Hi everyone, this is Charles Hoskinson. I wanted to talk about the Binance situation briefly. Many of you know that my friend CZ stepped down [as CEO of Binance].

CZ was part of a class of entrepreneurs in the cryptocurrency space who really epitomized the “Move fast, grow, and innovate” side of things. He ran a business that was regulated or quasi-regulated - depending upon the jurisdiction - and during the early days of crypto, nobody cared.

I'm old enough to remember the days of crypto when people would actually go to Mt. Gox and transfer money to it using PayPal or other services like that; that would be how you bought Bitcoin! Or there was LocalBitcoins where…