Binance CEO Changpeng Zhao (CZ) responded to Reuters theses about regulatory compliance. The CEO also lashed out at the journalist for arguing that they would report on their children.
Binance and Binance USA
Changpeng Zhao (CZ) spoke to a Reuters journalist today over some of his arguments about the stock market over the past few months. The executive said the reporter wrote several articles about the stock market based on anonymous sources. He also noted that they had recently crossed into “vulnerable territory” with interrogation lines.
“How Binance CEO and his aides planned to circumvent regulators in the US and UK.” His most recent article, titled The article claims that Binance is trying to ‘save’ itself from regulators like the SEC. He also claimed that his CEO is both ‘obsessed with confidentiality’ and ‘attentions to minor operational details’.
In return, Changpeng Zhao referred to a public document about a set of principles he followed. In this context, he rejected the implication that he was a ‘tyrant’ or a ‘secret’ leader. He also talked about the arguments about the “Tai-Chi Powerpoint”, a plan for how to establish Binance as a US entity.
According to Reuters, the proposal put forward by an entrepreneur named Harry Zhou suggested that Binance set up another US entity that complies with the Bank Closure Act. The organization will have less features and liquidity on its surface than Binance’s main exchange. However, US customers will have the opportunity to access the latter using virtual private networks (VPN). In this way, by taking advantage of an ‘openness’, they will overcome the drawbacks of the regulations. However, according to CZ, Binance never followed the plan. Binance CEO made the following statement regarding the issue:
I personally refused. The entire PowerPoint is only seven slides long. It is devoid of any random routing on which to process. Also, she looks like a 5th grader who brings a middle.
Changpeng Zhao said they founded Binance USA on the advice of US law firms. He also added that the arguments in the article are still a different entity than Binance.com, on the contrary.
“Now they have passed the end”
CZ said that while Binance normally answers questions from journalists, it prefers not to respond to requests for comment on the latest Reuters article. According to him, the reporter signaled an intent to discuss his children. About this bet, CZ used the following terms:
We did not receive any assurance that this Reuters reporter would refrain from writing about my family. So we took the unusual step of not responding directly to them once again. Instead, we bring the story straight to the community.
Koindeks.com As you follow, Changpeng Zhao published a sample blog post in September against the media claims that Binance is a Chinese company. In the middle, earlier this month, Binance was licensed to provide crypto services in Kazakhstan.