Crypto Elegy: Money cannot buy power, the world is a grassroots team that raises traps and kills

Recently, the biggest news affecting the crypto market is the plight of Binance founder CZ.

U.S. prosecutors said in a court document on Tuesday (April 23) that prosecutors believed that Changpeng Zhao should be sentenced to 36 months in prison, which greatly exceeded expectations and that Binance had previously agreed Accept $4.32 billion in criminal penalties.

People are knives, and I am fish.

The moment CZ set foot on American soil, he may have become the new Pool of the U.S. government, Staking CZ To Earn.

The world is a grass-roots team that raises traps and kills.

Many people think of TikTok and Huawei, but the latter two may be in a much better situation.

TikTok always has the choice to advance or retreat, and also has legal weapons to fight back, not to mention that he actually mobilized the masses and called on users to call the US government to put pressure. Huawei seems to have become a MEME representing patriotism. Behind it is the country and the people in a certain sense. When Meng Wanzhou was in jail, there was always national power to support and rescue her.

As for Binance and CZ, they can only correct their attitudes and admit their mistakes and get beaten. Although people in the encryption industry are aggrieved for CZ, looking at the entire public opinion, most people are gloating and cynicizing about it. They clapped their hands and applauded when the capitalist was hung up on the street lights, let alone a Crypto capitalist.

This is also a deep-seated problem faced by the entire encryption world. The encryption industry has money but no power, and lacks social status and recognition.

A so-called big boss in the encryption world can only tremble when facing the police in county-level areas.

Many crypto-tycoons with financial freedom choose to open up a second battlefield and give themselves a glorious social title, craving social status and respect and recognition.

Just like the dark forest theory in "Three-Body", people who have become rich in the currency circle have hidden their wealth and IP. Once their wealth is exposed, they will inevitably get into trouble. Everyone has a profound understanding of the famous saying, "Muffled Voice" Make a fortune, this is the best."

In the eyes of regulatory agencies in various countries, Crypto may be the best "regulatory target": it is rich in gold and grabs a lot of wealth from the global market; it does not provide local funds. Creating too many jobs and taxes, without law enforcement resistance from other social sectors; not linked to the real world, and without public opinion pressure from the entire social level... Crypto has become a lamb to be slaughtered around the world.

Throughout the history of business, whether it is manufacturing, real estate, banks, or Internet companies such as Google, Meta, Tencent, and Alibaba, they have gradually become the infrastructure of society, thus forming an integral relationship with the country, society, and people. Interests are tied up.

TOO BIG TO FAIL (too big to fail) is their confidence.

The encryption world lacks this kind of confidence. The disappearance of an exchange or an encryption project will not cause too much direct loss to the government and society, nor will it make a big splash in society.

then what should we do?

Fundamentally speaking, Crypto needs to prove its "positive externality", that is, generating value and benefiting society. Although this is still more on paper at present, it has been expected " Mass Adaption" did not appear, only "MEME wave, local dogs everywhere".

Except for the relatively recognized value of leading assets such as BTC\ETH\SOL\BNB, other assets still need to prove their long-term value.

Currently, the encryption track that is most capable of generating external value and connecting to the real world is still stablecoins, which are one of the few encryption killer applications.

In addition, there is no charity for no reason, power comes from struggle. The US SEC passed the Bitcoin spot ETF because it lost the court trial. We should call for and support more such "upward struggles", of course, only in U.S.

We need to pay tribute to organizations such as Coinbase, Grayscale, Paradigm, a16z, etc. that actively engage in encryption litigation and encryption lobbying. Only if the regulatory rules in the United States become clearer and smoother, can Crypto’s global road be smooth.

Finally, if you compare encryption to religion, just as the expansion of religion depends on converging with royal power, encryption needs more preaching to the powerful, just like preaching to Musk and Larry_Fink (founder of BlackRock) Preach, preach to Ibrahimovic (President of El Salvador)... don’t let Crypto become an island.

Lu Xun once said, "There is no faith in this world. With more CX, there will be faith."

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