When Binance reached a cruel settlement with US regulators, agreeing to a staggering $4.368 billion fine and CZ stepping down as CEO of Binance, facing the possibility of over 18 months of imprisonment, the leading cryptocurrency exchange founded by Chinese finally found a rare moment of relief in the complex US regulatory environment.

The cost paid by the Chinese community this time is painful, yet the US has not ceased its intention to target the Chinese. As industry insiders speculate on the next target of the crackdown, the US public opinion has already set its sights on the target in advance, which is TRON, a well-known public chain founded by Chinese entrepreneur Justin Sun.

As one of the most prominent and active public chains in the cryptocurrency industry, TRON has become the preferred choice for cryptocurrency users due to its high capacity for stablecoins (nearly $50 billion USDT) and lower transaction fees. It has also become one of the few outstanding "Chinese-made" products in the cryptocurrency industry. However, as a result, TRON has become one of the primary targets of attack by US hegemony.

"Because it is faster and cheaper than its larger competitors Bitcoin and Ethereum, TRON has surpassed its competitors to become a cryptocurrency transfer platform associated with designated terrorist organizations in Israel, the United States, and other countries." Under the attack of Western media, TRON has become the "number one culprit" in financing terrorism.

It is well known that TRON's public chain is a technology, and any technology can be used for suspicious activities. For example, legal US dollars are often used for money laundering. Therefore, assuming that TRON or Ethereum has control over the people using these technologies is fundamentally wrong.

Previously, after Binance reached a settlement with US regulators, Coinbase CEO Brian Armstrong immediately refuted the claim that cryptocurrencies are mainly used for fraudulent, money laundering, and terrorist financing purposes, stating, "This is a common practice for financial companies to avoid entering this field due to compliance concerns. There is indeed a small amount of illegal activity in the cryptocurrency field, but from what we have seen, this proportion is actually less than 1%. If you look at the illegal use of cash, you will find that this situation often occurs in this field."

Considering the transparency of blockchain technology and the public nature of terrorist financing activities, cryptocurrencies are not an effective solution for large-scale funding of terrorism. Although TRON cannot control its user base due to its decentralized nature, with the efforts of centralized stablecoin issuer Tether, a small number of addresses used for terrorist financing have been promptly frozen.

On the other hand, the role of blockchain, especially the Chinese force in blockchain, in terrorist financing has been greatly exaggerated, and we need to look at the absolute numbers. According to foreign media reports, despite the long-term vigilance of the Israeli security forces against suspected terrorist financing activities, less than 150 TRON wallets have been frozen in over two years. Considering the inevitable "better safe than sorry" approach in this process, the actual involvement of terrorist financing activities in TRON's user base of 200 million can be described as a drop in the ocean.

The popularization and development of encryption technology are both the result of social progress and a necessary requirement for global asset security. Chinese figures such as Justin Sun and CZ have been contributing to the development of the global financial system in the cryptocurrency industry. However, the intervention of US hegemony has hindered the popularization of encryption technology, further weakening the position and influence of the Chinese in this field.

US hegemony is one of the dominant forces in the global order. Its military, political, and economic advantages allow it to control the global public opinion and policy direction. In the issue of terrorism, the US often defines it as the number one enemy of international security, and uses this as a reason to strengthen its regulation and intervention in the cryptocurrency industry. However, this will only further weaken the Chinese force in the cryptocurrency industry and help US hegemonism to set up another banner.

In the context of Western public opinion attacking the Chinese force in the cryptocurrency industry and the US once again exercising its long-arm jurisdiction, we should be vigilant and take active action. The outstanding Chinese force in the cryptocurrency industry should receive the respect and protection it deserves, and should not be subjected to unfounded accusations and obstacles. Only in this way can we jointly build a more secure, stable, and prosperous encrypted world.

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