According to the host of Altcoin Daily, no other than Blackrock took down Binance. True or false, the news shook the crypto industry, as many people liked CZ. He did a lot for the ecosystem but is now resigning. He's pleading guilty to violations of anti-money laundering and is scheduled to appear in a federal court in Seattle.
CZ probably saw it coming as he knew that he took certain risks and claimed that he couldn't always be aligned 100%. BINANCE is now settling for $4.3 billion and CZ himself, is paying a $50 million fine. Peace of cake for CZ, one of the richest crypto billionaires who made $60 billion.
Altcoin Daily argues that CZ had no other way out than to plead guilty to the money laundering charge in order to avoid much worse. He's rich and gets off easy with a possible 2 to 5-year probation.
According to the host, the SEC is clearing the way for Larry Fink at Blackrock, so this company can be the one selling people Bitcoin in the next bull run.
His theory: Who takes the number 1 spot from Binance now? Thinking that Blackrock took out Binance means that no one else wants this treatment either. He argues that Blackrock is more or less the US Government. Now that Binance is no longer uncontrolled, the Blackrock ETF can finally be approved.
He further argues that associates like COINBASE will be the biggest winners, as well as Vanguard where 90% of Gary Gensler's $120 million is invested. The next bull run will be driven by ETF demand. He believes things have been made to align perfectly for big money to profit from this bull run.
My thoughts: I believe that CZ has made a lot of money on the back of small investors who were ripped off by the platform's market manipulation schemes like Pump and Dump, FOMO, Whale Walls, Order Book Spoofing, Wash Trading, and FUD. You can not argue that CZ didn't commit any of these manipulations. Or that he knew they were going on. It is a good thing that the exchange will be subject to control. This industry needs regulatory clarity.
