CZ: Crypto Has Never Needed a Bailout — and Never Will, Amid U.S. Political Pushback

Binance founder Changpeng Zhao (CZ) said on February 20 that the cryptocurrency industry has never required a bailout and will never need one, pushing back against growing political scrutiny in the United States over the idea of taxpayer support for digital asset markets.CZ’s remarks came a day after Elizabeth Warren, a senior member of the Senate Banking Committee, urged U.S. authorities to explicitly rule out any government bailout of the crypto industry.Warren Warns Against Taxpayer-Funded Crypto BailoutsIn a letter sent on February 19 to U.S. Treasury Secretary Scott Basset and Jerome Powell, Warren warned that using public funds to support crypto markets would amount to “transferring wealth from American taxpayers to cryptocurrency billionaires.”She argued that such a move would be:Politically unpopular,A misuse of taxpayer money, andPotentially beneficial to President Donald Trump and his family’s crypto-related venture, World Liberty Financial.Warren has long positioned herself as one of Washington’s most vocal critics of the crypto industry, frequently highlighting risks tied to investor protection, financial stability, and perceived regulatory gaps.CZ: Crypto Is Built Without BailoutsResponding to the broader narrative, CZ emphasized a core distinction between crypto and traditional finance: crypto markets have historically absorbed losses without public rescues.“Cryptocurrency has never needed a bailout and will never need one,” CZ said, reinforcing the view held by many in the industry that digital assets operate under a market-driven model where failures are resolved through liquidations, restructuring, or exit — not taxpayer intervention.