CZ and Crypto: The Game of Gains
So CZ Binance is sentenced to four months in prison and a four billion dollar fine; I guess we all understand the famous four-picture meme. On a more serious note, they have been wanting to get him for a while; he resigned as the figurehead to run things from the shadows, just to avoid the FEDS and the law, but they will not let him go. CZ probably does not want to be a haunted man, and prolonging these issues and a potential indictment could be bad for his company.
The Man (CZ) is already aware of what is to come, and rather than blaming the police-and-thief game on the FEDs, why not simply give them a piece of him?
I am not concerned about the four months in jail he received; it is more concerning that he had to pay a four billion dollar fine, but I suppose the fine covers more of the potential sentence he could have received, given that he could have faced ten years. Overall, I believe everyone is satisfied.
The Department Of Justice is happy, CZ is happy, end of story. It is not like he will be in a Mexican prison with drug lords and gay men smoking cigars; we all know this is a luxury sentence, but this is a game of gains, and both parties, including CZ, are satisfied. It could have been worse for him, but he goes to prison as a Martyr, it is hard to see a single criticism anywhere, no one had or has anything terrible to say about CZ, I want to say that it is mostly because of Binance's reputation in crypto.
CZ has been involved in the evolution of crypto and people feel like we owe him this support in these turbulent times, but let us not forget that CZ has not done this out of the goodness of his heart, he is a multibillionaire and arguably the wealthiest person in crypto. He has, of course, been involved in numerous shady activities to get to where he is now. He is not a saint, and for his shadiness, serving a luxury sentence and paying a small fortune from his vast wealth is a good deal.
We are sentimental people in crypto, so we will mostly see him as a Matyr who made the ultimate sacrifice. I am not saying he isn't. Consider this: if Pablo Escobar was offered a deal in which he would pay a fine and keep half of his ill-gotten wealth, I am confident he would accept it. Of course, CZ has done far less than Escobar, so the comparison may be misplaced, but my point is that wealthy people share a mentality: they are willing to pay a price for the greater good.
I am not saying he is a bad guy; he is paid his dues and is a driving force in the evolution of cryptocurrency, but he also has some skeletons. However, it is probably a good thing that his minor indictment has not causedFUD. As I previously stated, crypto investment is still extremely sentimental, and his indictment could have caused someFUD, but it didn't.
In Conclusion
My prediction is that he will be released from prison in September, a wealthier man running his business from the shadows, and crypto will continue to celebrate him. Everyone will famously remember him from his "4" tweet he made sometimes ago or so, and the advice he had for people towards resilience and courage and bravery towards holding their bags.
At the end of the day, it is been a game of gains, and one thing about crypto is that everyone wants these potential billions from crypto, including the DOJ and those no-coiners who are constantly FUDing crypto.
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It's a win for everybody involved. It's a good game played by cz. I believe is doing this because he doesn't want to prolong anything, and I also believe there is an agenda behind everything.
I believe he's mostly doing it for his wealth and his company. It's a huge win for him, and in 4 months, he's coming back to become super richer than he was
The way CZ dealt with those entire situation is outstanding and smart.
Walked in built so much in crypto, paid that heavy fine now doing 4 month sentence and now he have more respect, money and as he said before living his next chapter of life will be education... Everything felt unreal especially "4" guy been tweeting that everything that happened to him revolved around 4 lol like it's a simulation.
It truly looks and seem like a simulation, it's true it was smart how he managed to pulled this one off, but being one of the wealthiest men in the world I'm sure we won't be surprised.
Will be even more rich when he comes out of the jail... A wild bull run ahead imo.
Exactly what I feel too..
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I felt he must have found a way to scale through but I’m sure he accepting the imprisonment and maybe something big could come up later…
He got a good deal, you have to remember that there are two justice systems in the US anymore, one for rich and one for the poor....
How are you holding up?
You're right, one for the rich and the other for the poor. He truly got a good deal, he's got a lot of billions to come back to, and the two parties are happy indeed
Due to this news in the market we have seen panic if we see when this month will end if the cadels which are closed above 62 thousand then the worry will be over if not then If it doesn't, we will come up to 52000 again.
I like the way you analysed it, I didn't give it much thought initially but now I do and I agree. It was a well worked plan with potential for great gain.
It's just a process of paying fines for business and I agree that both sides are happy. The DOJ gets money and CZ gets to pay off any crimes that he had. Even with the fine, he probably has more money than he can spend during the rest of his lifetime.
Both sides are truly happy, I feel that CZ is happy to just come back after four months and be free from all the charges and starting on a clean slate..
I liked the fact that he played the greater good card instead of trying to run back and forth with the authorities. Definitely a very influential man in crypto and I think when he comes out, he'll probably continue doing his work and building albeit from a different angle.
He's going under the shadows to control running Binance as the invincible man. The department of justice and everyone knows this. Most importantly he's happy to come back four months later as a free man
Yes, it could also be that now he's running Binance co jointly with other entities that also want to remain invincible.