pull down to refresh
189 sats \ 9 replies \ @quark 22 Nov 2023 freebie \ on: Is There More Than Meets The Eye With The CZ Deal? meta
It really feels like Binance was too big too fail and they offered this deal to avoid cascade effects in all crypto market just in time before the ETF approval. Very expensive deal. Sending a message that crypto is good now and regulated. One step closer to ETF and green light for crypto institutional investment.
I agree with everything you say from the establishment's perspective, but why did CZ go along with it? It wasn't such a great deal for him.
reply
Maybe he paid in BNB
reply
That explanation seems too clean to me, but if I run with it: presumably he's got epic bags; and so anything that legitimizes crypto / bitcoin enough to nudge to mainstream adoption via ETF is, on the macro timescale, good for him?
reply
Yes. That's true. I just have the feeling based on the speed and ease of this deal that there's more to the story.
reply
Yeah who knows. He may be so guilty of things we may never know that this could be the best option and wants to start over a new life. Or If he collaborates he gets less jail time if any.
reply
Under the federal system, if he cooperates with the government he'll get what they call a 4K letter, which allows a judge to ignore the sentencing guidelines and give him no jail. To get this, though, you typically have to provide evidence against someone else about crimes.
He may want to start a new life, but he doesn't have to do it in the U.S. There are plenty of countries where he could live like a king without fear of extradition.
reply
Actually it's a 5K letter! It's been a while since I practiced federal criminal defense law. I'm embarrassed.
reply
No worries. 4K sounds good to me too hehe. I understood the concept. Very interesting.
reply
I've thought about this as well. The agencies that claim to exist to protect the public don't really seem to care that much about that. I say that based on their actions. So it seems odd to me.
reply