In the face of regulatory turbulence, Changpeng Zhao (CZ), the visionary behind Binance, is finding support from the crypto community during what has become a challenging period in his career.
Notable figures in the industry, including Roger Ver and Erik Voorhees, have stepped forward to express their solidarity.
The crypto landscape has witnessed increased regulatory pressure, affecting major players such as Ripple, Coinbase, Binance, and Genesis Exchange. Frustration within the community is palpable as law enforcement actions continue to unfold, underscoring the urgent need for clear and comprehensive crypto regulations governing digital assets.
Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself.
Binance is no longer a baby. It is…
— CZ 🔶 BNB (@cz_binance) November 21, 2023
Roger Ver, founder of Bitcoin Cash (BCH) and the top spokesperson in the community, has vocalized support for CZ, shedding light on the difficulties of launching a crypto startup amid threats and extortion. Many other crypto companies have made suggestions to relocate their projects outside of the USA, to navigate through the regulatory challenges.
You didn’t step down.
You were forced to step down due threats of violence and extortion from strangers you’ve never even met.
You are a 1st generation crypto hero.
Keep your head up high! https://t.co/2hVJ0bGi6T— Roger Ver (@rogerkver) November 22, 2023
SkyBridge Capital’s leader, Anthony Scaramucci also voiced support, emphasizing on X that no customers were harmed by Binance’s actions. This clearly differentiates it from other cases in the industry. Pointing out that suffice to say, there is a huge difference from FTX. “This is the main reason why SBF is going to jail for decades and CZ’s gonna be drinking pina-coladas somewhere on a beach”, Scaramucci tweeted.
Erik Voorhees, a respected voice in the crypto space, has lauded CZ as a frontline hero in the ongoing industry struggle. It’s noteworthy that, amidst the charges CZ faces, allegations do not include misappropriation of funds or market manipulation, again distinguishing his case from others in the crypto sector.
As the crypto community rallies behind CZ, conversations about the pivotal role of decentralization persist among retail crypto investors. They eagerly anticipate a new financial era driven by decentralized technologies, embodying the spirit of financial freedom.
