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Binance was neither incorporated in china nor do follow Chinese work culture: Binance CEO

On September 1, Changpeng Zhao, Binance CEO in a blog, reacted to accusations that his firm, Binance, is owned by “Guangying Chen”, a Chinese undercover agent, and hence owes its faithfulness to the Chinese government.

Binance CEO, in a blog said, he left China when he was 12 years of age and since then naturalised himself as an occupant of Canada, and when the Chinese government shut down his earlier firm, Bijie Tech, then CZ proceeded to establish Binance in 2017.

In addition to that Changpeng Zhao states that since the establishment of Binance in 2017, Binance has become a firm, having worldwide diversified team members.

However, many media channels still misrepresent it as a “Chinese firm.”

CZ went on to say that his being ethnically Chinese and having employees that are ethnically Chinese doesn’t equate to “privately” being in “the Chinese government pocket.”

Changpeng Zhao said, “Binance was neither incorporated in China nor do we work culturally like a Chinese organisation. We have subsidiaries in numerous nations, but we have no legal entities in China and we don’t have plans to.”

The Binance CEO further added that his birthplace and nationality ought not to be a “scarlet letter” that trails him until the end of his life.

“Nor should it give individual free rein to project aspersions, lay bogus claims, or question one’s faithfulness to their country.”

The blog post was written just after a former Washington Post journalist questioned a Binance executive: “who is Guangying Chen?”

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