Binance Founder Champions Middle East as New Crypto Hub

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Zhao Changpeng

Zhao Changpeng, the Chinese founder of Binance, the world’s largest cryptocurrency exchange, attended a crypto event in Bahrain on Sunday, highlighting the Middle East's growing appeal as a hub for digital assets.

The billionaire, who founded Binance in 2017, expressed optimism about investment opportunities in blockchain, AI and biotechnology in the Gulf region, adding: “A lot of people don’t know how good it is here.”

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Zhao Changpeng, founder of Binance, spoke at a Bahrain crypto event, highlighting the Gulf's appeal for digital asset investments, particularly in blockchain, AI, and biotechnology.
Despite stepping back from active management at Binance, Zhao remains optimistic about crypto growth in the Middle East and purchased a $13.5 million Dubai apartment in 2021.
Zhao, recently released in September after serving a US sentence, maintains billion-dollar wealth and is a significant shareholder at Binance, valuing him at around $19 billion.

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Who’s Who

Binance: Binance, founded by Zhao Changpeng in 2017, is the world's largest cryptocurrency exchange. The company has been authorized in Bahrain as a crypto asset service provider and for banking. Zhao, though no longer heavily involved operationally, remains a major shareholder. Recently, he served a four-month U.S. prison sentence for permitting cybercriminals and terrorists on the platform. Despite these challenges, Binance continues to expand in favorable regulatory environments like the Middle East.

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