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Crypto: The New Project by CZ After Binance!

Wed 29 Nov 2023 ▪ 4 min of reading ▪ by Mikaia A.
Getting informed

Many thought he was weakened, finished after being ousted from the head of Binance. Yet, CZ stands firm. He has promised to adjust to his new situation knowing that he is “mentally stable.” Recently, he surprised more than a few members of the Twitter community by announcing a crypto funding project for biotechnologies.

Portrait of Changpeng Zhao, biotech vector and cryptocurrency coins

CZ wants to extend the reach of cryptos

We may have recently witnessed a near decapitation of Binance, but the beast is not dead yet. Indeed, the company’s crypto treasury suffered from the last attack by the U.S. Department of Justice and Treasury, but the adventure is not yet over for its 150 million users.

CZ, a post-Binance project?

CZ, who was ousted from Binance after pleading guilty to money laundering, managed to avoid prison. Lucky or cunning? No matter. But he did not experience the same fate as other “crypto bros” like Alex Mashinsky from Celsius Network (CEL) or Sam Bankman-Fried from FTX (FTT).

Following his departure from Binance, Changpeng Zhao had to keep himself busy. We can infer from this tweet that he has been reading articles on biotechnologies. And maybe on other topics as well. And this has inspired him to combine crypto with biotech.

Etica, a crypto project focused on open-source medical research without intellectual property, welcomed CZ’s idea with joy. Here is their comment:

We are thrilled to see other players in the cryptocurrency industry start to connect with biotechnology, research and DeSci broadly. At Etica, we are committed to putting medical research funding in the hands of the people. By supporting open science, we serve humanity as a whole.

Biotech and crypto, a possible duo?

CZ from Binance is not the first crypto personality to take an interest in biotechnology. Last October, Vitalik Buterin of Ethereum enriched the crypto portfolio of Karno. In those days when this Russian-Canadian engineer was stirring up trouble among ETH investors with his massive ether transfers, the crypto-philanthropist transferred approximately $15 million in USD Coin (USDC) to this charitable organization specialized in the fight against Covid-19 and other pandemics.

It took the Ethereum Foundation to reach out to Cointelegraph for clarification on this matter.

As for the idea of an association with blockchain, Labiotech suggests that the biotech sector could benefit from financial resources coming from the crypto industry.

The emerging trend of crypto funding in biotechnology is driven by the need for more flexible and innovative financing options in a sector where traditional funding paths are often outdated and focused on established projects,” notes Alex Dobrin from VitaDAO, a decentralized collective behind Matrix Biosciences.

In short, blockchain (including cryptos) and biotechnology will certainly make a powerful duo. Alfred C. Chin from Blockchain for Science believes in it.

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Mikaia A. avatar
Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.