Changpeng Zhao discusses details about Binance’s mysterious office

As a part of the Ethereal Virtual Summit, Changpeng “CZ” Zhao, the CEO of Binance, was interviewed by podcaster Laura Shin. She asked Zhao about Binance’s office in China that was shut down after a visit by authorities. At the time, Zhao had said that the company did not have any offices - there or anywhere. When asked about it, CZ replied:

This is the beauty of blockchain, right? Where is the Bitcoin office? Bitcoin doesn’t have an office. We have people from around 50 places in the world.

He further said that offices, entities, headquarters and bank accounts “don’t have to exist for blockchain companies.” According to an earlier Decrypt report, class-actions lawsuits were filed against 11 crypto firms in April. Binance was one of them. The lawsuits accused these companies of misleading investors by selling unlawful securities in the form of digital tokens. To this, Zhao said that Binance’s lawyers have told him not to comment on the topic and that he believes in the “innocent until proven guilty” principle. He added that "having someone sue you is a normal part of the business process."

Discussing the present economic crisis caused by the pandemic, CZ that we’re witnessing “a perfect storm” for the crypto space, adding that the results of this period won't be known for a couple of years. 

I think that we’re seeing that there’s a strong recovery right now. I think over the next few months, maybe six months, 12 months, 18 months-ish, we’re gonna see a very, very significant impact.

I think more and more people are going to realize that there is unlimited cash flowing around. And the minute they get their cash, they’ll want to put it into something with limited supply. And the easiest thing to put that into is actually cryptocurrencies.

Zhao added that people across the world are becoming more aware of different economic impacts of governments’ actions. 

And right now we’re in a situation where there’s [the Bitcoin] halving going on, so there’s a perfect storm,” he said, adding, “So the supply will be very, very limited and more and more people come in. I think in the next 12–18 months we’re gonna see a really significant increase in adoption in the crypto space. 

In the interview, Zhao also revealed that he is currently in lockdown in Asia, but did not provide any further details for privacy reasons.