CEO: Binance is Not a Chinese Company

  • Binance`s CEO has said that the firm is not a Chinese company.
  • The allegations state that Binance is owned by a close friend, Guangying Chen.
  • Changpeng Zhao also states Binance has no ties with the Chinese government.

Changpeng “CZ” Zhao, CEO of Binance, claimed on BloombergTV that his company is mistakenly thought to be Chinese because he looks Chinese. The CEO says, “Binance is not a Chinese company; we are not related to China at all.”

According to the claims, Guangying Chen, a Chinese national and close friend of CZ, is allegedly the hidden owner of Binance as well as Bijie Tech, a tech company he founded in 2015.

CZ stated that Chen is a colleague who he hired to oversee the back office at Bijie Tech, and also hired her once more at Binance. Given that Chen was one of the few who initially stayed in China, the critics had asserted that she was the secretive owner of Bijie Tech and Binance.

He stated, “As a result, both she and her family have been targeted and harassed by the media and online trolls. Had I known how much of a negative impact this would have on her life, I never would have asked her to do what seemed like such an innocuous step at the time.”

Additionally, CZ refuted claims that Binance has strong ties to the Chinese government. He continued by detailing some of his horrific encounters with Chinese authorities. The CEO of Binance clarified;

The greatest challenge that Binance faces today is that we (and every other offshore exchange) have been designated a criminal entity in China. At the same time, our opposition in the West bends over backward to paint us as a Chinese company. The inference is that because we have ethnically Chinese employees, and perhaps because I am ethnically Chinese, we are secretly in the pocket of the Chinese government.

CZ also describes how Bijie Tech was shut down by Chinese authorities. He departed from Bijie Tech with a few of his staff members to launch Binance.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer