Is Changpeng Zhao the Phantom Menace of Crypto? 👻💰

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Ah, Changpeng Zhao (CZ), the illustrious co-founder and erstwhile CEO of Binance, a veritable titan in the crypto cosmos, continues to cast his shadow over the industry, even after his theatrical exit as part of a plea deal with the US Department of Justice (DOJ). Who knew stepping down could be so… liberating?

While he professes to be dedicating his time to the noble Giggle Academy, a whimsical venture aimed at enlightening the masses, one cannot help but notice that his digital footprints still dance around the BNB Chain like a mischievous ghost. Speculation swirls like a fine vodka in a crystal glass about his unseen hand guiding Binance’s ship through turbulent waters.

CZ’s Grand Exit and His Post-Prison Fantasies

In a plot twist worthy of a Dostoevsky novel, CZ was compelled to vacate his throne at Binance in 2023, agreeing to a lifetime ban on managing the company. A lifetime ban? Sounds like a bad sitcom plot!

Upon his release, CZ proclaimed his newfound focus on Giggle Academy, a project designed to sprinkle free knowledge across the globe. Before his arrest, he was the academy’s most fervent cheerleader, aiming to teach children the fine art of dodging rug pulls. Because, why not?

“There are always more opportunities in the future than there were in the past…Giggle Academy has been going well, and will be a big part of my life for the next few years…I will also dedicate more time and funding to charity (and education). I have some rough ideas…Oh, Binance seems to be doing well without me back-seat driving, which is excellent. Every founder’s dream,” CZ mused on X post-release in September. A true philosopher, indeed!

Yet, his social media escapades tell a different tale—one where BNB Chain remains the star of the show, and CZ is the director, producer, and lead actor all at once.

Despite his departure, CZ’s influence over BNB Chain is as palpable as the scent of borscht in a Moscow kitchen. His vocal enthusiasm for BNB Chain has ignited a trading frenzy, eclipsing even Solana. Who knew crypto could be so dramatic?

On February 16, the crypto sage Crypto with Khan noted that BNB Chain’s 24-hour trading volume had soared to a staggering $3.73 billion, while Solana languished at a mere $2.66 billion. CZ, ever the data enthusiast, cited DeFiLlama, highlighting that BSC (BNB Smart Chain) had outstripped Solana’s weekly volume. A true underdog story!

However, the tides have turned, and Solana has reclaimed its throne, with BNB Chain now playing third fiddle to Ethereum. The latest gossip from DefiLlama reveals Solana, Ethereum, and BNB raking in $2.94 billion, $2.24 billion, and $2.15 billion, respectively. Oh, the drama!

The Crypto Community: A Circus of Opinions on CZ’s Influence

Meanwhile, CZ’s lingering presence in the crypto realm has ignited a firestorm of admiration and skepticism. Supporters hail him as a visionary, claiming that Changpeng Zhao’s touch has been the secret sauce for BNB Chain’s meteoric rise.

“What is happening with BNB Chain right now is a testament to the fact that a true dragon cannot be caged! CZ was jailed for four months and forced to step down from Binance against reason. He came back, took a short break, and chose to focus on BNB Chain. BNB Chain is already making waves under his direction, and it doesn’t take a prophet to see that things are only going to get more exciting from here,” proclaimed Da Viking, a core advisor at Floki. A true bard of the blockchain!

Yet, not all are convinced. Critics argue that his influence is akin to a double-edged sword. DeFi researcher Leviathan accused CZ of orchestrating speculative frenzies that leave chaos in their wake.

“Congrats CZ, you drove hundreds of millions of volumes on BNB as thousands created fake meme coins rinsing and rugging for millions,” Leviathan quipped. A sharp tongue indeed!

This criticism resonates with concerns that his musings trigger waves

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2025-02-18 10:14