Has Binance, the crypto industry’s original wild child, now become the arbiter of our national economic policy? Richard Teng says that Binance is consulting governments on holding reserves in Bitcoin and crypto-friendly regulations. This should scare the pants off anyone who cares about American national sovereignty and economic independence. Are we literally, really, truly going to allow a private, quasi-decentralized company to continue determining the future of all of our financial systems?

Whose Interests Are Really Served?

Let's be blunt. Binance is a business. And their overriding interest isn’t benevolent direction; it’s in earning a buck. While Teng points to the US as leading the way in Bitcoin frameworks, suggesting a potential model for other nations, we must ask: is this truly about sound economic policy, or about establishing a globally standardized regulatory environment that conveniently aligns with Binance's long-term business interests? Are other countries really just following America’s lead, or are they being quietly pushed down a Binance carpeted road?

The idea of a “strategical Bitcoin reserve” would invite real disaster. Its illicit inspiration—a proposed move by a former US president—should give us all pause. It’s a highly centralized, state-controlled version of something that was always meant to be very decentralized. This is not advancement, this is a perversion of what true progress was always meant to be. Who is going to profit the most from governments buying and holding huge stockpiles of Bitcoin? Businesses such as Binance can provide custodial services and trading pairs. They offer all sorts of other profitable intermediaries to control these reserves.

Regulatory Capture In Plain Sight?

Binance seeking a global headquarters is telling. But far from being an embarrassment, it’s an acknowledgement that regulatory clarity is the surest avenue to regulatory supremacy. But at what cost? When a company like Binance develops deep relationships with governments, it usually comes included with prescriptive regulatory advice. This practice greatly increases the potential for regulatory capture. It's the fox guarding the henhouse, folks.

Imagine a scenario where Binance's recommendations lead to regulations that stifle smaller crypto businesses, or favor Binance's specific technological infrastructure. The result? A more oligopolistic market, lower innovation, and a financial system ever more dominated by a single, interconnected, too-big-to-fail player. We’ve watched this unfold in industry after industry, and the consequences have been disastrous. Are we really that gullible to believe crypto can’t be touched?

Globalism or National Sovereignty, Pick One.

Here's the unexpected connection: this isn't just about Bitcoin. It’s the globalist–national sovereignty fight, round three. At its core, cryptocurrency is a technology for personal liberation and economic sovereignty. When governments start to treat Bitcoin as a strategic asset, they do a great disservice to its very nature. Seeking direction from corporations such as Binance on how to regulate it is a direct danger to that freedom.

Are we really prepared to let a private company without a permanent address dictate the terms of our financial future. Until recently, it did so with an immunity from enforcement by any individual nation’s laws. Are we really willing to stake our future economic independence on the counsel of a monopoly company whose bottom line is their only priority?

  • The Illusion of Decentralization: The idea of governments holding Bitcoin reserves creates a centralized point of failure, undermining the core principles of decentralization.
  • Potential for Manipulation: Government-controlled Bitcoin reserves could be used to manipulate markets or exert political pressure.
  • Erosion of Individual Freedom: Increased government involvement in the Bitcoin ecosystem could lead to greater surveillance and control over individuals' financial activities.

We must be wary. We must demand transparency. As always, the real Bitcoin superpower is with you the user. It doesn’t just belong to governments and corporations. Let's not allow Binance's Bitcoin advice to become the Trojan Horse that delivers us into a future of global financial control. It's time to ask serious questions and demand accountability before it's too late.