On July 17, former Binance CEO Zhao Changpeng (CZ) refuted the remarks of U.S. Senator Elizabeth Warren on social media. Warren had previously warned that cryptocurrencies could "destroy" the U.S. economy and claimed that New York Stock Exchange (NYSE)-listed companies could evade SEC regulation through digital means, which would seriously damage the value of the NYSE if Amazon, Meta, or General Motors chose to withdraw. CZ questioned Warren's logic of trying to restrict U.S. companies to "protect the U.S. economy," pointing out that the NYSE is only a company wholly owned by ICE with a market cap of about $100.00 billion, while Amazon's market cap has reached $2.40 trillion. He emphasized: "NYSE is not the economy. All companies together constitute the economy." [TechFlow]

CZ rebuts Senator Warren's remarks on cryptocurrency threatening the U.S. economy