Arthur Hayes Criticizes U.S. Treatment of CZ and Binance as 'Absurd'
Former BitMEX CEO Arthur Hayes argues that Binance and its founder Changpeng "CZ" Zhao have been treated unfairly in the US due to their threat to the traditional global financial system. Hayes points out the discrepancy in penalties between Binance and large traditional financial institutions, highlighting the arbitrary nature of punishment. He believes that the treatment of Binance and CZ reflects resistance against decentralization and the blockchain revolution, which challenge state power. Hayes himself has experienced state prosecution and argues that the intermediaries of the blockchain revolution are not run by the established financial and political class.