Community Buzz: Did BlackRock Play a Role in CZ's Binance Exit?

In the aftermath of CZ’s exit from Binance, a fervent buzz engulfs the cryptocurrency community, echoing suspicions of a grand chess game orchestrated by regulatory forces and financial behemoths.

With the Department of Justice’s sharp scrutiny of Binance’s alleged AML oversights and CZ’s resignation, the landscape of crypto leadership is undergoing seismic shifts.

Speculation amplifies as voices within the community connect the dots, attributing these events to a larger plan—one that could pave the way for institutional giants like BlackRock to wield unprecedented influence.

As sentiments intensify, assertions linking CZ’s departure, the DOJ’s crackdown, and the imminent prospects of a Bitcoin ETF approval loom large, hinting at a meticulously crafted strategy to rearrange the crypto hierarchy.

BlackRock’s alleged hand in CZ’s exit: What’s the community saying?

The community’s speculation ties CZ’s departure to a strategic overhaul in crypto industry leadership. Discussions on CZ’s exit and Binance’s regulatory woes suggest a calculated plan that might empower giants like BlackRock.

A resurfaced tweet by crypto enthusiast Travis Kling, dated June 16, gains traction on X following CZ’s departure from Binance. Kling’s post speculates about BlackRock’s potential influence, noting, “Blackrock more or less IS is the US government. They’ve also received approval on 575/576 of ETF applications.”

He asserts that if Binance maintains its dominance, the ETF won’t gain approval, implying that either Binance disappears entirely or its impact on price discovery significantly diminishes for approval.

“If this ETF is approved, Binance is either gone entirely or their role in price discovery is massively diminished. If Binance holds on to its current level of influence, no chance this ETF is approved.”

Mister Crypto on X (formerly Twitter) points out that CZ’s absence could pave the way for major players like BlackRock, Fidelity, and Invesco to take charge if the SEC greenlights the spot ETF.

“This was the plan for the SEC all alone. Eliminate the number 1 exchange in the industry, and take over the market. Next what will happen is that all these ETFs will launch, and BlackRock also gets in power of Bitcoin. This is how the game is played.”

Aaron and Austin, crypto commentators on YouTube, suggested in a post that the joint ownership of 10% in Coinbase by BlackRock and Vanguard connects to premeditated actions against Binance. They imply a parallel between the orchestrated actions against Binance and the planned spot Bitcoin ETF.

Crypto analyst and educator Duo Nine suggested that the US strategy might have targeted Binance’s downfall to facilitate the launch of the BlackRock Bitcoin ETF unopposed.

“I hear the US plan was to decapitate Binance so they can launch the BlackRock Bitcoin ETF without any big competitor. This way, the US can dictate the price of BTC, no one else. Binance was too big in terms of liquidity & price discovery and was a threat.”

A new era for the crypto industry?

There’s talk swirling around BlackRock, a major financial player, and its possible role in recent crypto events, especially related to Binance and CZ. People wonder about BlackRock’s influence in the crypto world, particularly regarding a spot Bitcoin ETF and how it might have affected what’s happening.

Despite the chaos, optimism lingers in the cryptocurrency market. Some analysts believe that sorting out legal issues and potentially introducing spot ETFs could spark the biggest bull market in crypto history. This change could kickstart a new phase led by big financial names like BlackRock and Vanguard.

The crypto community is witnessing a major shift, with CZ leaving Binance and the market reshaping itself. While the full impact is unclear, these events signal a significant change in crypto, possibly leading to more regulations, involvement from big institutions, and a more mature market overall.

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