Changpeng Zhao (CZ) will be released on parole on 9/29. Has the community prepared to celebrate?
Former Binance CEO Changpeng Zhao (CZ) is set to be released on September 29 after serving his sentence. Ki Young Ju, CEO of CryptoQuant, posted on X platform, saying: "Don't underestimate CZ, he deserves respect!" Is the community ready to start celebrating?
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CryptoQuant CEO Ki Young Ju posted on the X platform:
Don't underestimate CZ, he deserves respect! When the intrinsic value of an industry is lower than the capital it absorbs, society often views this as a "sin". In such cases, those who create and participate in the industry are often labeled as sinners. The most influential figures in society are scapegoated and held responsible for the industry's failure to develop properly.
Although many have committed wrongdoings, only a few have atoned for the industry's "sins". From the perspective of established society, the crypto industry carries many "sins". It has absorbed a large amount of capital, but its intrinsic value has not grown correspondingly. Like other young and immature industries, crime is rampant - this is one of the troubles in its growth process.
On September 29, Binance co-founder and former CEO CZ Zhao Changpeng was released after being detained for four months. Although he did make mistakes, his detention also symbolizes the pains of the industry's growth. CZ is a respected businessman. Without Binance, the crypto industry would not have attracted huge global liquidity. It is crucial to clearly differentiate between his strengths and weaknesses. In my view, CZ's achievements far outweigh his mistakes. He has paid fines, and his detention is coming to an end. The industry should start looking at him with fresh eyes.
Although BlockTower Capital founder Ari Paul holds a different opinion, believing that CZ's crimes are similar to SBF's. However, CZ's willingness to take responsibility does give him a chance for rebirth. Previously, CZ founded Giggle Academy, offering free online courses for children, and expressed his hope to fund small research labs and utilize blockchain technology to provide medical services to billions of people globally, improving the quality of life for education and disadvantaged youth.
BNB rebounded from a low of $202 even before CZ and Binance settled with the U.S. government, reaching a historical high of $721 after CZ's imprisonment, indicating that the BNB price is not closely linked to CZ.
Although CZ can no longer be involved in Binance's affairs, he remains a spiritual leader in many people's hearts. After his release, CZ may have more interactions with the community, and his every move is believed to attract attention and discussion!
