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The recent decision by CZ, the former CEO of Binance, to step down has caused a stir in the crypto community. This move has sparked fear, uncertainty, and doubt (FUD) among industry participants. However, CZ has received significant support from various platforms, highlighting the growth and evolution of the crypto industry. Binance’s new CEO, Richard Teng, has expressed his commitment to ensuring the company’s long-term success. He emphasizes the importance of collaborating with regulators and other stakeholders to promote the expansion and adoption of web3 technologies. Some industry analysts speculate that CZ’s resignation and assumption of legal responsibility could be a strategic maneuver to facilitate the development of a more regulated and mature cryptocurrency market in the United States. There are also rumors of BlackRock, a major financial institution, potentially influencing the events surrounding Binance and CZ, particularly in relation to a Bitcoin ETF. Despite the upheaval, there is optimism about the future of the cryptocurrency market. Resolving legal issues and the potential introduction of ETFs could lead to a significant bull market in crypto. This period of transformation may usher in a new era dominated by major financial institutions like BlackRock and Vanguard. The departure of Binance’s CEO and the reshaping of the market landscape mark a pivotal moment for the crypto community. Binance, with its significant influence, is seen as potentially facing widespread repercussions if it were to collapse. Reports suggest that Binance staff are preparing for potential criminal charges against the company, creating an atmosphere of concern and anxiety among employees. Former SEC chief John Reed Stark raises concerns about Binance’s ability to withstand extensive monitoring provisions and questions the sustainability of its business relationships. The recent developments have also had an impact on Binance’s native crypto, BNB Coin, which has experienced a significant decline in value. The exchange has witnessed a substantial outflow of $1 billion within 24 hours.