- Binance CEO, Changpeng Zhao, insists that his crypto exchange has no link to China.
- A blog post shared via the Binance website serves as a response to Zhao’s critics.
- Zhao dispels rumors that Binance is secretly owned by a Chinese national.
Following critics and conspiracy theorists claiming that Binance is a “Chinese company” because its chief and employees are ethnically Chinese, CEO Changpeng Zhao shakes his head over racial chastisement by critics.
The Binance CEO did not hesitate to defend his and his company’s reputation amid punitive attacks from critics that seem to have been plaguing the cryptocurrency exchange long before today.
In his reply to someone who shared a Fortune India article describing Binance as a “Chinese-origin[ated] crypto exchange” on September 1, Zhao suggests that his Chinese ethnicity has nothing to do with the firm’s origin and that he has been a Canadian citizen for more than 30 years.
And now we are being pegged as a “Chinese company”, even though crypto exchanges are explicitly banned in China.
Just because of my Chinese ethnicity? I thought we (our civilization) is better than that.
I have been a Canadian for 30+ years. 😂
— CZ 🔶 Binance (@cz_binance) September 1, 2022
On the same day, the Binance CEO responded to critics via a blog post, explaining that Binance is not a Chinese company.
“Binance was never incorporated in China [nor] do we operate like a Chinese company culturally,” reads the blog. Zhao further explains that Binance has no legal entities in China and that they do not have plans to.
The Binance CEO further explains that the exchange has been surrounded by doubts from the East and West.
The greatest challenge that Binance faces today is that we have been designated a criminal entity in China. At the same time, our opposition in the West bends over backwards to paint us as a Chinese company.
Zhao theorized that the interference may have been caused by his Chinese ethnicity, resulting in Binance being linked to China.
The CEO dispelled this claim and explained that being Chinese or having emigrated from China should not give people the right “to cast aspersions, lay false claims, or question one’s loyalty to their country.”
Notably, the whole blog post stems from a Twitter exchange between a Binance executive and a Washington Post journalist, with the journalist inquiring about one Guangying Chen.
To note, Guangying Chen is the alleged secret owner of Binance and Bijie Tech, a company Zhao founded in 2015—a rumor Zhao has already dismissed.
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