Summary
- Changpeng Zhao, founder of Binance, said the digital-asset (cryptocurrency) industry does not need government bailouts.
- He wrote on X (formerly Twitter), “Digital assets have never needed a bailout, and they never will.”
- In a letter, US Senator Elizabeth Warren cited crypto-market volatility and potential risks, saying bailout measures for the digital-asset industry should be blocked.
Changpeng Zhao, founder of Binance, argued that the digital-asset (cryptocurrency) industry does not need government bailouts.
On the 19th (local time), he wrote on X (formerly Twitter), “Digital assets have never needed a bailout, and they never will.”
The remarks are seen as a response to a letter previously sent by US Senator Elizabeth Warren, a prominent crypto critic, to the Treasury Department and the Federal Reserve (Fed), urging that “bailout authority should not be granted to crypto billionaires.”
In the letter, Warren pointed to volatility and potential risks in the crypto market, and said regulators should preemptively block any consideration of bailout measures for the digital-asset industry.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
