We thought he was weakened, finished after his ouster from the head of Binance. And yet, CZ holds on. He promised to get used to his new situation knowing thathe is ” mentally stable “. Recently, he surprised more than one member of the Twittersphere with a publication announcing a crypto biotechnology financing project.
CZ wants to expand the reach of cryptos
We may have recently witnessed a near decapitation of Binance, but the beast is not dead yet. Certainly, the crypto company’s treasury has suffered from the latest attack from the Justice and US Treasury departments, but the adventure is not yet over for its 150 million users.
“ I’ve been reading about biotechnology and thinking about how to use cryptocurrencies to accelerate financing research in this area.
Keep building! »
CZ, who was ousted from Binance after pleading guilty of money laundering, was able to avoid prison. Lucky or cunning? Never mind. But he did not know the same fate as the other “crypto bros” like Alex Mashinsky of Celsius Network (CEL) or Sam Bankman-Fried of FTX (FTT).
After leaving Binance, Changpeng Zhao had to keep busy in other ways. We can deduce from this tweet that he devotes himself to reading articles on biotechnology. And perhaps on other themes too. And this inspired him with the idea of combining crypto with biotech.
Etica, a crypto project focused on open source medical research without intellectual property, welcomed CZ’s idea. Here is his comment:
“ We are happy to see that others in the cryptocurrency industry are starting to make the connection with biotechnology, research and DeSci more broadly. At Etica, we are committed to putting medical research funding in people’s hands. By supporting open science, we serve humanity as a whole. »
Biotech and crypto, a possible duo?
Binance’s CZ is not the first crypto personality to take an interest in biotechnology. Last October, Ethereum’s Vitalik Buterin enriched Karno’s crypto wallet. At that time when this Russian-Canadian engineer was sowing discord among ETH investors with his massive ether transfers, the crypto-philanthropist transferred approximately $15 million in USD Coin (USDC) to this charity specialized in the fight against Covid-19 and other pandemics.
The Ethereum Foundation had to call Cointelegraph to clarify this situation.
As for the idea of association with blockchain, Labiotech assumes that the sector of biotech could benefit from financial windfalls from the crypto industry.
“ The emerging trend of crypto financing in biotechnology is driven by the need for more flexible and innovative financing options in an industry where traditional financing avenues are often outdated and focused on established projects », underlines Alex Dobrin from VitaDAO, a decentralized collective at the origin of Matrix Biosciences.
Basically, blockchain (including cryptos) and biotechnology will certainly make a powerful duo. Alfred C. Chin of Blockchain for Science believes this, as this article highlights.
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