With more troubles brewing for Binance as fresh investigations emerge, CEO Changpeng Zhao (CZ) has hit back at critics who claim that the platform is “Chinese.”
In a blog post, the company chief specifies that the executive team is now dominated primarily by Europeans and Americans while the broader workforce is more globally dispersed.
CZ adds, “The inference is that because we have ethnically Chinese employees, and perhaps because I am ethnically Chinese, we are secretly in the pocket of the Chinese government.”
“We are an easy target for special interests, media, and even policymakers that hate our industry,” the CEO alleges.
Binance chief points finger at competitor
Binance has a history of being pulled up by regulators globally as the largest exchange by volume. Recently, the exchange was asked to produce information pertaining to money laundering checks and conversations between significant individuals within the company, including Zhao, by federal prosecutors working for the U.S. Justice Department.
Addressing some of the theories around Binance, CZ also hints at an “old campaign” to tarnish the brand allegedly launched by competitors through an anonymous microsite.
Looking back at his childhood, CZ said: “The irony that I was once again forced to leave China – approximately 30 years after my parents fled with my sister and I – was not lost on me.””
The “Chinese Canadian CEO” noted, “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.”
Zhao argues other exchanges were set up in Hong Kong
Zhao only returned to China from Canada in 2005, when the “web tech industry started to explode” in the country. He also revealed that since the Chinese government “helped bolster
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