Yesterday evening, the 4.24 Neican “Beware of the Selling Pressure of Mt. Gox Compensation” reminded us of the issue of Mt. Gox compensation selling pressure. Bitcoin (BTC) took a dive from its highest point of 67k to a low of 63.6k, a drop of exactly 5 points, clearly targeting the liquidation of long leverages of over 20 times.
The Neican also mentioned that the US Department of Justice (DOJ) is seeking a 3-year prison sentence and an additional $50 million fine for Zhao Changpeng (CZ), the founder and former CEO of the world’s largest cryptocurrency exchange Binance.
Ah, what happened to the “plea deal” that was supposed to exempt CZ from prison after confessing to and settling $4.3 billion in fines? Isn’t the US supposed to be the beacon of humanity and moral model that values the “spirit of contracts”?
How did the US Department of Justice turn its back on the “spirit of contracts” so quickly?
Educating Chain (Jiaolian) has already discussed in the article “The US Swallows Binance, Changpeng Zhao Pleads Guilty” on November 22, 2023, that what the US is seeking is not just $4.3 billion, but complete control over Binance. “Treat, execute, and accept it as a dog!”
The so-called “treat” is nothing more than a trap. The Americans want to play the role of Xiang Yu, the Chu hegemon, and hold a “Hongmen Banquet” for CZ, but CZ doesn’t have the luck of Liu Bang, who was able to escape.
Liu Bang sent a message to Xiang Bo (Xiang Yu’s uncle) saying: “After I enter the capital, I won’t touch any of the wealth and just wait for the King to take over everything.”
He Yi (CZ’s partner) stated in a plea letter to the judge: “When CZ led Binance, he operated with integrity and never misappropriated user assets.” (He also cited FTX as a counterexample)
Liu Bang understood that what the big brother really wanted was not just “not touching any of the wealth”, but “taking over everything”.
But even so, does that guarantee his life? Not at all. The reason Liu Bang survived was purely due to historical luck — if Xiang Yu had the decisive and ruthless character of Liu Bang, Liu Bang would have died at the Hongmen Banquet.
However, Xiang Yu, after all, came from a noble family and still had a trace of kindness in his heart. In a moment of hesitation, he couldn’t make up his mind to kill Liu Bang, and ultimately ended up committing suicide in the Wu River.
An organization, compared to an individual, is more ruthless, cold-blooded, and focused on self-interest. Xiang Yu, as a person with emotions, let his sensitivity disturb and disrupt his rational calculations. But the United States, as a whole, with its judicial system as a machine, is absolutely cold, rational, and prioritizes American interests above all. The American hegemon will never make the low-level mistakes of the Chu hegemon.
Moreover, Liu Bang brought Fan Kuai to intimidate Xiang Yu, and brought Zhang Liang to stay behind and send gifts as a safeguard, while he himself sneaked away alone on a horse.
But CZ went to the US alone. He didn’t have any chips to intimidate the Americans, no bodyguards to protect him from bullets, and no plane to secretly escape from the US border. And the US, without Xiang Yu’s noble temperament and spirit of contracts, is a thousand times more rational and calculating than the merciful Chu hegemon. Whether it’s the power to escape or the luck to escape, CZ doesn’t possess it.
After the Hongmen Banquet, Fan Zeng was so angry that he smashed the jade that Xiang Yu accepted, scolding Xiang Yu for not being able to work together on important matters, and asserting that the person who would take over Xiang Yu’s world would be Liu Bang. And Liu Bang, at the banquet, tricked Xiang Yu into revealing that Cao Wushang had betrayed him, and he knew that he had ambitions of betrayal himself, so after escaping back, he immediately killed Cao Wushang. From this, we can see the characters of Xiang Yu and Liu Bang. One was too kind and indecisive, while the other was rational, calculating, and decisive.
But in the game that CZ went to, the characters of the host and the guest were reversed. The host, the US, was ruthless and cold-blooded, while CZ, the guest, was full of fantasies.
CZ really did “think too highly of the US” this time.
Once in court, CZ overturned the agreed bail conditions and was not allowed to leave the country. The promise that he could return to the UAE during the bail period has also become a piece of toilet paper. (Refer to the Jiaolian article “Changpeng Zhao’s Wings are Clipped” on November 28, 2023)
Once someone is detained, the time and initiative are completely in the hands of the US. The originally scheduled judgment in February has been repeatedly postponed, and there is still no sign of it by the end of April. The longer the time, the more advantageous it is for them to gather evidence and fabricate charges. The original charge of confessing and settling was not mentioned again, and new charges were found. “Double jeopardy” is the spirit of the law, but finding new evidence and adding new charges is completely in line with the spirit of the law. The originally pleasant-sounding “plea deal” would have resulted in a light sentence of a few months without imprisonment (actually going in and staying there) as long as CZ confessed and settled. But now, with the new charges, it has suddenly become 3 years, and if it takes that long, there is a chance of an actual prison sentence. What’s more infuriating is that a large fine has been added. They really treat CZ like an ATM.
CZ is a good man who values emotions and loyalty. He moved his family to the UAE and changed his Canadian citizenship to Emirati citizenship. The customs and laws there allow polygamy. He fulfilled his obligations to his wife and children in every aspect, including wealth, status, and children.
On the other hand, Liu Bang can be described as heartless and ungrateful. In 205 BC, Liu Bang led a coalition of 560,000 troops to attack Pengcheng but was defeated by Xiang Yu’s 30,000 elite soldiers. Liu Bang hurriedly escaped in a horse-drawn carriage. Along the way, he encountered Liu Bang’s two children, Liu Ying and Princess Lu Yuan. Xiahouying quickly saved the children. But the two children added to the burden of the carriage, so Liu Bang kicked them off the carriage. Xiahou Ying saw this and hurriedly saved the children again, but Liu Bang kicked them off again. Historical records say, “There were more than ten times when they were saved and kicked,” meaning they were saved and kicked off the carriage more than ten times. In the end, Xiahou Ying had no choice but to let the children lie on his shoulder, holding onto his neck, and with a whip, he drove the fast horse, successfully escaping with everyone’s lives.
History has long shown us the cruelty of the underlying laws of this world: the kind-hearted and loyal Xiang Yu committed suicide in the Wu River, while the heartless and ungrateful Liu Bang founded the strong Han dynasty!
“Force moves the mountain, and the spirit covers the world. The time is not favorable, and the horse is not fast. The horse is not fast, what can be done? Alas, what can be done!”
It’s strange and strange, but it’s CZ’s fault that he succeeded too quickly. Since Binance was established in 2017, in just one cycle (the 4-year Bitcoin cycle), it has become the world’s number one cryptocurrency exchange. CZ has also been named the richest person in the crypto industry by American institutions. (Refer to the Jiaolian article “Madman’s Diary” on December 3, 2021)
Since then, he has been “targeted”.
Success came too quickly, and many things couldn’t keep up. The most fatal thing is that his brain’s software upgrade speed couldn’t keep up. At his current position and wealth, he must completely abandon the set of “values” that he was taught from books since childhood, such as Western-style democracy, freedom, law, and contracts. At this moment, they have become heavy shackles on his thinking.
He has the typical political naivety of a foreigner who has never truly understood the core of American ideology.
Even though he has held Bitcoin for many years, it has not washed away this naivety.
Satoshi Nakamoto, the inventor of Bitcoin, who has lived in the United States for many years, is obviously much more mature than CZ when it comes to understanding the nature of power.
(Public account: Liu Jiaolian. Knowledge Planet: Reply “Planet”)
(Disclaimer: The content of this article does not constitute any investment advice. Cryptocurrencies are highly risky and carry the risk of going to zero at any time. Please participate with caution and take responsibility for yourself.)
Tags:
Mt. Gox
Liu Jiaolian
Investment Insights
Bitcoin
Zhao Changpeng
Thoughts
Source link:
https://mp.weixin.qq.com/s/wBTZCqazEB1SoWRqm_QU2A
Note: All articles on Bitpush News only represent the author’s point of view and do not constitute investment advice.
Original article link: https://www.bitpush.news/articles/6644703
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