幣安正在蓬勃發展。新任執行長能否讓美好時光繼續下去？

當我在四月採訪接任幣安執行長的理查德·騰時，他將公司的復興歸因於願意向監管機構做出彌補。

CZ’s Binance is having a banner year—despite a prison sentence, fraud allegations, and a new round of legal troubles.

儘管被判入獄、受到欺詐指控以及新一輪的法律麻煩，CZ 的幣安網今年還是表現出色。

Nobody—including, I’m guessing, CZ himself—could have anticipated where we are today. The DOJ did end up filing its charges, although not until November, with a watered-down settlement that omitted any allegations of misappropriation or fraud. And while the SEC is still pursuing its case, CZ got off with what amounts to a slap on the wrist—a four-month stint at a low-security prison near Santa Barbara, where inmates work on horse farms and spend much of the day outside, according to one prison consultant. He started his sentence in early June, as his nemesis, Sam Bankman-Fried, remains at one of the worst detention centers in the country, planning the appeal of his 25-year sentence.

沒有人——包括，我猜 CZ 本人——能夠預料到我們今天的處境。美國司法部最終確實提出了指控，儘管直到 11 月才提出，並達成了淡化的和解協議，省略了任何挪用或欺詐的指控。儘管SEC 仍在追查此案，但CZ 卻得到了相當於一記耳光的懲罰——在聖巴巴拉附近一所低安全級別的監獄裡服刑了四個月，囚犯們在馬場工作，每天大部分時間都在監獄裡度過。他於6 月初開始服刑，而他的宿敵薩姆·班克曼-弗里德(Sam Bankman-Fried) 仍被關押在全國最糟糕的拘留中心之一，併計劃對他25 年的刑期提出上訴。

Meanwhile, Binance is thriving. After months of speculation that BNB’s precipitous fall could cause Binance to collapse, similar to FTX and its ill-fated FTT cryptocurrency, Binance’s proprietary token just hit an all-time high last week, cementing CZ’s status as one of the wealthiest men in the world. On Saturday, the company triumphantly announced it had reached 200 million users, including 30 million new users in the first half of this year. And in perhaps the most significant sign of the company’s recovered reputation, Mastercard quietly resumed support for payments on the exchange, after suspending services amid the regulatory overhang. With Visa and Mastercard competing on their crypto offerings, I wouldn’t be surprised to see the latter relaunch its partnership on a Binance-branded card in the coming months.

與此同時，幣安正在蓬勃發展。與FTX 及其命運多舛的FTT 加密貨幣類似，人們一直猜測BNB 的急劇下跌可能會導致幣安崩潰，但幣安的專有代幣上週剛剛創下歷史新高，鞏固了CZ 作為世界上最富有的人之一的地位。週六，該公司得意地宣布用戶數已達2億，其中今年上半年新增用戶達3000萬。萬事達卡在監管懸而未決的情況下暫停服務後，悄悄恢復了對交易所支付的支持，這也許是該公司恢復聲譽的最重要標誌。由於 Visa 和萬事達卡在加密貨幣產品上競爭，如果後者在未來幾個月內重新啟動幣安品牌卡的合作夥伴關係，我不會感到驚訝。

When I interviewed Richard Teng, who took over as Binance CEO, back in April, he attributed the company’s resurgence to its willingness to make amends with regulators, institute compliance measures, and comply with the U.S. government’s burdensome monitorship requirements—a program, he said, that would also win trust with users. It’s hard to argue with the results, especially viewing FTX as a foil.

當我在4 月採訪幣安執行長理查德·騰(Richard Teng) 時，他將公司的復興歸因於願意與監管機構做出彌補、制定合規措施並遵守美國政府繁瑣的監管要求（這是一項計劃），他說。很難對結果提出異議，尤其是將 FTX 視為陪襯。

Most of the success can likely be owed to the fact that Binance largely operates outside the U.S., from its operations to its offerings. Binance.US, of course, mostly failed following the collapses of 2022, though it still operates as a zombie company. And Binance is still grappling with the same type of unforced errors that defined its rise to the top. The fact that Tigran Gambaryan, the former IRS investigator turned Binance exec, will face more time in detention than his former boss reflects the company’s incompetence and immaturity.

幣安的成功大部分可能要歸功於幣安從營運到產品主要在美國境外運作的事實。當然，Binance.US 在 2022 年倒閉後大部分都失敗了，儘管它仍然像殭屍公司一樣運作。幣安網仍在努力應對那些導致其崛起的同類非受迫性錯誤。前國稅局調查員、幣安高管蒂格蘭·甘巴揚 (Tigran Gambaryan) 將比他的前老闆面臨更多的拘留時間，這一事實反映出該公司的無能和不成熟。

And yet, if history books are ever written about the great Binance vs. FTX war, we already seem to have a clear victor: CZ, high atop his horse at the Lompoc II federal correctional institution.

然而，如果歷史書上記載了幣安與 FTX 之間的偉大戰爭，那麼我們似乎已經有了一個明顯的勝利者：CZ，高高地騎在隆波克 II 聯邦懲教機構的馬背上。

Leo Schwartzleo.schwartz@fortune.com@leomschwartz

利奧·施瓦茨leo.schwartz@fortune.com@leomschwartz

DECENTRALIZED NEWS

去中心化新聞

The venture firm CMT Digital, which has backed companies including Circle and Coinbase, is raising its fourth crypto-focused fund with a target of $150 million. (Fortune)

創投公司 CMT Digital 已經支持了 Circle 和 Coinbase 等公司，該公司正在籌集第四隻專注於加密貨幣的基金，目標規模為 1.5 億美元。 （財富）

Bitcoin prices fell further as traders prepared for key economic reports on Wednesday. (CoinDesk)

隨著交易員為週三的重要經濟報告做準備，比特幣價格進一步下跌。 （幣台）

A showdown is looming in Europe over the regulatory approach to stablecoins, which could mean trouble for Tether. (The Block)

歐洲對穩定幣的監管方式即將展開攤牌，這可能會給 Tether 帶來麻煩。 （街區）

Crypto industry leaders—and some politicians—remain convinced that Democrats will ease their approach to regulation. (New York Magazine)

加密貨幣行業的領導者和一些政客仍然相信民主黨將放鬆監管。 （紐約雜誌）

The Federal Trade Commission issued a new consumer warning about romance scams, which often use cryptocurrency to steal money. (Cointelegraph)

聯邦貿易委員會針對浪漫詐騙發布了新的消費者警告，此類詐騙經常使用加密貨幣來竊取金錢。 （聯合電訊報）

MEME O’ THE MOMENT

當下模因

Just wait until Apple announces Dogecoin payments:

等待蘋果宣布狗狗幣支付：