As the title states, the recent lawsuit by the U.S. Securities and Exchange Commission (SEC) against Binance and its CEO Mr. Zhao Changpeng has been analyzed in previous articles. From the cause of this sanction lawsuit to the process and even several results that can be achieved, Uncle Cat has also analyzed it for everyone. However, due to the hierarchical relationship, we ordinary people can only guess, and there are too many things that cannot be verified, so many people have objections to my content, and even many people have already believed that the U.S. regulatory measures are the only way for the crypto world. After 3 days of accumulation, I have also seen various comments and articles, which makes me inevitably say a few more nonsense!
First argument:
Whether the crypto world should be regulated is right or not, my personal opinion is that it is right and it is also the only way for the crypto world to go.
However, this cannot be an excuse for the SEC's "robbery". They are stealing concepts and using the "righteousness" of supervision to do robbery. It is too ugly. Many people who don't know the reason think it is just supervision, but behind this nominal supervision, there are several conspiracies of revenge, blackmail and suppressing market share. I have mentioned it before, so I won't repeat it here.
Second argument:
Can Binance successfully withstand this crisis and become the next FTX?
Uncle Mao personally believes that first of all, FTX was different from the world's largest exchange at that time in terms of size, and its financial strength and overall operation were not at the same level. Moreover, under the leadership of Mr. Zhao Changpeng, Binance has been developing and growing in line with the core of crypto freedom. It is also because of crypto freedom that it has been favored by crypto enthusiasts from all over the world, and its market share is obvious. Moreover, the relevant management mechanism and credit system are also very perfect. When the SEC began to suppress the market, it caused panic selling and exchange, but in fact, according to Nansen's data, Binance's withdrawal volume did not increase again after the day of the incident. It is normal for traders to panic, but traders are not all fools. They also become calm after the panic. The traders in the market have proved one thing: "The eyes of the masses are sharp." The credit crisis is completely fictitious, so it is even more impossible to cause its own credit crisis like FTX and lead to bankruptcy. Of course, I believe that Mr. Zhao Changpeng of Binance also holds the same support for the regulation of the crypto market, but the regulation will not be generated in this form. Compared with the regulatory measures in Europe, they are both strict and have room for maneuver.
The third argument:
The weapon of financial warfare: public opinion warfare. Let's take a closer look at the process of this sanction.
First, the media announced that the US SEC had filed a lawsuit against Mr. Zhao Changpeng. Mr. Zhao Changpeng immediately tweeted that he was not the first to know about this. What does this mean? As the protagonist of the story, Mr. Zhao Changpeng was not the first to know the news. The media had already released accurate and affirmative news. This was the first step to suppress public opinion, causing changes in the market and triggering internal and external troubles within Binance. This was the first step.
The second step started, inducing exchanges in the United States to start taking sides, releasing news to suppress several old public chain tokens, causing market unrest, and taking the opportunity to sell their chips, further shorting the market. At the same time, accompanied by the suppression of public opinion, the news of freezing Binance’s US account was released at the first time. This kind of news naturally made many retail investors who did not know the reason decide that Binance had lost, but this was not the case. What was frozen was only one of Binance’s distribution in the United States, and before that, Binance had slowly shifted its focus from the US distribution. From this point, it can be seen that Binance and Mr. Zhao Changpeng are actually accommodating the US regulation of the crypto market. However, this kind of retreat again and again has not attracted goodwill, but more hateful targeting.
Twitter and other international self-media outlets have successively reported that Mr. Zhao Changpeng was "arrested" or "shot dead." Many people disagree with such ridiculous remarks and even forward them. However, your little fun does convey FUD sentiment invisibly. You should know that not everyone's cognition is clear. Many market novices only know one thing and do not know the other. They may be misled by such news and continue to spread rumors. Yes, this is what they want, the public opinion effect.
After the matter fermented for a few days, the seemingly smokeless battlefield entered a stalemate, but today there was a sudden news, rumored various problems with BNB, and even rumors that someone was selling BNB in large quantities. At the same time, Binance responded immediately, and a large amount of funds were transferred to the Binance exchange, ready to deal with the market crash at any time to protect the market. The purpose is to comfort the market and prevent the spread of FUD sentiment. This is actually a helpless move. Many people may say that since there is no problem with itself, why do we need to maintain stability? There must be problems with itself! If you think so, you underestimate the effect of public opinion. A small public opinion can bring down a building. A small ant hole can also cause the dam to collapse. Public opinion wars have always been an important way for American consortiums to make money. Dear senior investors, do you still remember the financial defense war in 1998? Soros relied on public opinion to quickly invade the financial markets of East Asian countries and frantically shorted. As a result, many people's funds were reduced to zero, and the economy of a big country like Thailand has never recovered since then. In order to save the Hong Kong stock market, we even made a national effort. The Internet is not without memory, but the people who use the Internet have lost this memory. What's funny is that today I actually saw all kinds of FUD news about Binance and Zhao Changpeng in Binance's communication software, and some even said that Mr. Zhao Changpeng was arrested. I really don't know how to evaluate this kind of person. Wearing a hat of self-awareness, he swindles everywhere. What you think is a small joke may be a sharp sword in the hands of enemy capital.
Many people may ask, does Uncle Cat have any intention or interest in supporting Binance? Actually, there is no intention. I am just a crypto person with a grateful heart. Putting everything aside, Binance is the world's largest exchange. After so many years of operation, it has also experienced the test of the times and all transactions, and there has been no credit crisis or even operating loopholes. Moreover, as a leader in the crypto market, Mr. Zhao Changpeng has always been doing real work for crypto freedom. At the same time, the projects issued on the Binance chain, and the projects included in the Binance exchange, and even the Binance investment projects, are all very "powerful". Compared with other exchanges, Binance's IEO projects were once the best safe haven for traders in the bear market. There is no doubt about this. Such an exchange can at least ensure that everyone is in a relatively fair trading environment. Now every time you spread FUD emotions, you are handing over a sword to the United States to suppress Binance. If Binance falls, who do you think will be the biggest beneficiary? Do you still expect American exchanges to bring so-called fair transactions to others? The United States does this just to consolidate its dollar hegemony.
I believe everyone has had enough of the dollar hegemony. If you don't want to conduct "unfair" transactions in an American-controlled crypto market in the future, please like and forward this article, and don't spread FUD emotions and messages at will, whether it's news or jokes. You can choose not to help, but please don't sabotage. If Binance collapses, our crypto freedom may no longer exist! The freedom that Americans themselves talk about is only the freedom of their capital, not the crypto freedom we pursue.
Reject FUD, reject public opinion wars, support crypto freedom, support Binance, and give your support for our battle to defend crypto freedom!