Binance’s Changpeng Zhao has received more than its fair share of criticism since the launch of Binance in 2017. As a prominent cryptocurrency figure and CEO of one of the largest companies in the sector, this is to be expected. But the shooting was directed against him after an anonymous scandal regarding Chef Numi selling to SushiSwap turned out to be unjustified.
There are few things that conflict with the ethics of decentralized finance more than one number measures the quality or viability of a project. If cryptocurrencies and decentralized financing are associated with the desire to democratize financial markets and free the public from the central banking sector, then the responsibility for determining the cost of the project should fall on society. Anything less is against the imperative of cryptography.
We don’t want CZ to make decisions about projects that capture the hearts and minds of the public, just as we don’t want the same from institutions like central banks or legislatures.
To act or not, that is the question
At its core, Binance is an exchange that lists trading tokens. Users can do their own research and decide whether or not they want to shop on the platform. The question is not whether we should notice or not, but whether or not we should act. Only cryptocurrency traders can answer this question themselves.
Binance’s code of conduct has always been vague. As Czechoslovakia bluntly stated, Oslo Powers does not have firm rules for the applications they should not be designed around.
Social enthusiasm is by far one of the most important factors in Binance’s decision to include a token. The challenge for CZ as an entrepreneur is to respond to this enthusiasm by offering traders a trading platform. Just as shovel merchants are not responsible for compensating lost gold prospectors, exchanges cannot be blamed for poor token performance.
Properly avoid danger
Binance offers currency trading that has been enforced by the US Securities and Exchange Commission. Others decided in class actions. The exchange lists currencies that are focused on privacy, while many exchanges are not bound by tighter regulatory pressure.
If Ch.Z. She played a more active role in mapping projects worthy of support, she will be mocked for choosing winners and losers, and may face unwanted legal risks. With the tremendous uncertainty in the crypto regulation landscape, Binance’s light editorial stance toward SUSHI was understandable.
While the status of SushiSwap has not been an enlightening, questions remain about how dangerous it is. It is a good idea for the founders to allocate some tokens to the Development Fund portfolio. While it is a social contract that these institutions will nominally adapt to the incentives of the founders of the community and will not be put on the market, all that has been implemented here is to implement the code as written. Analysts warned of this possibility in advance.
Chef Nome rugs – as David Hoffman said – was pretty ironic. But Czechoslovakia isn’t just a space-saving partner.