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Binance's CZ Reacts to Sen Warren's New Major Anti-Crypto Initiative: Details
CZ speaks out against anti-crypto Sen Warren's concerns
CZ cited a tweet, which shared a recent public statement made by Warren to journalists. She once again said that crypto is going to ruin the entire US economy. However, she also added that she is strongly against any company that is trading on the New York Stock Exchange (NYSE) putting itself on the blockchain to go digital because this way these companies can get from under the SEC regulation.
In particular, she named two of the largest tech giants based in the US – Amazon and Meta, adding General Motors to them, as an example. If companies like this are no longer controlled by the SEC regulation, this will “blow up the value of the New York Stock Exchange.”
Quoting that tweet, CZ assumed that Warren’s concerns and potential regulatory actions, if they follow, will limit US companies allegedly “to protect the US economy/NSYE.”
CZ stressed that he does not oppose or criticize NSYE, however, he said: “it's just one company, fully owned by ICE, market cap: ~$100 billion.” Meanwhile, Amazon has a market cap of $2.40 trillion. The influencer added that NYSE does not constitute all the US economy but rather “all companies = economy.”
CZ's surprising comment on new Bitcoin ATH
Earlier this week, Zhao shared his take on the most recent Bitcoin all-time high above the $123,000 level. As Bitcoin soared there from slightly above $119,000, CZ recalled a story that happened many years ago with him.
He first bought Bitcoin in 2014 and then had to wait for three years for it to reach a historic peak of $1,000. Everyone was excited then, he recalled. However, he added, that now $1,000 is just less than one percent of the current ATH. He warned that in the future, this will repeat, and the current ATH will be just a fraction of those that will follow.