Binance not a Chinese Company- CZ declares:
Binance CEO, Changpeng Zhao (CZ) has released a statement on Company’s blog to unravel company’s relationship with China.
According to CZ, Binance is not a Chinese company, and the conspiracy theories of a Chinese employee secretly running the business are void.
About his history with China, CZ began by reminiscing his personal moments with the China.
His family, including him, fled from the nation to Canada when he was 12 years old, only two months after the events of June 4th 1989.
“It changed my life forever and opened up endless possibilities for me,” he wrote.
Binance CZ went back to China in 2005, and began an exchange-as-a-service business called Bijie Tech in 2015.
Unfortunately, the Chinese government cracked down such exchanges in March 2017, causing his business to halt.
Consequently, the Government also imposed a similar unilateral ban on crypto exchanges operating in China on September 4th – A month and a half after CZ and his team started Binance.
The Unilateral ban forced Binance to resort to a remote working system, which led to the company hiring workers from across the globe.
The Guanying Chen conspiracy theory
CZ disclosed that one of the employees that worked for him at his previous company, Bijie Tech was Guanying Chen, a Chinese national.
CZ listed her as the company’s legal representative at that time due to restrictive laws in China surrounding foreigners like himself – As a Canadian citizen.
Because her name is listed on the early Bijie Tech documents, Binance’s detractors have leaped at the opportunity to spread a conspiracy theory that Guangying was secretly the owner of Bijie Tech and possibly even Binance. Asserted by the executive.
There have been recent reports, including one published by Fortune magazine on Monday, revealing that Binance is deeply connected to China from its origins.
This partially signifys that Binance may be banned in India like TikTok was, due to the fact that it might be “led by persons of Chinese origin.”
Binance CEO disclosed that Chen was forced to leave China in 2017, but that many Chinese outlets still share “conspiracy theories” about her, and it is always picked up by certain tabloids(Newspapers).
Meanwhile, Today, Chen oversees Binance’s admin and clearing team while living in an European country.
Finally, CZ concludes that Chen is not a “secret Chinese government agent,” and that Binance is not a Chinese company, amidst attempts from its “opposition in the west” to paint it as such.