In the year 1977, a star fell over a province called Jiangsu in China. The locals knew that the gods have sent a gift to their people but what they did not expect was a god amongst men. Changpeng Zhao was his name and his mission on our planet was unclear at the time.
Many years have passed before he realized his true call and purpose on Earth but then, something unthinkable was about to take place. Our God became a sinner...
Envy
As you all probably know, our civilization realized that we live in a bubble during the financial crisis in 2008. This was a time when the people demanded answers but the governments did not want to provide them. A mysterious figure proposed a solution in the form of decentralized currency that would free us all, but Changpeng Zhao had other plans.
Decentralization may seem like an interesting concept but this is not what our hero was used to. He was born and raised in the garden of Eden. A place where no mortal should hear no evil or speak no evil. This new atrocity called Bitcoin was threatening to destroy his utopia and he would not allow it. With the help of a few friends, he was determined to take away the "de" from decentralization and thus, OKcoin was born. His plan to own decentralization almost worked but some meddling journalists had to ruin the party.
As it turned out, wash trading, bots, and fake volume were the main driving forces of an exchange that was supposed to be the biggest crypto marketplace in China. While the dirty laundry was slowly turning into a dumpster fire our godly figure was planning his escape.
Lust
Our cryptocurrency superstar in the making didn't want to take their bullshit anymore so he decided to speak out and open the eyes of our gullible community. Too bad he deleted his Reddit account and all of his posts with it but he forgot one very important thing - The internet isn't made in China and what was once posted on the internet, stays on the internet. Damn you Wayback machine!
After he confessed his sins and decided to start all over again, he couldn't run away from his past. His partner in crime He Yi followed in his footsteps and embarked on a journey that would take them further than they expected. Decentralization will not get away that easy. This dynamic duo has another trick up their sleeve and that trick comes with a bombastic name.
Enter Binance.
Greed
In July 2017 our mastermind founded what he today calls "the leading cryptocurrency exchange" even though his own website puts it well below the top 10 by trading volume.
While one may think that his greed lies only in the outrageous withdrawal fees we must not forget that he always keeps his mind on his ultimate goal. You can't own decentralization if you skim a few bucks on the side. You need something bigger, something better, and something that would bring millions of gullible "investors" to your centralized platform. For now, let's just call it a launchpad.
ICO's were big at the time so you can't blame our lad for promoting the very best projects on his centralized exchange. Let's have a look and see how big are the gains that he brought to his users that he loves and respects.
Insane volume and amazing price action... I can almost understand why he only promotes Bitcoin as the best project in the space even though it goes completely against his views and business model.
To be fair, our hero allowed some projects to be listed on his amazing exchange via public voting that required the use of his own shitcoin named BNB. One community, in particular, believed him, voted for their project named Digibyte, and spent a lot of money on the votes. As fate would have it, CZ wanted more than that so the deal never happened. As for the fees your community had to pay... CZ didn't even want to bother with your pocket change.
Pride
Like all great leaders that were born and raised in his country of origin, our hero doesn't like it when you mention facts on his Twitter feed. Did I say facts? I meant FUD.
With the help of his best buddy in the whole wide world, he is determined to fight naysayers with bots and a paid Twitter army.
How would this FUD fighting machine work, one might ask? Well, there is this agency called Cryptoken Media and they love to boast about their clients. As you might have guessed, Binance is on the list.
And how does old Barnum know that they offer Twitter bots and FUD fighting squads? It is amazing how far a little social engineering can get you these days.
Sorry, I never followed up on that one, Teodor.
Sloth
The supreme commander of a centralized powerhouse that feeds of the gullible and uninformed would want you to believe that he has no connections to another communist superstar that goes under the name Justin Sun, but that just isn't the case.
During their venture on Malta, they were both stationed in the same office. This is not speculation, this is a fact.
CZ may be good at lying but he is very bad at covering his tracks.
That Binance hoodie looks amazing in the back. And who is that guy with Justin Sun? Another shitcoin creator that goes by the name Alexandre Dreyfus but let's leave him out of this for the time being.
Needless to say, CZ was overwhelmed with his new roommate.
I honestly can't understand why he keeps deleting tweets. Can someone please tell him that you can't hide stuff on the internet? I would take care of that but I'm having some technical issues right now.
His careless scams span far and wide so I will just stop here. If you want to find more, read this and check out the fake BTC giveaway somewhere in the middle.
Gluttony
Sometimes our crypto mastermind seems to forget that his followers are fake and his community is nonexistent. During the COVID outbreak, he was so shameless that he wanted to use a pandemic for a failed marketing stunt.
He was so sure that this was a great idea that he expected 1 MILLION retweets. As we can all see, 10k is all he got but even though he missed his goal by a long shot, he decided to donate a whopping 2 million USD nevertheless. And if you think this is a good thing, you should consider looking into Binance charity and the business ethics of Helen Hai.
Cico Crypto covered this story better than I ever could
Wrath
No one seems to know how and where this centralized monstrosity operates. Our crypto God was quoted many times that he is willing to do business "in creative ways" to avoid "unnecessary regulation". In November 2019, The Block published an article stating that a Binance office was shut down in Shanghai after the authorities "visited them".
Even though the story was never taken down and proven to be misinformation, our protagonist decided to go on Twitter and inform his followers that these liars will be sued. All that was changed was the usage of wording in the tile and as for the lawsuit... You can guess that one on your own.
It is now a common thing to see the CEO of the most centralized exchange in the known universe going on a tweeting spree every time someone hurts his feelings but at least he knows where the delete button is. It is only a matter of time before he starts deleting the tweets about The Block as well.
Redemption
To redeem a soul that was as sinful as our decentralization expert one must ask a few questions and try to get the right answers from him. If you need ideas, here are a few:
If OKcoin used trading bots and faked their trading volume while you were a vital part of that organization, is it safe to assume that Binance is using the same tactics as well speak? After all, the "adjusted volume" section on Coin Market Cartel says that your exchange can't compete with the top 20 while faked volume puts you in the No 1 spot.
Why did you lie about the Visa partnership when you announced the Binance card?
Why did you force the Digibyte community to use your own shitcoin to vote on a poll that you turned into a scam fest and why didn't you offer refunds if the voting was indeed rigged, as you misled many to believe?
Why did you have to purchase CMC when you already had Binance Info? Are you so bad at creating your own price tracking platforms and is the lack of having an actuall community preventing you from making Binance Info the leading coin price tracker in the space?
What is your relationship with the Tether cartel? This is a project that was never properly audited and is known in the crypto community as a ticking time bomb that has no actual backing and no proof of any reserves for that matter. After all, your centralized exchange is holding a big portion of Tether's supply.
Why didn't you issue a statement regarding Steem token holders that couldn't withdraw their tokens from Binance during the Steem hostile takeover? Why did you lie that the wallet was under maintenance while you actually accidentally locked user funds on this platform?
Who gave you permission and right to use user funds as you please, lock them on a platform that doesn't belong to you, and then act like you had no idea what is going on?
Why were you meeting with Malta officials that were later involved in the murder of a local journalist?
Why does Binance always need fixing when LINK hits ATH? Coincidence?
Why do you organize fake BTC giveaways and do you feel any shame in that?
Why did you delete your old Reddit account?
Why do you constantly delete tweets?
What is wrong with you?
If and when our crypto God provides answers to these questions, the crypto community will forgive him and consider his punishment in an orderly fashion.
Until then, you are nothing more than a lying scumbag that has no dignity and sense of responsibility. Your centralized exchange is the cancer of our community, it is misrepresenting cryptocurrency as a whole and it is a danger for us all.
You have no right to promote Bitcoin as it has nothing to do with your ideals and business model. You are pro-centralization, Bitcoin is something completely different.
Barnum out.
The relationship between Sun and CZ during the Steem takeover seemed a little too cozy. Thanks for walking us through some of the history.
This work could not be done without the information provided by Chico Crypto on his YouTube channel
Be sure to check him out. He is one remarkable man.
awesome post. thank you for that!
Thanks for the support
No Problem. I like what you do.
I delegated a couple of HP to you and hope that you feel good on hive
Many thanks, good sir. I will put it to good use.
The closeness to JS/Tron is the greatest sin 😂
An excellent, well-researched article. Great read. Thank you very much. I had no idea as to the depths of wickedness this young man was involved in.
Thanks for your support. You should know that this is just the tip of the iceberg.
There is a lot of info that can't be accessed publicly so... The rabbit hole may be a lot deeper than we think.
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Legendary research. Thnks! Know now to no longer trust Binance...