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Arthur Hayes: The United States’ handling of CZ and Binance is ridiculous. Cryptocurrency is one of the most important developments in the history of human civilization.

BitMEX co-founder Arthur Hayes wrote that the US government's treatment of CZ and Binance is absurd, highlighting the arbitrariness of national punishment. This absurd phenomenon tells us that cryptocurrency is one of the most important political, financial, and technological developments in human civilization history. It has such a powerful transformative power that in less than a decade, CZ can become one of the richest people in the world, and Binance can be more necessary for daily life than famous financial institutions that have existed for centuries. Hayes also said that since the US dollar is the largest financing currency in the world, if the credit price falls, all fixed supply assets such as Bitcoin and gold will rise in US dollar legal price. An important part of this bullish macro support is that it does not require Chinese companies and high net worth individuals to buy any Bitcoin. The interchangeability of global legal credit will determine the marginal legal dollar flowing into hard currency assets such as Bitcoin.

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