As China continues to forbid the trading of cryptocurrencies, Binance founder and CEO Changpeng Zhao emphasized that Binance is not a Chinese business and that it “was never established in China.”. According to Zhao’s blog post, the world’s largest cryptocurrency exchange by trading volume has employees with similar backgrounds to other significant exchanges, including FTX and Crypto.com. He added, “but some people insist on calling us a ”Chinese company,” and in doing so, they don’t mean well.” China’s Relationship With Binance CEO Changpeng Zhao CZ opened the statement he released on Thursday by outlining his relationship with China. When he was 12 years old, just two months after the events of June 4th, 1989, he and his family escaped the country and moved to Canada. After returning to China in 2005, CZ established Bijie Tech, an exchange-as-a-service company, in 2015. Nevertheless, the company had to shut operations as the Chinese government banned all similar exchanges in March 2017. On September 4, 2019, a month after CZ and his colleagues launched Binance, it subsequently unilaterally placed a similar ban on cryptocurrency exchanges operating in China. Due to this, Binance was compelled to implement a remote working strategy, which resulted in the company hiring personnel from all over the world. The Guanying Chen Disputation The Binance CEO Changpeng Zhao said that Guanying Chen, a Chinese national, was one of the peop...
