“Binance is too big to fall”
The above statement was stated by the creator of the Cardano blockchain, co-founder of Ethereum, Charles Hoskinson when asked about “if Binance is having problems” during a talk on Twitter Space. The above answer was given without hesitation by Charles, followed by the consent of the participants.
Binance and its creator, CZ, have become a huge force both inside and outside the crypto world. This is something that no one can deny. However, such a large centralized entity in a decentralized market, reminds us of Sam's fall to the FTX and Alameda empires.
CZ is being praised by the community as the hero who exposed the crimes in the cryptocurrency market. That again shows that the trust of users on CZ, Binance, is simply too great.
During the hearing on the morning of December 14 (Vietnam time) of the US Congress on the FTX case. Congressman Tom Emmer made a remarkable statement: “This is the end ofconcentration, is the failure of their business efficiency and crime. This is not a failure of technology…. Decentralisation is the point”.
With the current expansion of CZ. Should we start questioning this power? Or simply, is CZ the chosen one to lead crypto into the new era of technology?