CZ provides a voice of reason as the community raises concerns over Libra

23 Jun, 2019
by Richard Allen
Social
CZ provides a voice of reason as the community raises concerns over Libra

Facebook’s upcoming Libra cryptocurrency has become a hotly contested debate, with many industry heavyweights arguing for and against the stablecoin. Binance CEO Changpeng Zhao has entered the discussion. However, instead of taking a side, CZ urges the community to focus on adoption before judging Libra.

While CZ hasn’t stated Libra will be a negative for the space, he has stated it will be good either. Instead, CZ seems more concerned with getting the world involved in cryptocurrencies before jumping to conclusions about Libra.

While many have argued against the cryptocurrency, including Jameson Lopp and, more recently, CNBC’s Joe Kernen who as praised on social media for stating that Libra isn’t a cryptocurrency, many others have noted that, given Facebook’s 2 billion users, Libra could provide a major boost to adoption.

With that being said, another argument circulating around Libra is the potential threat it poses it many altcoins. One user commented as such in response to CZ’s tweet. The Binance chief executive was quick to fire back, however, stating that people said the same thing about Bitcoin when it was trading at the $3,000 level.

Another user opined that Libra may end up doing more damage to the crypto space than good, arguing that Facebook may start “violating financial data” from newcomers. CZ responded, asking the user not to attack Facebook for crimes they haven't committed yet:

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