Binance Exec Drops Bombshell On CZ’s Billion-Dollar Blunder

As Binance’s former CEO CZ awaits his fate on April 30, co-founder He Yi echoed Binance’s co-founder He Yi, saying his major mistake was ignorance.As a startup with no special background, the founding team was missing There was no legal expertise, and even most members of the early management team, with the exception of CZ, struggled with English. Binance and CZ are both facing significant consequences.

Binance co-founder He Yi said CZ’s biggest mistake was ignorance. As a startup with no flashy background, the founding team members had no legal background, and even most members of the early management team, with the exception of CZ, couldn’t even read English. Both Binance and CZ paid a heavy price.

While awaiting sentencing, Mr. Zhao recently wrote a letter of apology to the judge, acknowledging the “inappropriate decision” and pledging to take responsibility. But it will take more than words to win back the trust of the massive cryptocurrency community, which Zhao estimates has 559 billion members.

The Justice Department is now seeking a lengthy sentence of 36 months, double the 18 months originally agreed to. As reported by Tron Weekly, the Department of Justice has expressed concern about Binance’s widespread violations and compliance with regulations in court filings. This stricter approach has created further problems for companies like Binance and sparked debate over how to navigate the murky waters of crypto regulation.

Binance: legal boundaries and bias

Overall, the case reflects a troubling pattern in which U.S. regulators appear to be particularly biased against non-U.S. crypto companies. Critics say this could be an attempt by U.S. authorities to maintain control over the global financial system, which has traditionally been dominated by Western countries. This theory is further supported by the recent lawsuit against Justin Sun, the Chinese entrepreneur behind TRON. Sun has been charged by the SEC with violations including offering unregistered securities.

Such actions against non-Americans like Mr. Zhao and Mr. Son raise the possibility of double standards in regulatory enforcement, with foreign crypto leaders facing greater scrutiny and stiffer penalties than their US counterparts. raising questions about. This means that these legal challenges are not just about enforcing regulations; they are also strategic moves to curb competition from outside the United States and keep centers of financial innovation within U.S. borders. It is fueling conspiracy theories that suggest that

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