, I admire it. Because in such a situation, a person who has lots of funds and is rich (basically) it's hard for such persons to make such statements. He still believes in crypto, (although it's his empire) and he looks forward to how he can do his time and get back into the game after 36 months. As in my OP, 36 months is not a big deal for CZ as he is strong.I'm quite dumbfounded at how you guys are still praising him. Are you a Binance user? CZ most likely sold you (and thousands of users) out already in exchange for his light sentence. He's not strong but wise enough to bend to authorities because there was a strong evidence against him. He's obviously happy that he got only 4 months that's why he can speak positively about his situation.
I'm quite dumbfounded at how you guys are still praising him. Are you a Binance user? CZ most likely sold you (and thousands of users) out already in exchange for his light sentence. He's not strong but wise enough to bend to authorities because there was a strong evidence against him. He's obviously happy that he got only 4 months that's why he can speak positively about his situation.
I'm quite dumbfounded at how you guys are still praising him. Are you a Binance user? CZ most likely sold you (and thousands of users) out already in exchange for his light sentence. He's not strong but wise enough to bend to authorities because there was a strong evidence against him. He's obviously happy that he got only 4 months that's why he can speak positively about his situation.I didn't mean to praise him but admire (same thing😁) the words he is using while in such a situation. I don't know the reason you saying he sold us out. It would be great if you could shed some light on it. As I do use Binance, not a fan but a user, I don't judge people by a few words of them, actually, I have seen how Binance has dealt with SEC and other authorities. And how the SEC has made them leave the US region. I mean in my POV they manipulated things so that Binance would comply with them fully which is not beneficial for them and now SEC is going after every other CEX.