According to BlockBeats, on September 22, CryptoQuant CEO Ki Young Ju posted on social media that CZ should not be underestimated and he deserves respect.
When an industry’s intrinsic value is less than the capital it absorbs, society often views it as a “sin.” In this case, the people labeled “sinners” are those who built and participated in the industry. Society singles out the most influential people as culprits, believing that they should be responsible for the industry’s failure to develop properly. Although many people made mistakes, only a few atone for the “sins” of the industry.
From the perspective of mature society, the crypto industry is burdened with many “sins”. It absorbs huge amounts of capital, but its intrinsic value has not grown accordingly. Like other young and immature industries, crime is rampant – this is one of the troubles in its growth process.
Binance co-founder and former CEO CZ is ending a four-month detention. While he certainly made mistakes, his detention also carries a vicarious nature and represents the growing pains of the industry. CZ is a respectable businessman. Without Binance, the cryptocurrency industry would not have attracted the massive global liquidity it has today.
It is crucial to clearly distinguish between his strengths and weaknesses. “In my opinion, CZ’s achievements far outweigh his mistakes. He has paid his fine and his detention is about to end. The industry should start looking at him in a new light.”
