TechFlow news, July 17 — Former Binance CEO Changpeng Zhao (CZ) pushed back against comments made by U.S. Senator Elizabeth Warren on social media. Warren had previously warned that cryptocurrencies could "destroy" the U.S. economy and claimed that publicly traded companies on the New York Stock Exchange (NYSE) could evade SEC oversight through digital means, arguing that if companies like Amazon, Meta, or General Motors chose to exit, it would severely damage the NYSE's value.
CZ questioned Warren's logic of restricting U.S. companies in an effort to "protect the U.S. economy," pointing out that the NYSE is merely a company fully owned by ICE with a market capitalization of about $100 billion, whereas Amazon's market cap has already reached $2.40 trillion. He emphasized: "The NYSE does not equal the economy. All companies together constitute the economy."
