Binance is not a Chinese company: Changpeng Zhao

Changpeng Zhao, the founder and CEO of Binance, has revealed that his company will put in a fresh bid for the assets of collapsed crypto lender Voyager.

In an interview with Bloomberg on Thursday, the Binance chief fondly referred to as CZ within the crypto sector, also reiterated that the company has no ties to China.

Indeed, Zhao noted that whatever had gone on in the past with regard to accusations that Binance was a Chinese company had everything to do with people making assumptions based on his Chinese looks. FTX also had a hand in the rumours as it looked to keep Binance from bidding on the assets of collapsed crypto lender Voyager.

Binance US to bid for Voyager assets

According to Zhao, Binance US will make another bid for Voyager’s assets as FTX’s implosion means they can no longer follow through with an acquisition. As previously covered, FTX had received court approval for its proposed $1.4 billion purchase of Voyager assets.

On whether Binance US will be allowed to bid for the assets, Zhao said that its US-regulated affiliate had already participated in the previous Voyager bid and there were no issues.

“First of all, I think the US national security concerns were rumours spread by FTX to try to push us out of the bid. There was never any concern about us participating in the bid, or Binance US participating in the bid. So Binance US did participate in the Voyager bid, there was no issues. Binance also acquired multiple companies in America with no issues.”

On claims Binance had ties to China, Zhao reiterated:

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

I wonder how many times I will have to repeat this one in the future (thanks to SBF’s media/lobbying power)…

Binance is not a Chinese company. https://t.co/GtcElzPw9T

— CZ ? Binance (@cz_binance) November 24, 2022

In the wake of FTX’s bankruptcy filing, Zhao announced plans to launch a fund aimed at helping properly run crypto companies that fall into distress.

Zhao also confirmed the plan for the $1 billion fund was in the works and that if it happens the $ billion isn’t enough, Binance would be open to allocating more money to it. The fund will be open to industry players looking to co-invest in the project.

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