# The 12th DC Blockchain Summit: A Heavyweight Remote Dialogue with CZ @cz_binance

A major remote dialogue at the 12th DC Blockchain Summit (DC Blockchain Summit) – our big brother CZ @cz_binance is here!

To make it easier for everyone to read, I've distilled the core points from this dialogue. Every sentence is a key takeaway. I hope this can provide some reference and answer some questions for you. Read on:

CZ discussed the industry's past and personal experiences at the conference, and also directly addressed recent litigation controversies and his views on the market.

## 1. Twelve Years of Crypto: From Niche Community to Mainstream Recognition

CZ reviewed the industry's development over more than a decade based on his personal experience, with particularly deep insights.

Back in 2013-2014, during the industry's early stages, crypto-related conferences had only around 200 attendees – an absolute niche community. At that time, Vitalik was only 19 years old and just beginning to share Ethereum's vision. Today, Ethereum has grown into a core asset with a market cap exceeding 100 billion, and the industry's scale has changed dramatically.

Looking back at the entire development phase:
- The first five years were basically ignored by the outside world, with no attention;
- The next five years faced resistance from multiple directions and opposition from various forces;
- Now crypto has gradually gained mainstream acceptance, with continuous regulatory clarity from the U.S. authorities, accelerating institutional capital inflows, completely shedding its early peripheral status, and making substantial strides through roller-coaster-like fluctuations.

## 2. Personal Memoir: Written for Myself and to Encourage Young Entrepreneurs

CZ mentioned that his memoir will be released within a few weeks. This book was written during a special period, with two initial intentions: to pass the time and enrich himself, and to review his life journey.

Big brother was candid that he's just an ordinary person who grew up in a rural village in China, working at McDonald's at age 14 earning just 4.5 Canadian dollars per hour. From humble origins, he built a globally leading crypto tech enterprise step by step. The journey involved luck, but more importantly, long-term effort.

The core purpose of writing this book has two aspects:
- To help the public better understand the real him and break through external misconceptions;
- To give young entrepreneurs courage and practical advice, conveying the belief that "ordinary people can change their circumstances through effort." He always believed that what he could achieve, other entrepreneurs also have the opportunity to accomplish.

## 3. Facing Media Misunderstandings: Focus on Technology, Believe Truth Will Surface

Regarding negative reports from the outside world and traditional media, big brother also responded.

He stated that media discourse is polarized, noting that he's usually more active on social platforms with minimal contact with traditional media – a partial reason for some misunderstandings.

Some traditional media outlets have long deliberately published negative content and even fabricated false information, either deliberately exaggerating his wealth figures or smearing compliance-related matters. Behind some negative narratives lie interests from industry competition and lobbying by traditional finance industries.

CZ @cz_binance was candid that he doesn't understand media operations and doesn't involve himself in American politics – he simply focuses on crypto technology itself. He believes this technology possesses revolutionary significance and fundamental value. Regarding unfounded accusations, he won't dwell on them too much, always trusting that the truth will ultimately surface.

## 4. Latest Legal Developments: U.S. Federal Courts Dismiss Related Lawsuits

Regarding recent related dispute cases, CZ revealed key judicial progress: Within the past two weeks, two U.S. federal courts have formally dismissed related lawsuits against him personally and Binance. The judges clearly ruled that the lengthy accusatory documents lack substantive evidence and cannot stand.

However, he also lamented that mainstream media provided zero coverage of this judicial victory, deliberately amplifying negative narratives. Many members of the public who only follow traditional media find it difficult to understand the full truth of the matter – a current dilemma the industry faces with public opinion.

## 5. Recommendations for America's Crypto Industry: Strengthen Competition, Retain Liquidity

Regarding America's goal of building a global crypto center, CZ also provided practical recommendations, affirming the current U.S. government's pro-crypto policies, which exceeded expectations. Crypto entrepreneurs and industry talent previously squeezed out of America are now gradually returning.

America itself possesses the talent, capital, and industrial base of Silicon Valley and Wall Street – obvious advantages. To maintain the position as the global crypto center, the core shortfall to address is market competition:

Currently, American crypto exchange trading fees are too high, with user costs far exceeding international markets, and global core crypto liquidity doesn't reside in America – completely opposite to the liquidity landscape of traditional financial markets.

He emphasized that free competition is the best way to protect users. Only by opening up market competition and reducing transaction costs can America pull back global liquidity and truly consolidate its position as the crypto center.

## 6. Personal Status: No Longer Managing Binance, Focus on Supporting Entrepreneurs

Big brother finally mentioned his current status. He no longer handles Binance's daily operations. Currently, his main energy is focused on investing and mentoring young entrepreneurs, providing capital support and sharing experience to help more newcomers in the industry grow, continuing to drive the overall development of the crypto industry!

That's all from big brother's conference – thanks for reading!

#DCBlockchain