CandleFocus CryptoQuant CEO Justifies the Role of CZ in Crypto
2024-09-22
Author: Content Editor
The crypto industry is divided as Changpeng Zhao (CZ), the founder of Binance, prepares for his release from four months of detention. Ki Young Ju, CEO of CryptoQuant, defends CZ and highlights his pivotal role in growing the crypto industry. Ki Young Ju emphasizes that Binance never used customer funds, distinguishing it from other exchanges like FTX. Critics argue that CZ's leadership has ethical concerns, including accusations of facilitating money laundering, but defenders believe these are part of the industry's evolution. CZ's defenders argue that Binance's practices were different, especially regarding customer funds. The U.S. Department of Justice charged CZ with aiding money laundering but did not accuse him of stealing or gambling with customer deposits. CZ's release suggests a nuanced view of his case and recognizes his contributions to the industry's growth.
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