CZ binance steps down: does it affect crypto adoption?
Little did we know, for any action there's an opposite reaction involved, does this also apply to investment either long or short term? My years in the crypto space I've witnessed lots of speculative predictions and uncertainties of things that will befall the crypto space long or short term what I've come to always realise in crypto space is, there will be a continuous process of criticism either long/short term, we've all had it when China were all over crypto ban, high energy usage accompanied with regulatory policies introduced to track all on chain activities of users transactions.
Nothing thrives without criticism which makes this aspect a boosting factor for adoption, secondly regulation isn't a bad idea but how it's been enforced could entail if the regulators are willing to adopt the new technology with a welcoming open arm, we have seen how it's has gradually been unfolding amongst the crypto communities and the centralized authorities after a long year of deliberating into crypto and it usecase we can still affirm the regulatory bodies are not satisfied into accepting the thriving technology to explore it unlimited boundaries of broading it wings of mass adoption to the entire world there are limitations and setbacks still holding the crypto space back which mostly falls under the regulatory framework statutory, we can't be going into detail of every past regulatory file cases in the crypto space but we can draw some conclusion about both parties (centralized) not agreeing on a common basis of what decentralization is here to offer.
Crypto market last week had a quick pullback on the sudden announcement of binance CEO Changpeng Zhao stepping down as one of the biggest exchange CEO in crypto industry this major news for most crypto enthusiast came as a surprise while for some it was one of the exceptional bold step taken by the former CEO to step down there are no two ways about it we all at some point did not see this coming.
This recent news leaves even experts and newbies in the crypto space to question what does the future hold? Are we about to witness another FTX collapse? Will binance thrive without it former CEO? Although blockchain wasn't built on the foundation to rely on centralized exchanges for majority of their monetization activities which wasn't the ideal idea behind decentralization could this be signifying a sudden interest in building more decentralized exchanges?
Adoption is everything!
Without adoption I wouldn't have been here writing about crypto, I picked interest in this emerging technology because someone somewhere wrote an article about crypto space years ago which I read and became curious about the space.
In essence adoption brings people from diverse backgrounds together into crypto, if Satoshi Nakanoto never shared bitcoin whitepaper we'd probably not be taking about bitcoin or blockchain technology now for crypto space to grow either exponentially or on a base level it need adoption of new users every day, if no one at some point cares about this technology then it's fall will be eminent.
There can't be adoption without information now people get information either on a positive or negative level how this information gets to us will determine our interest or curiosity.
For some newbies crypto is all a wash bubble while for others it's the future, it all depends on which of this information gets to the new user first.
CZ and adoption
Well it's no new for those who have been here for long every positive or negative news sends a ripple to the crypto market either up or down trend this are actually what makes the market fun.
The question now is what does a newbie looking to join the crypto space think of this space when they see this news?
Well if they'd be willing to join the crypto space on the day binance CEO announce pleading guilty I'm sure they'd give it a second thought of joining another day.
This actually means everytime a newbie is willing to join the crypto space as a beginner a sudden negative news could probably shy such newbie away.
This could be a hypothetical analysis but at some points it's also true since such newbie isn't sure about crypto and regulatory policies they'd rather stay away and probably comeback when things have cool off.
Every action could have reaction, in terms of crypto adoption every major negative news could send a ripple negative message about the crypto space to a newbie with no guide willing to join the space.