Binance Co-Founder CZ Set for Release, what's the market's impact?

[freedomgo]

I came across this article, and it says:

Changpeng Zhao, co-founder of Binance, is set to be released from US custody on Sept. 29, according to the US Federal Bureau of Prisons website.
Zhao is currently serving a four-month sentence and was recently transferred to the Long Beach Residential Reentry Management (RRM) facility in central California.

We all know about the issues surrounding CZ, but for those who haven’t been keeping up, you can check the article for the full details.

So, based on this news, what do you guys think? Will his release affect the market? Do you think we’ll see a market dump or a market pump?

[Hazink]

So, based on this news, what do you guys think? Will his release affect the market? Do you think we’ll see a market dump or a market pump?

Non of the above, I think the market will do just fine even with his release news. If there is anything that is supposed to be affected, it should be the BNB coin, which is the Binance smart chain native token, and also TWT's trust wallet token, which is what has direct connections with him, and Binance, of which he was once the CEO. 
 
As it stands now, he is no longer the head of Binance, and there is little to nothing that he can do with his release news, nor are there any holdings that he will be planning on dumping once he is out of federal custody. 
 
The people will just celebrate his release, that's all, and it will end there. The only time that his case affected the market was due to the panic of the people since many were unsure of what would become of the exchange.

[Charles-Tim]

CZ has never been a reason for me to buy or sell bitcoin. I do not think people will think differently. I do not see anyway that the market price of coins will increase or decrease during his release. If the market increased during the time, I do not think it is because he has been released.

But let me ask you a question. Did the price of cryptocurrencies decreased when he was sent to prison? I do not think so. So why should it be different this time?

[Plaguedeath]

Neither of them since Bitcoin isn't a pump and dump coin.

As it stands now, he is no longer the head of Binance, and there is little to nothing that he can do with his release news, nor are there any holdings that he will be planning on dumping once he is out of federal custody.

That's what the medias and crowd know, but we don't know what's happened behind.

I'd say even CZ is no longer Binance's CEO and he's in jail for 4 months, but my speculation is he still controlling Binance till now. When a multi billionaire in jail, he have a privilege since he can bribe the authority.

[OmegaStarScream]

I don't really see why it would have any impact. Probably not even on the coins backed by Binance, given that CZ is now perma-banned from managing Binance. I'd expect him to just launch another coin/exchange platform and put everything behind him at this point.

[Alpha Marine]

So, based on this news, what do you guys think? Will his release affect the market? Do you think we’ll see a market dump or a market pump?

What impact did his arrest have on Bitcoin? We have to look at that first before we talk about how his release will affect the market. Are there people who'll buy Bitcoin simply because CZ has been released?
During the heat of the Binance and DOJ saga, what I can say that was significantly affected was Binance which is expected because a company in one crisis or the other feel it one way or the other. If I remember correctly, their shares took a hit because investors were uneasy and even BNB dipped, but other than that everything else was good.

CZ is just another millionaire in my opinion. He is not the owner of bitcoin or something so his release won't have that much impact if at all it will have any on the market because I doubt people will all of a sudden start to trust bitcoin again and begin buying just because he has been released neither will start selling simply because he was released.

[Stepstowealth]

So, based on this news, what do you guys think? Will his release affect the market? Do you think we’ll see a market dump or a market pump?

I have the opinion that Bitcoin has matured past the level of its being affected by every single news that comes regarding one very influential person in cryptocurrency or something. Any news or event that will have any major impact on Bitcoin value, it has to be something very critical and major. I do not consider CZ's release to be one of such things anymore. I have even forgotten that he was arrested, that is how unimportant someone can become immediately the leave the spotlight, If you have not made this post about his release, I would never know until maybe the day he is released and I get the update. CZ's release is not something many bitcoin people are looking forward to even though we do not wish him bad.

[Rikafip]

So, based on this news, what do you guys think? Will his release affect the market? Do you think we’ll see a market dump or a market pump?

I honestly don't see why his release from prison would cause any change in the market, whether a pump or a dump.

He’s prohibited from having any role at Binance, and even if that weren’t the case, I don't believe he's significant enough to influence any market movement. Some years ago that maybe woulnd't be the case, but market is more mature now.

[EarnOnVictor]

-snip-
So, based on this news, what do you guys think? Will his release affect the market? Do you think we’ll see a market dump or a market pump?

This news is entirely irrelevant to the market, will his release bring more liquidity to the crypto market? Certainly not, and so is the market reaction.

Besides, Binance is doing well without him and this current CEO has already added new features and upgrades to the exchange, and also more reliance to his name. I wonder what the market was missing when CZ was in custody that will now make it get excited for his release. The market doesn't work that way but I congratulate him for the news and I urge him to shun fraud and other illegal schemes upon release, otherwise, the next sentencing may be more than a decade.

[OgNasty]

My opinion is in line with others from this thread. I don’t think CZ being released from jail is a market moving piece of news. Maybe you’ll see a momentary blip where he gets his assets back where he wants them now that he is free, but as far as I know he isn’t still running anything and won’t have any impact on the price of Bitcoin.

[Wiwo]

I came across this article, and it says:

Changpeng Zhao, co-founder of Binance, is set to be released from US custody on Sept. 29, according to the US Federal Bureau of Prisons website.
Zhao is currently serving a four-month sentence and was recently transferred to the Long Beach Residential Reentry Management (RRM) facility in central California.

We all know about the issues surrounding CZ, but for those who haven’t been keeping up, you can check the article for the full details.

So, based on this news, what do you guys think? Will his release affect the market? Do you think we’ll see a market dump or a market pump?

The point we should note is that, CZ is different from Binance, because while CZ is just an individual schedule with the responsibility to head Binance at some point, Binance on the other hand is the cryptocurrency exchange, so let me tell the difference now.

While CZ is just an ordinary Person who's activities can not impact the bitcoin market or even the entire cryptocurrency market.

Binance on the other hand have a direct relationship with the market and whatever happens to the exchange affects the market directly, but same can't be said about CZ, so while his release may not mean anything the the crypto ecosystem, since his locked up, nothing changed either.

[Upgrade00]

If there's one trend I hope will go away, it's the one where people keep speculating on what events will have an impact on the price and give significance to events or people that do not have an influence.

CZ arrest had not impact on the price, he has already stepped back from the BNB project and the exchange, so his release will have no price impact either.

[Sayeds56]

I came across this article, and it says:

Changpeng Zhao, co-founder of Binance, is set to be released from US custody on Sept. 29, according to the US Federal Bureau of Prisons website.
Zhao is currently serving a four-month sentence and was recently transferred to the Long Beach Residential Reentry Management (RRM) facility in central California.

We all know about the issues surrounding CZ, but for those who haven’t been keeping up, you can check the article for the full details.

So, based on this news, what do you guys think? Will his release affect the market? Do you think we’ll see a market dump or a market pump?

I believe that CZ (the former CEO of Binance) has made significant contribution to the development and innovation of cryptocurrencies landscape, in particular, building the world's largest crypto exchange. His imprisonment was viewed as an unfortunate event, which created negative sentiment surrounding crypto space. His release from prison in my opinion may have positive impact on Bitcoin price and overall the cryptocurrencies market.

[Gladitorcomeback]

His release will not have any impact on the market because he was in charge of the world's largest cryptocurrency exchange before but that isn't the case anymore. Did his imprisonment disturb Binance's services for its customers? No. Was the market impacted when he was imprisoned? No, even if it was, it wasn't a noticeable impact. So I don't think anything is going to happen. Things would have been different if Binance was shut down, then he was imprisoned, and when he was going to be released, people would think he is going to start something new like Binance again, but things are different right now.

Even if he decides to start another project of himself complying with all the rules and regulations, that is going to take time for him and his project to reach a good height because people are already pretty much satisfied with Binance and its services and there are other good exchanges around the industry as well.

[ImThour]

In the factual terms, there is no market impact CZ can do (it's not like he buys Bitcoin, or something) it's just that the market sentiment will be bullish, which makes others keep on buying and keeping the selling pressure lower. If that to be considered, then yes, CZ's release from Jail this month will surely impact the market. It's kind of a in-direct impact.

[Hyphen(-)]

So, based on this news, what do you guys think? Will his release affect the market? Do you think we’ll see a market dump or a market pump?

The crypto market will not be moved by his release; maybe the BNB price will rise, which I think will not be, on the other hand, because he has already resigned as the Binance CEO before being jailed.
To me, CZ is just a normal crypto influencer and investor who has invested in several projects. The crypto space is bigger than what we expected, and I don't think any small news will move the market right now.
I am putting him (CZ) and Durov in the same shoes, their release will have nothing to do with the crypto market.

[Hamza2424]

I think this news is good enough to cross the $100k haha (Just kidding), there are countless influential people in the crypto market, and giving some respect to the top ones there are hundreds of individuals who are quite active in crypto community and their words somehow influence the market emotions but just for the shortest interval of time like the blink of eye in a long term investors perspective.

So being factual let see what can be the impact of past events, when CZ got arrested and taken into custody for 4 months the market was around 68k and if we go back in a few days it was the peak time of the market and after that time for an entire month market was trading between a range of 65k to 70k and even between that news on 30 and 31st I'm not sure market broke 70k and tested top resistance level again. which indicates there was not such a great impact of his arrest news in the market. I know news can influence emotions and make a greater change in the demand and supply with volume spikes in market and cause volatility but in the end it's all temporary.

But this news is not strong enough to trigger any kind of emotion, Yup there's an exception for Satoshi Nakamoto if he reveals himself and says a few words it is gonna hit hard and can influence emotions in both directions depending on how he wants.

[Baofeng]

I came across this article, and it says:

Changpeng Zhao, co-founder of Binance, is set to be released from US custody on Sept. 29, according to the US Federal Bureau of Prisons website.
Zhao is currently serving a four-month sentence and was recently transferred to the Long Beach Residential Reentry Management (RRM) facility in central California.

We all know about the issues surrounding CZ, but for those who haven’t been keeping up, you can check the article for the full details.

So, based on this news, what do you guys think? Will his release affect the market? Do you think we’ll see a market dump or a market pump?

Good to hear that CZ will finally released from US custody.

However, I do not think that it will create ripple to the already volatile market, when the news of his arrest and subsequent prison sentences, there's not much on a impact on the market. So it could be the same when he is going to be out.

The thing though is that there could be someone who might want to manipulate the market with this news, so we should really be careful specially since the market has somewhat been in a bull trap lately, (reaching $60k, then followed by a "correction").

[348Judah]

If they release him or not, that has nothing to do with the market price, people are not adopting bitcoin in cryptocurrency because of a single personality or an exchange, they are doing so because they understand the uniqueness in adopting for bitcoin as their preferred currency, as for me, i don't expect to see any changes that much on the market price if he was being released, i don't think the market dips or rises when he first got sentenced as well.

[Wonder Work]

So, based on this news, what do you guys think? Will his release affect the market? Do you think we’ll see a market dump or a market pump?

Personally I'd say I didn't see any change in the market when he was jailed. Taking him to prison and releasing him from prison will have no effect on the market because there is nothing about him to affect the market.

But let me ask you a question. Did the price of cryptocurrencies decreased when he was sent to prison? I do not think so. So why should it be different this time?

I don't think he noticed that the market had changed at all when he was sent to prison. Leaving him will not change the market. There is no reason for cryptocurrency prices to go up or down between him being sent to jail or released. How is it possible that if someone who has nothing to do with BTC or trading is sent to prison and brought out, there will be no change.

By the way i have a question how do u think releasing someone who had good cause when sent to prison knowing that nothing has changed will change anything? If u have seen the cryptocurrency market at the time he was sent to prison, then naturally this question is not about the place inside you.