After the escalated war odds in South Asian countries, India and Pakistan, former Binance CEO Changpeng Zhao commented on the situation and asked for peace. Both countries have been hot and cold ever since the partition in 1947, with four battles in the last 77 years. The odds of another rising past the massacre of 26 tourists in Indian-administered Kashmir, resulting in India blaming Pakistan for involvement. Amidst this, India launched missiles targeting the terrorist infrastructure across sites in Pakistan-administered Kashmir and Punjab to prevent further attacks, but war fear builds. What does CZ have to say? Let’s discuss.
Changpeng Zhao Asks For Economic Rivalry, Not War
The crypto adoption is on the higher side in India and Pakistan, per Reuters and many others, so a war situation could affect the global crypto market, let alone the people. The Ukraine-Russia war has already brought massive turbulence. Notably, it is still affecting the financial market in many ways. As the world’s focus shifts to India’s ‘Operation Sindoor’, Changpeng Zhao also commented on the escalated situation.
In an X post, the former Binane CEO and the newly appointed Pakistan’s crypto advisor, CZ, have commented on India’s Operation Sindoor, hoping for people’s safety. More importantly, he asked for the economic rivalry instead of the India-Pakistan war, adding that we are all humans.
However, the CZ’s tweet received mixed reactions, where many, including the Kyrgyz Republic’s president, supported the peace mindset, while others called for CZ’s ignorance of the Pahalgam massacre. With the terror attack, 26 Indian tourists were brutally killed, alleged to have been funded by Pakistan.
The situation is adverse, with a number of deaths in India’s Operation Sindoor on both sides. As a result, there is a fear of escalation. Even the US President, Donald Trump, has commented in the hope of a sooner resolution and settlement.
Crypto Market Maintains Stability: Will it Alter?
For now, the crypto market remains relatively stable despite India’s Sindoor Operation and escalating war odds. As the crypto investors focused on the FOMC meeting result, ending today, the India-Pakistan war situation broke out unexpectedly.
Despite the unfavorable conditions, the Bitcoin price is rising, currently trading at $96.9k after a 3% surge in 24 hours. Moreover, many top altcoins are moving up amid the building market’s uncertainty. Experts claim the stability is due to investors’ anticipation of ‘No War,” as Changpeng Zhao suggested.
These assets’ further performance and the market depend on Jerome Powell’s speech today. Industry experts warn of potential high volatility, and if India and Pakistan enter a war, the market may witness a full-blown red week or more.
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