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Binance is not a Chinese company: Changpeng Zhao

Binance is not a Chinese company: Changpeng Zhao

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Binance founder and CEO Changpeng Zhao has revealed that his company is making a new bid for the assets of the collapsed crypto lender Voyager.

In an to interview Speaking to Bloomberg on Thursday, the head of Binance, fondly referred to in the crypto industry as CZ, also reiterated that the company has no ties to China.

Indeed, Zhao pointed out that whatever had happened in the past with accusations that Binance was a Chinese company had everything to do with people making assumptions based on his Chinese appearance. FTX also contributed to the rumors because it wanted to prevent Binance from making bids for the assets of the collapsed cryptolender Voyager.

Binance US to bid for Voyager assets

According to Zhao, Binance US is making another bid for Voyager’s assets because the collapse of FTX means they can no longer complete the acquisition. As previously mentioned, FTX had received court approval for its proposed $1.4 billion purchase of the Voyager assets.

Zhao said if Binance US is allowed to bid for the assets, its US-regulated subsidiary had already participated in the previous Voyager bid and there were no problems.

“First of all, I think the US national security concerns were rumors spread by FTX to try to push us out of the bid. There was never any concern that we would bid or Binance US would bid. So Binance US bid for Voyager, there was no problem. Binance bought also several companies in America with no problems.”

Regarding the claims that Binance had ties to China, Zhao reiterated:

“Binance is not a Chinese company. We are not associated with China at all. I have to repeat it many times just to look Chinese, but I have been a Canadian citizen for thirty years.

After FTX filed for bankruptcy, Zhao announced plans to establish a fund with the purpose of helping struggling crypto companies run properly.

Zhao also confirmed that a plan for a $1 billion fund is in the works and that if that happens, $1 billion is not enough, Binance would be willing to allocate more money to it. The fund is open to industry players who want to participate in the project.

The post Binance is not a Chinese company: Changpeng Zhao appeared first on Invezzi.



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