Changpeng Zhao Uae city Abu Dhabi Binance business Cryptocurrencies Funding Middle east Changpeng Zhao Uae city Abu Dhabi

Binance CEO denies report firm met with Abu Dhabi investors for crypto recovery fund

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Changpeng Zhao, chief executive officer of crypto exchange Binance, has denied a report claiming he met with investors in Abu Dhabi in an effort to raise cash for the company’s crypto recovery fund.According to a Nov.

22 report from Bloomberg, CZ and others affiliated with Binance discussed raising cash for its proposed fund, aimed at helping projects with potential liquidity issues.

Zhao and the Binance team reportedly met with potential backers associated with United Arab Emirates National Security Adviser Sheikh Tahnoon bin Zayed, while a Binance spokesperson said the meetings were “focused on general global regulatory matters.” CZ pushed back against the report on Twitter, saying only it was "false."The Binance CEO first announced the fund on Nov.

14 following FTX’s “liquidity crunch” and bankruptcy filing. It’s unclear how large the crypto exchange intended the fund to be.

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