Lessons to be learnt from Changpeng Zhao,the former Binance CEO.

The price of Ignorance
'Ignorantia juris non excusat' is a Latin axiom which could be translated into English as Ignorance of the law exonerates none. The history of Bitcoin and altcoins is not without turbulence and mistakes. There were rewards and penalties that were made and paid for having a steadfast trust in cryptocurrency. These penalties would have to be paid for by the early pioneers and adopters of the blockchain technology.

Brainwashed about Bitcoin
Before joining the cryptocurrency Eco-space, I had pointed accusing fingers at those who talked to me about Bitcoin. It was my fault to have allowed the trado-system to brainwash me into thinking that Bitcoin was 'the money of criminals and was dirty'.

The Satoshi Nakamoto's pet project influencer
It was through Changpeng's Binance that I learnt about the blockchain and Bitcoin. Changpeng is a great crypto-evangelist that promoted the beauty and strengths of the blockchain in the four corners of the world.

All roses have thorns
However, while building the foundation of Binance, Changpeng flaunted some USA anti-money laundering laws by not doing enough to implement effective anti-money laundering measures. For the mistakes he committed in the past, Changpeng felt it was time to pay for them and pleaded guilty to money-laundering.

This action of his was viewed as the greatest execution of responsibility even though Changpeng risks going to jail.While the heat was on, there was this fear that Binance could collapse but the reverse was the case.


Few lessons learnt
Changpeng's admittance to right a past mistake should inspire us to take responsibility for all our actions. 'The laws which could be broken are those made by humans' so goes an ancient adage. Because man-made laws are easily broken, there are penalties for breaking them and we ought to exercise some level of responsibility and own up to our mistakes.

Another lesson learnt is that apology for a wrong deed softens hardened hearts. In the case of Changpeng, he has won many hearts who have reasoned that the crying child must not be thrown away with the bathing water. These three words: 'I am sorry' are very powerful towards igniting the flame of humanity in the very people we have offended.

The third lesson which we should assimilate is that altruistic leaders think of the community first before themselves. By resigning his position as the chief executive officer of Binance, Changpeng has demonstrated that the interest of the larger Binance community supersedes his own self-interest. The Binance community members could easily see this altruism in Changpeng.

The fourth lesson which we could hold onto is having faith in those we have mentored while we were in leadership positions, because there would always come a time when leaders must step down. Changpeng's resignation did not leave a gap and did not cause a commotion, but instead as a leader, he supported the incoming Chief executive officer and inspired the existing followers to do the same.

Conclusion
Changpeng has set a pace in the crypto-space: to be responsible to our every action in our homes, communities and the global village. This maturity of his, will change the narrative in no distant future. What other lessons can we learn from Changpeng? The reader's input would be immensely appreciated.

Reference: https://www.reuters.com/markets/deals/former-binance-ceo-changpeng-zhao-must-stay-us-time-being-judge-says-2023-11-27/