Panda Power

The author argues that Changpeng Zhao's punishment by US authorities was arbitrary and that crypto is a transformative financial system, and predicts that a US-China thaw will fuel a crypto bull market. Binance grew from 2017 to become the largest centralised crypto trading venue, and CZ paid a $4.3 billion corporate fine, which the author calls absurd given the lack of prosecutions of bank executives. The author contends that the reset between Xi Jinping and Joe Biden at the APEC summit in San Francisco could reduce risks in Ukraine, Israel and Taiwan, keeping oil prices low and enabling more Chinese money printing.