The next episode of the war in the past two days, the crypto exchange giant Binance and one of the most influential media in the industry could be written in court.
Changpeng Zhao, aka “CZ” indeed accuses The Block of spreading fake news about a hypothetical raid by Chinese police, in even more hypothetical offices, that Binance claims not to have.
Mike Dudas, the boss of The Block, calls for press freedom. He is also alarmed by the will of CZ, supported by his Very Best Friend Justin SUN (CEO of TRON) of the establishment of an “Anti-FUD Fund” described by Dudas as a dangerous tool, put between hands of the most powerful players in the industry.
The attack on the ghost offices
Two days ago, the small world of crypto held its breath as the news that just fell is likely to react to the most jaded: the Chinese locals of Binance – and more precisely those of Shanghai – have just been raided by Chinese police! The information is reported by the reference crypto media The Block and the story seems solid, as China plays a funny game on the subject these days.
The Battle of Twitter
Conjunction of broader circumstances or cause and effect syndrome (which gives food for thought on the impact that a single actor is able to generate on the entire sector, but this is another subject), the markets are panicking and seeing red.
Ensues a day of pitched battle by social networks interposed, on the one hand Binance which objects NOT have an office in Shanghai and whose Chinese employees work remotely (thus making it unlikely to go down to non-existent premises), and The Block which remains firm on its positions, relying on internal testimony at Binance and objecting to being presented with photos of said premises by exchange officials.
Rapid escalation and trial in sight
Exchanging pleasantries, taking positions that radicalize over the hours, innuendo of conspiracies… the great classics of a debate on the Internet, even if no one will come to call the other a Nazi, thus avoiding the validation of ” a masterful Godwin point (but the protagonists hardly heat up, all hopes are therefore still allowed).
We note, however, a slight reverse pedaling of The Block, which if it continues to act in good faith, will modify somewhat the title of its article (going from “police raid” to “Visit of authorities”).
The day after writing this new and glorious page in the history of the crypto sector, the boss of Binance decided to take the next level: he now threatens The Block with lawsuits!
And Justice for All
CZ had initially excluded this perspective at first, but it seems the messages of Mike Dudas, the boss of The Block, who came to defend the quality of his work, and to insist that Binance was playing a funny game, who set fire to the powder
“We will pursue them”. CZ, which we have known less terse, concerning the aftermath of the Ghost Offices case.
No doubt it will please The Block team and Mike Dudas. If the exercise is never pleasant, at least the opportunity will be given to lay down the arguments of each other. However, what will make the founder of The Block see red is the will displayed by CZ, quickly followed (to change) by Justin SUN of TRON, to create and feed a “Anti-FUD Fund” which would, roughly, thwart the awful journalists who spread Fakes News that hurt the industry.
CZ announces that it wants to add this fund to 100 BTC, and SUN will quickly indicate that it will double the bet, bringing this “Fund” to a total of 200 BTC (near’1.4 million dollars, even in this dark period). It is too much for Mike Dudas who sees in this step an unbearable attack on the Freedom to inform and still a little more power granted to already omnipotent giants:
“So two of the wealthiest men in crypto are planning to raise a” FUD-fighting fund “worth more than a million dollars, presumably to implicitly threaten journalists who report the facts. against their commercial interests. “ Mike Dudas, founder of The Block
“We must fight the FUD by all means, including the most partisan” on my right, “Freedom and inalienable right to inform, even if it means crashing” on my left … The fight between a giant of the crypto-economy and one of the most popular media outlets may just be getting started. And the underlying issues will in reality be much broader than an ordinary story of wandering offices.
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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