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The chief executive officer of the Binance crypto exchange explained the whole problem that exchange & he is facing because of his identity as a Chinese person.

Changpeng Zhao is the founder and CEO of Binance exchange. Binance is a first-ranked crypto exchange in the crypto industry. Many times, critics targeted Binance exchange as a Chinese crypto platform and claimed that Binance is an illegal platform designed in China, even though Binance was launched in 2017 as a non-Chinese platform by Zhao.

On 1 September, Binance exchange responded to the critics & rumors via a blog post and denied all the allegations. 

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As per allegations, Guangying Chen is an important player in the ownership of Binance exchange & Bijie Tech, a company founded by Zhao in 2015. 

Binance CEO Zhao said that Chen is his colleague and he met her via his other friend and also she worked as an employment officer manager at Binance & Bijie Tech companies. 

Few websites allege that Chen holds 93% shares in both companies of Zhao, on this Binance CEO said that all these are only rumors and part of the negative campaigns which were initiated by his rival companies via anonymous websites. 

Further on Binance as a Chinese company, Zhao strongly denied this allegation and said that he & his company are facing some hurdles because of the Chinese government. 

Zhao said:

“The greatest challenge that Binance faces today is that we (and every other offshore exchange) have been designated a criminal entity in China. At the same time, our opposition in the west bends over backward to paint us as a ‘Chinese company.’”

Zhao admitted that ethnically he & some of his employees are Chinese and these facts are helpful for those media & opponents to criticize Binance as a Chinese company. 

“We have ethnically Chinese employees, and perhaps because I am ethnically Chinese, we are secretly in the pocket of the Chinese government.”

It is worth noting that, when Binance vs Indian crypto exchange WazirX ownership conflict was in critical phase then at that time many Indian crypto Investors criticized the Binance exchange as a Chinese exchange and also favored the side of WazirX CEO Nischal Shetty and suggested not to hand over full power in the hand of Binance exchange.

Read also: Helium will shift to Solana blockchain & may not use its native blockchain

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