The sentencing hearing for CZ will begin at 00:00 on May 1st. What impact will it have on CZ and Binance respectively?

For CZ, the crucial moment has finally arrived. Despite receiving support from many in the industry, facing the court is still a necessary step. As for Binance, the former CEO's hearing to some extent will also determine its global development.

CZ's hearing is drawing attention from the entire WEB3 community:

1️⃣ Let's talk about the potential impact on CZ and Binance:

First of all, for CZ himself, in the case of signing a guilty plea and paying a huge fine, and encountering many unclear legal issues in an innovative track, it can be said that CZ did not intentionally do so and actively admitted and took responsibility for his mistakes, regardless of his attitude or the difficulty of the situation.

CZ's lawyer stated that CZ has never committed a crime before, and no defendant in similar cases has been imprisoned; Arthur Hayes is the best example.

So, I feel that there is a high probability that CZ himself will not actually be sentenced to three years in prison, and the probability of a suspended sentence is greater.

2️⃣ Secondly, the impact on Binance:

This may be a concern for many friends, but from my current perspective, it doesn't seem to be a big issue.

As the founder of Binance, CZ bears the responsibility for the growth of Binance and also takes on the possible mistakes during its expansion. However, after stepping down as CEO, he did not hold any position at Binance.

Moreover, in recent months, Binance's development and business have shown positive trends. Therefore, CZ is the soul of Binance in its entrepreneurial stage, leaving behind positive values for Binance. However, Binance has already had new pillars and directions. In this regard, any great company must go through such growing pains; just like Apple without Steve Jobs, or Alibaba without Jack Ma. Growing pains may bring temporary setbacks, but after adjustments, the company will be in the best state.

Most importantly, this incident proves that during CZ's tenure, Binance did not misappropriate user assets, which I think is a significant point.

So, the impact on Binance itself is limited.

Finally, I would like to say:

Best wishes for @cz_binance #FreeCZ

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