- Alibaba Founder Jack Ma has reemerged in a video, putting an end to months of going missing.
- The crypto community needs better governments and regulations.
- Bitcoin Creator Satoshi Nakamoto may have chosen not to reveal his or her identity to prevent these issues from happening.
After almost three months of going missing, Alibaba Founder Jack Ma reemerged in a video. What does this mean for the crypto community?
According to Tianmu News, Ma greeted rural teachers in China for an event that he hosts every year. He said that he and his colleagues will devote themselves to “education and public welfare”.
Meanwhile, Ma did not mention anything regarding his foiled initial public offering (IPO) for Ant Group. Neither did he make any sharp remark regarding the Chinese government.
While the Internet is mum about the real reason for Ma’s disappearance, here are a couple of things that the crypto community can glean from this.
Crypto Needs Better Governments and Regulations
Prior to Ma’s disappearance, he was last heard saying that “miracles happen”, referring to the upcoming IPO for Ant Group. This was at the Bund Summit in Shanghai, which happened on October 24, 2020. After that, he went missing.
Reports said that the Chinese government used its power to stop the IPO from happening. Other sources also claim that the government has summoned Ma and his associates for questioning.
Alibaba’s shares plunged 7% after Ant Group’s IPO got barred. On the other hand, its shares rose at least 5% after people saw Jack Ma reappear. In traditional stocks and financial markets, people consider these changes to be very big.
For the crypto community, we need not imagine what would happen if a certain government exercises its power against crypto firms. Currently, the US Securities and Exchange Commission (SEC) filed a lawsuit against California-based Ripple. Consequently, many crypto exchanges either delisted or limited trading for XRP, causing its price to crash.
For the crypto market to thrive, crypto firms need to have better dialogues with governments for mutual understanding.
Of course, cryptocurrencies and decentralized finance (DeFi) platforms may mean no harm to the traditional finance sectors. However, it takes proper and constant communication for channels to open and for cooperation to ensue.
Satoshi Nakamoto May Have Been Wiser All Along
As the news has shown, a central person in any asset can heavily affect the market. In this case, if Ma did not resurface, Alibaba might not have seen a recent price climb. In a similar way, Ripple’s ordeal has definitely affected the price of XRP.
However, decentralized cryptocurrency networks like Bitcoin will not experience the same fate. This may be one of the reasons why Bitcoin’s mysterious creator Satoshi Nakamoto chose not to reveal himself up to now. If any tragedy happened to him, BTC’s price may go down. Conversely, if he achieves a particular feat, BTC will rise.
Meanwhile, a lot of things happened in the crypto world after Jack Ma went missing. For example, Bitcoin, Ethereum, and Binance Coin recently recorded new all-time high (ATH) prices. Also, decentralized exchanges (DEXs) set a new ATH in terms of trading volume.