Crypto Tragedy: Money Can't Buy Power—The World Is a Sham Stage Operated by Hype, Trap, and Slaughter
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Crypto Tragedy: Money Can't Buy Power—The World Is a Sham Stage Operated by Hype, Trap, and Slaughter
Don't let crypto become an island.
Navigating Web3 tides with focused insightsAuthor: Ken, TechFlow
Recently, the biggest headline shaking the crypto market has been none other than the predicament of Binance founder CZ.
On Tuesday (April 23), U.S. prosecutors filed a court document stating that they believe Zhao Changpeng should be sentenced to 36 months in prison—a punishment far exceeding expectations—despite Binance having already agreed to pay $4.32 billion in criminal penalties.
They hold the knife; we are the fish on the chopping block.
The moment CZ stepped onto American soil, he may have already become a new pool for the U.S. government—Staking CZ To Earn.
The world is nothing but a makeshift stage where players are raised, trapped, and slaughtered.
Many have drawn parallels with TikTok and Huawei, though both may actually be in far better positions.
TikTok always had the option to fight or retreat, and possessed legal tools to push back. It even successfully mobilized public pressure by urging users to call U.S. officials. As for Huawei, it has evolved into a patriotic meme, backed symbolically by a nation and its people. When Meng Wanzhou was detained, she never lacked state-backed support and rescue efforts.
But what about Binance and CZ? All they can do is admit fault and take their beating. Although many in the crypto community sympathize with CZ, in the broader public discourse, most react with schadenfreude and mockery. When capitalists get hanged from lampposts, people cheer—and especially so when it's a crypto capitalist.
This reflects a deeper issue facing the entire crypto world: the crypto industry has money but no power, lacking social status and recognition.
A so-called leader in the crypto space trembles before local police from any county-level jurisdiction.
Many financially independent crypto millionaires choose to open secondary fronts, acquiring prestigious social titles in pursuit of respect and societal recognition.
Much like the Dark Forest theory in "The Three-Body Problem," those who've made fortunes in crypto often conceal their wealth and identities. Once exposed, trouble inevitably follows. Everyone deeply understands that famous saying: "Stay silent and get rich—that’s the best way."
From the perspective of regulators worldwide, crypto might be the ideal "regulatory target": wealthy, extracting vast sums from global markets; generating little local employment or tax revenue; facing no resistance from other sectors of society; and disconnected from real-world systems, thus encountering minimal public backlash... Crypto has become a sacrificial lamb across the globe.
Looking back at business history—whether manufacturing, real estate, banking, or internet giants like Google, Meta, Tencent, or Alibaba—they’ve all gradually evolved into societal infrastructure, forming deep mutual interests with nations, societies, and people.
TOO BIG TO FAIL—that’s their底气 (confidence).
The crypto world lacks this confidence. The disappearance of an exchange or a crypto project won’t cause significant direct damage to governments or society, nor will it make much of a splash publicly.
So what can be done?
At its root, crypto needs to prove its positive externalities—its ability to generate value and benefit society.
Although this remains largely theoretical today, with long-awaited "mass adoption" still absent—replaced instead by waves of memes and rampant shitcoins.
Aside from top-tier assets like BTC, ETH, SOL, and BNB whose value is relatively recognized, most other crypto assets still need to demonstrate their long-term worth.
Currently, the sector most capable of creating external value and bridging the real world remains stablecoins—the few true killer applications in crypto.
Moreover, nothing comes for free. Power arises from struggle. The U.S. SEC approved spot Bitcoin ETFs only after losing lawsuits. We should advocate for and support more such upward resistance—but only within the United States.
We must salute organizations like Coinbase, Grayscale, Paradigm, and a16z that actively engage in litigation and lobbying for crypto. Only when U.S. regulations become clearer and smoother can the global path for crypto become easier.
Finally, if we compare crypto to religion, just as religions historically expanded through alliances with monarchs, crypto needs to preach more to those in power—just as we once evangelized Musk, Larry Fink (founder of BlackRock), and Nayib Bukele (President of El Salvador)... Don’t let crypto remain an isolated island.
As Lu Xun supposedly said, "There was no faith in this world to begin with, but when enough people believe, faith emerges."
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