News - Charles Hoskinson: CZ's withdrawal from crypto "the end of an era"

By Mike Hesp

Charles Hoskinson: CZ's withdrawal from crypto "the end of an era"

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Changpeng "CZ" Zhao is stepping down as CEO of Binance and may have to go to jail. This marks the end of an era for Cardano founder Charles Hoskinson.

The recent events surrounding Changpeng "CZ" Zhao and the crypto exchange Binance also have Cardano-founder Charles Hoskinson did not go cold.

Hoskinson responded to the US withdrawal and Zhao's departure as CEO with a video on X:

In the statement, Cardano's founder described Zhao's departure as the "end of an era" - from now on, crypto entrepreneurs would be faced with a choice: either cooperate fully with regulators or develop completely license-free protocols that could not be regulated.

Changpeng Zhao was among a group of cryptocurrency entrepreneurs who had given everything to a strategy of "move fast, grow and innovate."

CZ was "one of the greatest entrepreneurs of our time," whose crypto exchange acted as a stopover for trillions of US dollars in assets.

According to Hoskinson, in the future there would no longer be such entrepreneurs in the crypto sector. From now on, they would no longer be able to use centralized systems if they flout the applicable rules. Hoskinson sees the reason for this in a U.S. policy change. "The financial regime of the United States has effectively become a weapon," the Cardano boss said. This system does not allow entrepreneurs to open markets that "allow America's enemies to trade."

At the same time, the U.S. financial monopoly is shrinking and more and more countries around the world are questioning the role of the U.S. dollar as the world's reserve currency.

However, the end of the regulatory road has not yet been reached with the recent events surrounding Binance. Hoskinson predicts an "attack" on external crypto wallets.

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