Changpeng Zhao is leading one of the largest public relations campaigns in Binance history, as the company seeks to transition from a “decentralized” technology company to a centralized financial services company.
The Binance CEO recently conducted a number of high-profile interviews, speaking to Bloomberg TV, CNBC and Associated Press, among others. Binance has also placed its very first advertisement in the Financial Times, to propose a crypto rights charter.
The PR campaign is part of a larger plan to legitimize Binance in the eyes of regulators as the company seeks to launch a number of fundraising events in the near future, the first of which has take place in the United States.
On CNBC last week, Zhao discussed Binance’s long-term strategic vision as the company seeks to get out of the crypto cold to warmly embrace financial regulation.
“Right now, we are at a turning point. We need to move from a technology company to a financial services company, ”CZ said. “It’s very clear that for a centralized exchange, we need a centralized structure, so we set up head offices, offices, regional headquarters and local branches. Regulators don’t know how to work with decentralized structures. So we are putting all these centralized structures in place now.
To define the right background music for US regulators, the Binance chief added, “We are convinced that regulations are good for this industry.”
Binance is currently reviewing 3-5 locations for major regional headquarters around the world. During an appearance on Bloomberg TV, the Binance chief revealed that fundraising is one of the reasons physical locations will be increasingly important to the business in the near term.
“I think the first one who will complete the fundraiser is probably Binance.US – they operate relatively independently, although I am the chairman of the board,” CZ said. “I think they will complete a [fundraising] round in a month or two. It is therefore the first. If this goes well, and we think it will, then we will repeat this exercise in different parts of the world. “
While regulation and physical locations are the key to unlocking new short-term foreign investment, strategy is also part of a long-term game. During the interview to CNBC, CZ offered hints as to how the coins fit together and gave a hint about the crypto exchange’s possible endgame.
“Today, if we look at where all the wealth is, most of the wealth is still found in traditional financial systems. We need to build a bridge between these two, and Binance wants to be the bridge between these two industries, ”CZ said.
Reduced costs and success
During the recent PR blitz, interviewers were keen to draw CZ to Binance’s value as well as his personal wealth. In each case, the head of Binance deflected or downplayed these types of questions.
At Bloomberg Forum on the New Economy last week an interviewer even suggested that CZ might be one of the richest people in the world.
“I’m not sure about that to be honest, and I don’t really care about wealth or money,” CZ replied. “I pledge to give 90% of my wealth,” he added.
“We [Binance] are already profitable, so we can consider charging an even lower fee. We are thinking about it right now, ”he said. “I don’t believe in maximizing profits, nor do I believe in maximizing short-term shareholder value. I believe in growing the industry, providing the best value to our users, and then we will grow and in the long run and we will truly maximize shareholder value, ”he explained.
The host replied, “Sounds a lot like Jeff Bezos to me.”
As the magnitude of the Binance CEO’s ambition was finally unveiled, CZ said, “I don’t know him personally, but I would like to be as successful as him in the future.”
What do you think of this topic? Write to us and tell us!
All information on our website is posted in good faith and for general information purposes only. Any action that the reader takes on the information found on our website is strictly at his own risk.