CEO of Binance – Changpeng Zhao (CZ) – has released a statement on Binance blog to demystify the company’s relationship with China. He stated that Binance is not a Chinese company and that any conspiracy theories of a Chinese employee secretly running the business are fake.

CZ began by recounting his personal history with the China. He and his family fled from China to Canada when he was just 12 years old. This was only two months after the June 4th 1989 events. CZ moved back to China in 2005 and later started an exchange-as-a-service company called Bijie Tech in 2015. However, the Chinese government shut down all of such exchanges in March 2017, forcing him to close down business.

On 4th September 2017, the Chinese government then imposed a similar unilateral ban on all crypto exchanges operating in China. This was just a month and a half after CZ and his team started Binance. This forced CZ and Binance to adopt a remote working model which led to the company hiring staff from across the globe.

According to CZ, one of the employees that worked for him at Bijie Tech was Guanying Chen, a Chinese national. CZ listed her as the company’s legal representative at the time due to China’s restrictive laws surrounding foreigners like himself. Recently, many articles have insinuated that Binance is deeply connected to China because of its origins. One such piece even specifically suggested that Binance should be banned in India because it was being led by persons of Chinese origin.

CZ stated that Chen had to leave China in 2017 but that many Chinese outlets still spread conspiracy theories about her, which certain tabloids pick up on intermittently. Today, Chen and lives in a European country and oversees Binance’s admin and clearing team. CZ stated that Chen is not a secret Chinese government agent and that Binance is not a Chinese company despite attempts from western opposition to paint it so.

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