The CEO of Binance Changpeng Zhao(CZ) once again clarified to the world that Binance is not a ‘Chinese company’ and that it “was never incorporated in China.”
In a recent blog post, CZ wrote, “some people insist on calling us a “Chinese company,” and in doing so, they don’t mean well.”
He further said, “Binance was never incorporated in China. Nor do we operate like a Chinese company culturally…we don’t have any legal entities in China, and we do not have plans to.”
Zhao goes on to tell his history, according to which he left China when he was 12 and emigrated to Canada.
He went back to China and started Binance in 2017, however had to once again leave the country when it banned all crypto exchanges in September 2017.
He also wrote that “the greatest challenge that Binance faces today is that we (and every other offshore exchange) have been designated a criminal entity in China.”
Binance has created a respectable global presence over time and developed subsidiaries in various countries including France, Spain, Italy, United Arab Emirates and Bahrain.
Read Also: Zhao Says Hiring More Regulatory Staff Is His Top Priority
He ends his blog post by saying that by “simply being of Chinese descent or having emigrated from China should not be a scarlet letter one has to wear for the rest of their life. Nor should it give people free rein to cast aspersions, lay false claims, or question one’s loyalty to their country.”
