Recently, the US president, Donald Trump made a controversial statement on Cryptocurrency. He stated, “He is not a bitcoin fan”. Following, many crypto influencers like John McAfee, Anthony Pompliano, Justin Sun and many others shared their strong reactions.
The crypto industry doesn’t seem to stop the discussions. Recently the CEO of the leading cryptocurrency exchange Binance, Changpeng Zhao, expressed his view on Trump’s tweets on Bitcoin and cryptocurrencies
During the recent interview with CNBC, Changpeng Zhao popularly known as CZ claimed that criticism of the US president, Donald Trump about cryptocurrency may be useful for the industry.
CZ said that :
Till date Trump has not done anything positive or negative, he just said he’s not a bitcoin fan. The fact that he tweeted about it, and the president of the United States is talking about cryptocurrency, it’s a good thing.
CZ also highlighted the worst-case situation, if the U.S. made it illegal to own cryptocurrency it wouldn’t shatter the industry.
Further, he added :
“Cryptocurrency will survive regardless of any one country. Most countries that try to ban bitcoin cause their citizens to want cryptocurrency more.”
He also described the recent unfortunate incident of the binance hack. In May 2019, hackers attacked Binance and took away about 7,000 BTC. Further, the exchange assured users saying their funds won’t be affected and the attack would be completely covered.
He also added that :
“Banks are hacked but they’re not transparent with the numbers. You see billions of dollars in fines for banks. Whereas, with cryptocurrency, there’s more transparency, which is actually good for the users because now they know what’s going on.”
Although, after Trump’s remark on Cryptocurrency, the crypto market showcased a major bearish moment. Few Crypto Analysts and experts said investors not to panic and asked them to ignore the temporary fluctuations.
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