Binance CEO Changpeng Zhao is a bad actor or not
I first started using Binance in the early days of crypto and so did a lot of other people. I noticed a lot of things I did not like back then and believed that they would be closed down so I stopped using them. It has taken a long time for the SEC in the USA to smell the coffee in regards to Changpeng Zhao who is the CEO of Binance. He has basically become a billionaire and to be honest I don't think he cares less about the violations he is facing with the SEC. He would care if he was facing prison time but that is highly unlikely but not impossible. He will face big fines for things he has done if the SEC wins the case.
Binance started in China and China eventually banned Crypto in China but Binance customers in China continued using the Binance trading platform using supposedly dubious know your customer (KYC) instructions provided by employees of Binance. What I have just said/written is hearsay until proven. CZ is currently suing Bloomberg for defamation. Binance moved to Tokyo and then to Malta. I am not sure if CZ is welcome in China and if he would be detained if he returned. I read that CZ was born in China but moved to Canada when he was 12 years old. I can not confirm this.
In the early days US citizens used his offshore trading platform that was not based in the USA and that was going to cause problems for him so CZ decided to eventually set up camp in the USA. CZ now has the SEC chasing him for numerous matters in the United States and he has set off alarm bells in other jurisdictions such as Brazil for questionable business practices. I don't regard this article as having enough grunt for CZ to file a defamation case against me but I don't discount it.
In addition, it is said that he (CZ) rules with an iron fist at Binance and it is his way or the highway. In other words do what I say or get out. Again, this is hearsay and not proven.
CZ is in the spotlight and time will tell his story.
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