Arthur Hayes, the founder of crypto exchange network BitMEX, has released a statement expressing his views on the unfair treatment of Changpeng Zhao (CZ), co-founder and former CEO of Binance, by US authorities.
Hayes criticized this treatment as absurd and inconsistent, pointing out that it only highlights the arbitrary nature of the punishment.
BitMEX Founder Slams CZ Treatment
In his statementthe BitMEX founder begins with a playful reference to a Bible verse, followed by a simple statement: “Changpeng Zhao (CZ), the former CEO of Binance, is a sinner, but not for the reason you might think. wait, given recent events. »
Hayes then tells the story of CZ, a Canadian of Chinese descent, who quickly rose to billionaire status by providing crypto trading services through the popular Binance exchange.
Hayes points out that the exchange was widely seen as a symbol of financial freedom and an effective means of speculating on a new political, economic, and traditional system.
However, as Hayes points out, the problem is that these platforms driving the financial revolution are not backed by political or financial institutions but are run by ordinary individuals.
Additionally, Hayes claims that these individuals are enabling others to own a stake in the industrial revolution in 10 minutes, using either mobile trading apps or desktop platforms – an unprecedented phenomenon.
Highlighting the harsh treatment suffered by CZ and Binance, Hayes draws attention to the substantial $4.3 billion fine imposed on the exchange, making it the largest corporate sanction in the history of the Pax Americana.
Hayes observes that the treatment of this financial giant differs significantly from the consequences that traditional institutions such as Goldman Sachs and HSBC face following scandals.
Those who oversee such large platforms often exploit state and legal mechanisms to diminish the influence of the institutions governing the “Pax Americana global financial and political system.”
Testament to the Transformative Power of Blockchain
BitMEX founder says recent unfair treatment highlights the transformative potential of the blockchain ecosystem.
He points out that the blockchain space draws parallels with the financial, political and economic systems. Through voluntary legal participation rather than coercive measures, this new system has the potential to allow individuals to amass substantial wealth within a decade.
Hayes points out that the treatment by CZ and Binance should serve as compelling evidence of the need for long-term investing in Bitcoin and other cryptocurrencies. Given the current fluctuations, Hayes urges cryptocurrency holders to store their assets in self-controlled wallets, ensuring their financial independence.
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