Binance’s Changpeng Zhao has received more than his fair share of criticism since Binance’s 2017 launch. As a high-profile crypto figure and the CEO of one of the sector’s largest companies, that is to be expected. But the denunciation leveled at him after the anonymous Chef Nomi’s SushiSwap sell-off scandal has been unwarranted.
Few things are more antithetical to the ethos of decentralized finance than having a single figure being the arbiter of the quality or viability of a project. If crypto and decentralized finance are borne of the desire to democratize financial markets and liberate the public from the centralized banking sector, the responsibility for determining the value of a project must be placed in the hands of the community. Anything less runs entirely counter to the crypto imperative.
We wouldn’t want CZ to determine those projects that capture the hearts and minds of the public just like we don’t want the same from institutions like central banks