Binance Founder Zhao Changpeng: Cryptocurrency Should Focus on 'Moral Projects' and Long-term Value, Not Short-term Greedy Speculation!
Former CEO of Binance, Zhao Changpeng (CZ), recently spoke out on X, criticizing the prevalent 'quick profit' mentality in the current cryptocurrency market. He pointed out that many investors and developers are overly focused on short-term gains, especially in the speculative hype surrounding meme coins. This model is not only unsustainable but also susceptible to market manipulation and macroeconomic fluctuations.
CZ called on cryptocurrency development teams to focus on creating 'moral projects' and to look towards long-term development rather than short-term windfalls. He also emphasized that true wealth accumulation is achieved gradually, not through overnight success. He warned that excessive hype could lead to a flood of low-quality projects, ultimately causing a market collapse and leaving ordinary investors at a loss.
CZ particularly criticized traders who focus on small, quick gains, especially those who prefer short-term investment strategies and are keen on hyping meme coin projects. He stressed that while this strategy may bring short-term profits, it is unsustainable in the long run as these projects often lack real value and are easily manipulated by the market.
He also emphasized that the excessive pursuit of short-term returns would hinder true innovation in blockchain technology. If developers' motivations are solely for speculation rather than real use cases, the cryptocurrency industry will struggle to achieve long-term sustainable development.
However, despite the market being filled with speculative sentiments, there are still views that projects like Bitcoin, Ethereum, and Cardano remain trustworthy. This is because these projects have withstood market tests and have long focused on technological innovation and real use cases rather than short-term price fluctuations.
In summary, CZ's remarks reflect a potential trend in the cryptocurrency industry, where there should be a shift from short-term speculation to focusing on practical applications. At the same time, only by concentrating on long-term development and technological innovation can cryptocurrencies truly create value for society, rather than becoming mere speculative tools.
💬 Do you agree with CZ's criticism of the 'quick profit' mentality? How do you think investors should balance short-term gains with long-term development in the cryptocurrency market?
