CZ recently reiterated that bitcoin is not dead, as the community is still actively involved amid the prevalent Crypto Winter.
CEO of Binance, Changpeng Zhao “CZ,” recently reaffirmed bitcoin’s resilience against the steadfast Crypto Winter and the crypto critics looking to bring it down, as he noted that the asset is still alive despite past and recent hurdles on its journey to global adoption.
“Bitcoin is not dead. We are still here,” CZ remarked in a tweet Sunday despite the panic triggered by the latest capitulation event within the crypto scene that has battered the asset to lower lows. CZ’s remarks also come amid the FUD provoked by the recent FTX implosion.
The comment has sparked several reactions from the crypto community, with most responses disclosing positive convictions as proponents stand in solidarity with CZ. Notably, co-founder of MicroStrategy and prominent bitcoin maximalist Michael Saylor received CZ’s proclamation well, as he highlighted bitcoin’s significant role in the quest to build a better world.
“Bitcoin is an immortal, indestructible, incorruptible foundation upon which to build a better world,” Saylor commented in response to the Binance Chief’s recent remark.
The FTX collapse, which has so far resulted in investor losses to the tune of billions, is the latest massive implosion the cryptocurrency community is experiencing this year, following Terra, 3AC, Celsius, and Voyager, among others.
Binance and CZ
The FTX debacle has mainly dealt a massive blow to investor confidence, making several questions about the wisdom of investing in crypto. Notwithstanding, the industry remains standing as others look to rebuild. Binance and CZ, in particular, have been active in mitigating the contagion.
CZ made a similar statement when he introduced Binance’s Industry Recovery Fund. “Crypto is not going anywhere. We’re still here. Let’s rebuild,” the Binance Chief said in a tweet last Monday, as he called for other entities to show support for its Industry Recovery Fund initiative.
Recall that CZ disclosed on November 14 that Binance would launch an “Industry Recovery Fund,” which will assist projects that are otherwise strong but caught up in a liquidity crunch, mainly due to the FTX implosion. The 45-year-old Chinese-Canadian business executive noted that the initiative is aimed at downplaying the effects of the FTX contagion.
Several notable entities within the crypto space have pledged support for the initiative, including Tron’s Justin Sun and Simon Dixon, CEO of FinTech investment platform BankToTheFuture.
CZ recently called for greater regulatory clearance for the industry, as that would help reduce risks of a reoccurrence of the FTX situation.
