🔥 CZ calls Peter Schiff's Gold Tokenization a "Trust Me Bro" asset
Quick news ⚡️
* Event: Binance co-founder, Changpeng "CZ" Zhao, criticized Peter Schiff's plan to launch a gold tokenization product, calling it an asset based on "trust in a third party" (Trust me bro).
* Details: CZ argued that gold tokenization is not real "on-chain" gold, but merely a "promise" that a custodian will hold the gold for you and return it later.
* Context: Peter Schiff, a gold advocate and constant critic of Bitcoin, announced plans to allow users to buy/store gold and transfer ownership via blockchain. In the interview, Schiff also reiterated his view that $BTC will "go to 0" and predicted the USD will collapse, making way for gold.
Scanner's viewpoint:
This is a classic debate, reflecting the conflict between decentralized (crypto) ideology and traditional assets that are "tokenized" (still requiring trust in a custodian). CZ's comments highlight the risks of "third parties" even when the asset is tokenized. This information is more noise than a direct impact on the market.
Related cashtags:
$BTC
$BNB
Quick news ⚡️
* Event: Binance co-founder, Changpeng "CZ" Zhao, criticized Peter Schiff's plan to launch a gold tokenization product, calling it an asset based on "trust in a third party" (Trust me bro).
* Details: CZ argued that gold tokenization is not real "on-chain" gold, but merely a "promise" that a custodian will hold the gold for you and return it later.
* Context: Peter Schiff, a gold advocate and constant critic of Bitcoin, announced plans to allow users to buy/store gold and transfer ownership via blockchain. In the interview, Schiff also reiterated his view that $BTC will "go to 0" and predicted the USD will collapse, making way for gold.
Scanner's viewpoint:
This is a classic debate, reflecting the conflict between decentralized (crypto) ideology and traditional assets that are "tokenized" (still requiring trust in a custodian). CZ's comments highlight the risks of "third parties" even when the asset is tokenized. This information is more noise than a direct impact on the market.
Related cashtags:
$BTC
$BNB
