Zhao Changpeng: Cryptocurrencies never needed rescue and will never need it

Binance founder Changpeng Zhao stated that cryptocurrencies never needed a bailout and will never need one.

On February 19, Senator Elizabeth Warren, a senior member of the Senate Banking Committee, wrote to Treasury Secretary Scott Basset and Federal Reserve Chairman Jerome Powell, urging the government not to use taxpayer funds to bail out the cryptocurrency industry. In her letter, Warren warned that any form of bailout would mean "transferring wealth from American taxpayers to cryptocurrency billionaires," which is not only "extremely unpopular" but could also directly benefit President Trump and his family's cryptocurrency project, World Liberty Financial.