Changpeng “CZ” Zhao, the CEO of the world’s largest cryptocurrency market, purchased a house in Dubai last month, which he defined as “extremely pro-crypto” city.
He said, “I purchased a house there to indicate that we are dedicated to the place,” without specifying the cost. Zhao said in an interview earlier this year that he didn’t possess a house or a car because he considered them “illiquid.”
His decision of residence might reveal the location of Binance’s headquarters. Instead, Zhao has built enterprises in countries where Binance operates, including as Singapore, where he has lived for the last two years.
Binance has picked a location for its global headquarters, he told Erik Schatzker in a later interview at the Bloomberg conference, and he would reveal it once he has spoken with regulators.
Zhao stated, “I’m not saying this will be our future headquarters.” “However, if you look at the United Arab Emirates, France, and Singapore, you’ll notice that they’re all quite pro-crypto.”
While Zhao plans to spend more time in the Middle Eastern economic powerhouse, he remains committed to Singapore, where a local affiliate has applied for an official operating license.
Dubai is competing with Singapore, Switzerland, and other countries to become a global center for crypto assets trading by establishing a free zone.