Binance France, the leading cryptocurrency exchange’s branch in the country, has made a shocking move by completely removing company founder Changpeng Zhao from his ownership stake!
Binance France, one of the leading crypto exchanges, is taking no chances with its reputation by implementing a strict policy against criminal involvement in their company.
The decision was made to secure their position in the thriving European market, where they hold a prominent spot as the second-largest economy. According to Pappers information service, Binance France has welcomed new shareholders, Yulong Yan and Lihua He, who each hold a 50% stake in the company. Interestingly, Lihua He has a history with Binance, having previously served as their Chief Product Officer.
Step into the world of crypto and meet Yulong Yan, the visionary co-founder of Bijie Tech. This innovative company, created even before the rise of Binance, revolutionized the software industry for crypto exchanges. However, in 2017, the company was forced to close its doors.
But the intrigue doesn’t end there. Rumors have been swirling about Binance France’s ownership, with no official information being revealed by the exchange’s representatives. In a cryptic statement, the platform hinted at a major shakeup in the company’s share and group structure, citing global restructuring and compliance with local regulations. What could this mean for the future of Binance and the crypto world? Only time will tell.
“The new shareholders of Binance France are co-founding members of the Binance team, neither of whom have been involved in any historical issues. They each hold 50% of the capital of Binance France. This change will have no impact on the daily operations of Binance France and will not affect users.”
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In a shocking turn of events, AMF delivered a devastating blow to the company’s management in December 2023. Their announcement? Zhao, the once-trusted owner, was no longer fit to hold the reins. The reason behind this unexpected decision? The explosive charges brought against him by the U.S. Department of Justice and the U.S. Commodity Futures Trading Commission. The future of the company now hangs in the balance as the truth behind Zhao’s actions comes to light.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.