CZ Frustrated When Binance Was Labeled As A Chinese Company

Binance CEO Changpeng Zhao (CZ) released a statement on the Binance blog to clarify the company’s relationship with China. He confirmed that Binance is not a Chinese company. And the conspiracy theory that there are Chinese employees secretly doing business is not true.

Indeclaration published on September 1, CZ began by sharing his personal history with China. He and his family left the country for Canada at the age of 12, just two months after the events of June 4, 1989.

“It changed my life forever and gave me endless opportunities,”

He wrote

CZ moved back to China in 2005 and started trading as a service called Bijie Tech in 2015. However, the Chinese government shut down all exchanges in March 2017, causing the business to cease.

According to the CEO, one of the employees who worked for him at his first company – Bijie Tech – was Chinese Guanying Chen, who CZ had her registered as the company’s legal representative at the time. Due to the strict laws in China regarding foreigners like him who are Canadian citizens.

“Since her name was listed in the early Bijie Tech documents, it led to a conspiracy theory that Guangying secretly owned Bijie Tech and even Binance.”

CZ said

There are many news articles including articles that published Fortune magazine on August 30 claimed that Binance has deep connections to China because of the company’s origins. The article suggested that Binance could be banned in India, as well as TikTok, for being “led by a person from China”.

CZ said Chen was forced to leave China in 2017, but many Chinese news outlets still publish it. “Conspiracy theories” about her are picked up by some newspapers from time to time, and today Chen oversees Binance’s admin and clearing and resides in a European country.

The CEO concluded that Chen was not a “secret Chinese government spy” and that Binance was not a Chinese company.

The CEO noted that these kinds of news, malicious FUDs are more common in crypto, and are “more sophisticated,” CZ said. “Plus, these kinds of campaigns undermine trust in the entire industry.”

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