Cryptocurrency pioneer CZ fired back at US Senator Warren’s statement that crypto doesn’t need taxpayer bailouts. CZ agrees with Warren that crypto is self-sufficient, but emphasizes its decentralized nature as its greatest advantage.
CZ points out that banks rely on taxpayers for support during times of crisis, whereas crypto has survived major downturns like the 2008 financial crisis on its own. This highlights a fundamental difference between traditional finance and cryptocurrency: decentralization means independence from government bailouts.
In contrast to Warren’s words, CZ notes that regulatory pressure can actually strengthen the value of decentralization in the long run. He advises against short-term panicking and encourages readers to make informed decisions about investing in crypto, citing its extremely high risks.
Source: https://www.binance.com/en/square/post/293512023162929