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An Open Letter to @binance
Dear Binance Team,
First of all, I want to acknowledge the positive impact you’ve had on the crypto world. Binance helped bring accessibility, liquidity, and exposure to millions of users globally. But with great power comes great responsibility, and it’s time to address the growing disconnect between the crypto dream and the crypto reality.
Crypto started as a cypherpunk vision, a rebellion against centralization, censorship, and control. Today, it feels more like a casino: fast listings, influencer-driven pumps and liquidity extractions. Everyone around me sees crypto as a joke, a gamble, pure chaos. There’s been a clear shift from the cypherpunk ideology that started it all to the digital wilderness that crypto has become today. You’re not the only reason for this shift, but as the largest exchange in the world, you are undeniably one of the strongest forces shaping it.
When Binance lists meme coins with no intrinsic value within days of launch, yet leaves truly decentralized, Proof-of-Work, fair-launched projects like Kaspa out of the equation, it doesn’t just look like market manipulation, it empowers scammers, allowing them to drain liquidity, grow stronger, and repeat the cycle. These aren’t minor side effects, they trigger a cascade of consequences that erode trust and destroy the very essence of what crypto was meant to be.
Kaspa isn’t just another token. It’s a living, breathing evolution of Bitcoin’s original design, fair, decentralized, and fast, without pre-mines or VC injections. It represents the cypherpunk spirit that started this entire movement. Ignoring projects like Kaspa while promoting speculative noise sends a message: that what matters is not what’s built, but what trends.
Crypto doesn’t need more noise. It needs clarity. It needs systems that last.
@hashdag recently wrote about the three faces of crypto: commercial, casino, and cypherpunk. It’s time for Binance to decide which of these it wants to empower. You’ve already mastered the first two, now, it’s time to give back to the third, the one that made all of this possible.
As a leader in the space, Binance holds the power to shape the future of crypto, for better or for worse. I truly hope to see changes that protect the long-term mission of this industry. You can keep feeding the monster that’s been created, or you can choose to restore credibility, innovation, and belief in what crypto was meant to stand for.
Crypto deserves better. Builders deserve better. And you, with all your reach, resources, and influence, can help fix this.
@cz_binance @_RichardTeng
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