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Sunday, December 4, 2022

CZ Hits Back At Claims Binance Is A Chinese Company

Before the 2017 debut of Binance, the exchange’s founder also discussed certain personal and professional obstacles he had to overcome from the Chinese authorities.

Changpeng “CZ” Zhao, CEO of the firm, has retaliated against skeptics and conspiracy theorists who have accused firms of being a “criminal business” with a Chinese base that “secretly [belongs] in the pocket of the Chinese government.”

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In a blog post published on Thursday through the firm, CZ addressed his detractors after getting into a Twitter argument with a former Washington Post reporter who questioned him, “While I have you here, who is Guangying Chen?”

He clarified that the query relates to a rumor that his close buddy Guangying Chen, a Chinese national, is the hidden owner of Bijie Tech, a business he created in 2015, and maybe Binance.

However, CZ clarifies that Chen is a coworker of his who he met through a friend and who he hired to “manage the back office” at Bijie Tech before re-hiring her at the firm, adding that given that she was one of the few to have initially stayed in China, conspiracy theorists then linked her as a secret owner of the companies.

CZ Hits Back At Claims Binance, A Chinese Company: 

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According to websites like Scam Binance, Chen once held 93% of the shares in Bijie Tech & Binance, among many other things. According to CZ, the source of these rumors was an “old campaign that a competitor launched via an anonymous microsite.”

According to CZ, the unintended implications result from the ethnicity of a few other Binance employees, including himself, which makes the company “an obvious prey for special interests, media, or even policymakers that despise our business.”

Despite Binance being formally incorporated in China and never conducting business in a manner consistent with a Chinese company, according to CZ, Chinese-infiltrated tales continue to circulate.

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