Are there any factual assertions that you disagree with in the piece? Otherwise this seems to be more anti-Binance than crypto itself (although the author's viewpoint on crypto is clear).
I am extremely deep in this space since nearly the beginning. My take on Binance is it started like many YOLO exchanges back in the 2017 boom but pioneered the exchange token model. They had very good customer service and onboarded nearly everyone. The model was FAFO with the understanding they would pay a fine later.
If the US government had the nuts they would have shut it down. They didn’t, and CZ probably won’t get any jail just like Bitmex’s Arthur Hayes. If they do put him in jail it’s a pittance vs. his massive equity stake and wealth.
As an addendum, the Tether Truthers assumed that when the US government was done sifting through their subpoenas, the Truth about Tether would be revealed and it would collapse. Just like with the NY AG, didn’t happen won’t happen - Tether is backed at this point after 8 quarters of high interest rates.
I was way, way more worried about crypto 2 years ago than I am now. The bad actors are being shaken out, the SEC mostly lost vs. Ripple, and the US and the world itself is yo-yoing back to conservative government after a period of progressive governments. All of this bodes well for crypto and its anti-state ethos.
