Freedom. This is a word that Humanity has elevated to the status of a totem for centuries. Freedom to think, act, trade. But in the age of digital platforms, its definition wavers. For Changpeng Zhao, known as CZ, one cannot speak of financial freedom without free speech. This belief led him to invest $500 million in X, formerly Twitter, in the name of a freer Web3... at least in form.
CZ: A Crusade for Freedom... With Transformational Geometry
On the stage of the Token2049 conference in Dubai, CZ did not hesitate to state:
To gain freedom of money, you must have freedom of speech. Without it, no other freedoms can operate.
He cites this doctrine to justify his massive investment in X. Officially, this is not a game in the stock market but a proactive action.
This project seems almost like a savior. In his eyes, Twitter—renamed X—would be the last bastion of a free digital space, as long as it is modernized.
Binance promised as early as 2022 to help X integrate Web3, combat bots, and implement cryptocurrency payments. In other words, providing Musk with a toolbox compatible with cryptocurrency.
But what about the reality? This platform continues to be flooded with fake accounts, mass scams, and unwanted spam. CZ publicly complained—he even begged Musk to ban the bots—but his dream of digital freedom seems currently stuck in the web of capitalism driven by attention.
A Commitment to Ideology or a Covert Lobbying Activity?
The former CEO of Binance does not hide his discomfort with the European bureaucracy. He bluntly states that 'Europe's cryptocurrency policies were dead on arrival.' According to him, this region prefers regulation over innovation. In contrast, he cites the United Arab Emirates as a model, where business and innovation seem to go hand in hand.
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His criticisms align with a smoothly operated strategy. Describing the West as timid, controlling the narrative by positioning himself as a guardian of freedom and pushing countries to adopt more favorable positions for the cryptocurrency industry. Nothing new. Except this time, CZ no longer holds his position: in 2024, he pleaded guilty to money laundering before serving a four-month prison sentence.
Since then, he has introduced himself as a strategic advisor, particularly for the Pakistan cryptocurrency council and as an educator through his platform 'Giggle Academy'.
But can we really believe that a former centralized exchange mogul suddenly became a philosopher of free speech overnight? His statement: 'We believe in strong entrepreneurs, strong foundations, free speech...' sounds more like an investor's pitch than an altruistic commitment.
Web3 Is Good... As Long As You Control the Narrative
The paradox remains intact. CZ criticizes censorship but wants to ban bots. He advocates decentralization but remains an influential shareholder of a centralized platform. He champions transparency, yet his judicial past tarnishes his credibility. And he dreams of an educational Web3, without ever mentioning what will happen to the personal data of children trained through Giggle Academy.
This hybrid viewpoint, between ethics and pragmatism, reflects the spirit of the cryptocurrency era: ideals recycled into marketing strategies. Surely, CZ is not alone. Musk also uses free speech at his whim. But linking 'currency freedom' and 'free speech' as two interchangeable absolute concepts is contentious.
In reality, X has not revolutionized its model. Web3 integration is still in its infancy. Payment with bitcoin and other cryptocurrencies is still absent. And Binance's promises—such as establishing a specialized anti-fraud team on-chain—are struggling to become a reality.
Europe hesitates while other countries build. Their habit of regulating everything prevents them from truly innovating. They frame while others experiment. And while CZ dreams of a liberated Internet, X, the platform he supports, faces a very real enemy: an invasion of bots. A serious issue to the extent that CZ has publicly called for Elon Musk to end it.
