Changpeng Zhao, known as CZ, reacted to recent statements by Senator Elizabeth Warren regarding the digitization of major U.S. companies and limitations on their activities in the crypto market.
CZ Opposes Senator Warren's Anti-Crypto Position
CZ commented on Warren's speech, where she expressed concern that cryptocurrency could undermine the U.S. economy. She also spoke out against companies trading on the New York Stock Exchange (NYSE) moving to blockchain to evade SEC regulation. CZ noted that trading on NYSE does not encompass the entire U.S. economy and that major companies like Amazon and Meta should remain under regulatory oversight.
CZ's Comments on New Bitcoin All-Time High
CZ also shared his opinion on the recent Bitcoin all-time high, which surpassed $123,000. He recalled his early experiences in cryptocurrency back in 2014 and how it took three years to reach the first peak of $1,000. According to CZ, the current ATH will be merely a fraction compared to future achievements.
Current Prospects of the Crypto Market
CZ highlighted that the potential regulatory measures proposed by Senator Warren could negatively impact the economy and the development of digital assets in the U.S. He believes that all companies collectively make up the economy, not just the NYSE. This could lead to future changes and opportunities for growth in the cryptocurrency sector.
CZ's statements emphasize the importance of supporting the cryptocurrency industry and warn of potential negative consequences of excessive regulation on the future of digital technologies in the U.S.
