Ki Young Ju, CEO of blockchain analytics firm Cryptoquant shared his prediction of the crypto market in a post on social media platform X on Friday. The executive believes that Binance founder and former CEO Changpeng Zhao (CZ) returning from serving his prison sentence would create ripples in the crypto market. He wrote before Zhao was released from U.S. custody on Friday:

CZ is getting out early today — bullish vibes everywhere. Not sure why, but I’m feeling it too. He just needs to post ‘I’m back’ and the market will skyrocket.

In another X post, the Cryptoquant chief executive discussed Zhao’s influence within the cryptocurrency sector, underscoring that prominent individuals like CZ often become scapegoats when industries fall short of expectations. He remarked, “Society singles out the most influential figure as the guilty party,” while acknowledging that multiple factors contribute to industry struggles.

He further pointed out that although the cryptocurrency market has absorbed vast capital, its intrinsic value has not increased proportionately, attributing much of this disconnect to challenges such as crime and industry immaturity.

In closing, the Cryptoquant CEO encouraged the crypto community to recognize Zhao’s positive impact, which, in his view, overshadows any missteps. He commented, “Without Binance, the crypto industry would not have attracted the immense global liquidity it benefits from today,” suggesting that CZ’s contributions deserve reassessment. CZ was released from U.S. custody on Friday after serving a four-month sentence.

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