Binance CEO ChangPeng (CZ) Zhao detailed the relationship between the world’s largest crypto exchange and Guangying (Heina) Chen in a blog post, along with a history of connections to China. In the post, CZ referred to recent media attacks and negative competitor campaigns as conspiracy theories undermining industry trust.
Binance was target by the media in conspiracy theories
In response to media inquiries about Guangying Chen, a Chinese national at the time, CZ stated that she was listed as the legal representative of Bijie Tech, an IT company he founded in China two years before Binance. He explained that this was done to ease restrictions on businesses owned and operated by foreigners, such as himself, a Canadian citizen.
Binance discontinued operations in China in 2017 and no longer provides services there. Binance’s CEO stated that the company operates similarly to any globally distributed company with many subsidiaries and that the company is neither legally nor culturally Chinese.
Binance’s executive team is now dominated primarily by Europeans and Americans. Our broader workforce is even more globally dispersed. Despite these facts, some insist on referring to us as a “Chinese company,” and they don’t mean well.
CZ stated that his Chinese origin should not give people “free rein to cast aspersions” on him or the company when describing his journey as an immigrant from China to Canada at the age of 12 and the path that led him to become the CEO of Binance. A recent question from a Washington Post reporter prompted claims that Binance was working with the Chinese government.
