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Binance CFO hits out at Facebook Founder for developing closed blockchain ecosystem; Calls Him a ‘Megalomaniac’

Facebook Founder
Facebook Founder

CFO of Binance cryptocurrency exchange, Wei Zhou, recently called the Facebook creator Mark Zuckerberg a megalomaniac for developing cryptocurrency and blockchain projects to hold dominance over the crypto market and crush the dominance of other crypto companies’ aside in the market.

Most of them are appreciating the projects of Facebook of introducing its own blockchain and even stating that Facebook might bring its own cryptocurrency, as per Binance CFO. He says that these people are misguided and wrong because Mark Zuckerberg aims to design a centralized version out of something which should be decentralized and open to use.

Meanwhile, Facebook chairman’s former Harvard classmate Zhou mentions that Mark Zuckerberg is doing nothing in order to scale up to the massive adoption of blockchain and cryptocurrency. Instead, he is looking to make a closed and centralized crypto-ecosystem so that he can have complete control over the various industries.

However, these misguided people hope that Facebook coin might give more right to the crypto industry. Zhou also said that people have misinterpreted his objectives.

According to Zhou, Mark Zuckerberg is planning to make use of its 2 billion users that have already registered on Facebook to work as an unregulated country by using its own internal economy.

Zhou states: “I suspect it’s going to be a closed Facebook ecosystem.” “Their goal is to wall off other people from coming into their system. Their goal is not to open up their system to other people.” Further “The thesis behind [crypto] tokens in general, the blockchain in general –it’s an open system where anyone can use it if they spend the time to adopt the technology.”

Zhou, says that he does not believe in the Facebook chairman’s crypto plans. Zhou and Mark both attended the same Harvard and in 2004 Zhou was included in the list of first 2,000 students, they had taken part in the networking website of the college later through which Facebook was born. He even said that Facebook chairman did not praise the early supporter’s team as the company started becoming popular. He is doubtful over the intentions of Mark Zuckerberg.

Zhou said that “I’m as much a part of that community, and helped to contribute to that success as the shareholders that put money in it, as the engineers who worked on it. None of those people gets representation.”

This is the reason why people are moving away from the company, and they are not the shareholders of the company anymore.

Zuckerberg Controls Facebook and is not a community-driven firm

Zhou shares his personal experience with Mark Zuckerberg and says that important decisions for the Facebook blockchain will be taken by only one person.

Cryptocurrencies and blockchain both boost decentralization but Mark will make the crypto ecosystem of Facebook completely centralized one, and he will be entirely controlling it at the center.

On the other side, Zhou speaks about the Binance’s objective; he says the objective of Binance will help in expanding the cryptocurrency and blockchain ecosystem to add more people.

By looking at his personality, one can surely say that he wants to be the only leader. He is a megalomaniac, and few shareholders do believe in it.

Mark Zuckerberg has been leading the Facebook Company as chairman from 2012 onwards, and when he was asked by shareholders to resign, he refused to do so. He is even the CEO of Facebook and handles shareholders.

Ellan Hare

Ellan Hare is a bitcoin trader and actively participates in bitcoin exchange. She also writes blog to guide people dealing with bitcoin exchange. She write latest bitcoin news for She is an avid traveller.