Many people tend to view CZ and Binance through the lens of casinos, which is a very narrow perspective. If it were simply about running a casino, there would be no need to engage in unprofitable, difficult, and slow-paced activities. Exchanges are merely an entry point, not the destination. What's truly important is enabling the crypto industry to be used more widely and more securely, and to be understood and accepted by a larger system. You'll see many ordinary people outside the crypto space completing cross-border transfers, payments, and asset preservation for the first time through crypto networks; in many places, currency fluctuations can cause exchange rates to drop by 50% in a year, but storing money in cryptocurrencies allows them to truly preserve the value of their money and convert it into US dollars. You'll also see that @cz_binance has been discussing national stablecoins with governments and regulators around the world for years, essentially exploring how a country can use blockchain to upgrade its financial infrastructure; furthermore, proof of reserves, user asset protection, and compensation mechanisms under extreme market conditions—these are costs for short-term speculation, but they are the foundation for the long-term survival of an industry. For example, Bhutan started using Binance Pay, and later, the global adoption of crypto for real-world payments—this step seems simple but is actually incredibly difficult. Initially, they accepted their own currencies, but payments required cryptocurrencies, meaning Binance had to involve banks and governments—something Jack Ma wanted to achieve back then. CZ entered the crypto space early on by buying BTC and holding... BTC, not high-frequency contracts. What they're really doing is investing in the industry's most fundamental infrastructure, continuously strengthening security, clearing, compliance, and user protection, gradually pushing crypto from something for a select few to something for more ordinary people, more countries, and more real-world scenarios. If one day national-level stablecoins are truly implemented, it means crypto is no longer just a tool for speculation, but is beginning to participate in real financial operations at the national level. This is raising the ceiling for the entire industry, not just earning another round of contract fees. Forcing an industry builder into the narrative of speculators and casinos is a misinterpretation. What he wants to do is expand the industry and broaden its boundaries. This isn't casino logic; this is building an industry.

The essence of the issue isn't whether or not there's a casino, but rather that if you're looking at the world through a casino methodology, you have to see the entire world as a casino, using casino theory to model your world, rather than viewing only certain things as casinos and everything else as value. The logic is the same as the three-plate theory.

That makes sense. Looking at the world through the lens of the three-plate theory, everything is a plate, just of varying sizes.