Binance founder CZ seeks to clarify 'misunderstandings' about his role

Binance founder Changpeng 'CZ' Zhao is actively working to reintroduce himself to the U.S. and dispel what he perceives as misunderstandings about his identity and his relationship with the exchanges he founded. In an interview, CZ stated his mission is to engage with people who want to understand Binance and himself better, emphasizing that he is not pushing day-to-day operational buttons at either Binance or its U.S. affiliate, Binance.US.

CZ articulated a vision for Binance.US to break the dominance of a few leading exchanges and offer lower-cost services by leveraging the global exchange's liquidity. He argued that U.S. consumers currently face higher prices and slippage due to a lack of access to the best liquidity, and that improving this is crucial for the U.S. to become the 'capital of crypto.' He noted that while other countries are also welcoming crypto, the fact that 80% of global GDP is outside the U.S. means relying solely on domestic growth may not be sufficient.

Despite being the single largest shareholder in both Binance and Binance.US, CZ maintained that he does not run the day-to-day operations. He described Binance and Binance.US as two separate companies with independent leadership, though Binance.US licenses technology from Binance Global. CZ believes a local individual is better suited to run the U.S. platform, stating he is not the best candidate for such a role. He also mentioned that his partner, Yi He, who is a co-CEO of Binance, and he maintain separate work lives, even at home.

CZ indicated his preferred role is to informally advise founders and companies he has invested in, rather than taking executive positions or joining formal advisory boards. He monitors high-level metrics like user numbers, trading volume, and the Bitcoin price as indicators of the exchanges' performance, stating he does not delve into detailed financial statements.