By George Ward
Changpeng Zhao, the Binance CEO, recently remarked on Bitcoin’s tenacity against the persistent Crypto Winter and the cryptocurrency detractors seeking to take it down. He noted that the crypto asset remains alive even after facing past and present obstacles to widespread adoption.
“Bitcoin is still alive. Despite the terror brought on by the most recent collapse in the crypto sector, we are still here,” CZ wrote in a recent tweet. CZ’s comment follows the FUD sparked by the recent FTX collapse, which brought the crypto market to new lows.
His remark attracted replies from members of the crypto community worldwide. Most of them share similar opinions as CZ.
Notable among them is Michael Saylor, MicroStrategy co-founder, and a well-known BTC maximalist. Saylor further emphasized Bitcoin’s crucial role in creating a better world.
Saylor responded to the recent statement made by the Binance Chief by saying that “Bitcoin is an indestructible, immortal, incorruptible platform on which to construct a better society.”
Crypto Will Not Disappear – CZ
The FTX crash is the latest cause of the crypto market downturn after the Terra network crash in Q1 2022. The Terra network crash resulted in the collapse of crypto firms, especially 3AC, Voyager, and Celsius.
Hence, it isn’t surprising that investors’ trust in the market is at its lowest ebb. Many of them are raising concerns about the rationality of investing in cryptocurrencies.
Nonetheless, some industry leaders, such as CZ, have taken it upon themselves to start a rebuilding process that will prevent a similar occurrence. One such initiative is establishing the industry recovery fund by CZ’s Binance.
While announcing the launch of the fund, CZ urged other crypto firms to do the same. According to him, this fund will help stabilize the crypto industry.
Simon Dixon, CEO of BankToTheFuture, and Justin Sun of Tron are among the well-known figures in the cryptocurrency world that have pledged their allegiance to the initiative. Also, CZ recently advocated for increased regulatory authorization for the sector.
He argued that precise regulation would prevent or lessen a recurrence of a similar FTX incident.