Vladimir Okhotnikov: A Fintech Leader Binance Drifts Along the Authorities’ Course
The article “Vladimir Okhotnikov: comments to the history of Binance” has been published, in which a philosopher-researcher,a developer of complex IT projects and libertarian supporter Vladimir Okhotnikov presents the history of Binance through the prism of a historical retrospective.
The ups and downs: the Order of Knights Templar, the East India Company and Binance
Vladimir Okhotnikov lifts the veil of history: the ancient Order of Knights Templar, the East India Company and our main character – Binance. All of them found themselves in a confrontation with the authorities, and the world of cryptocurrencies was no exception. Power, monopolies and money – a plot that is relevant at any time interval. Okhotnikov reveals the deep historical roots of the struggle of states with powerful private organizations and highlights key aspects – centralization of power, conflicts of elites, and, as a result, pressure on organizations that turned out to be too influential for their time. The historical pattern of states clashing with powerful private entities is repeating itself in our time with Binance. Okhotnikov argues that this is based on the immutable nature of the state, acting in the interests of elites. Vladimir Okhotnikov’s view from the past on events today is a fascinating journey into the world of finance and power. It seems that history is constantly repeating itself, but under the cover of each time its own epic smolders.
An instructive story about Binance: rise, conquest of the world of cryptocurrencies and control from the authorities
Binance is the most unusual structure of our time. Binance’s rise began in 2017 with a successful $15 million ICO. It was a real space flight to the undoubted dominance in cryptocurrency trading volumes. But it seems that even in space there is no protection from earthly authorities. Vladimir Okhotnikov paints a picture of how Binance succumbed to pressure from American authorities. And of course, there was some drama – founder Changpeng Zhao quits under pressure, and Binance returns to the cryptocurrency trading arena under new control. Success in a new light – the largest crypto company in the world came under the control of the authorities. The story of Binance Corporation is full of sudden turns of events, but it is not just a story, it is a lesson in how power can change the dynamics even in a world where one considers oneself untouchable.
Friendship with the state: Tether and the art of compromise in the world of cryptocurrencies
In his article, Vladimir Okhotnikov draws attention to Tether, the largest operator of stablecoins (USDT), a true ally of the state in the world of cryptocurrency battles. In November 2023, Tether announced a partnership with US intelligence agencies and the blocking of crypto wallets under US sanctions. This is a controversial decision by Tether. Okhotnikov talks about how sometimes you have to make concessions to maintain stability and influence. Principles remain a thing of the past when the fate of millions is at stake. This strategy, where compromise becomes a necessity for survival, has brought Tether to the winning side – Tether is now successfully colonizing Latin American financial markets.
The final act: how Binance could change its course
In the final part, Vladimir Okhotnikov asks the main question: “Did Binance have a chance to remain in the same format?” – could Binance avoid confrontation with the authorities? The answer is yes if they agreed to work within the framework of established rules that benefit the elites. However, founder Changpeng Zhao chose the path of independence, which led to conflict with the authorities. Despite all the difficulties, the man who created Binance will find a new way to realize his creative energy.
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