Binance Co-founder CZ Denies Proposing Crypto Bank In Kyrgyzstan
**CZ Denies Rumors of Proposed Crypto Bank in Kyrgyzstan**
Recently, rumors circulated across crypto circles claiming that Binance Co-founder Changpeng Zhao (CZ) planned to launch a private crypto bank in Kyrgyzstan. The reports suggested that Zhao had proposed setting up “Bereket Bank,” a digital asset-focused institution aimed at attracting foreign investments.
However, CZ quickly debunked these claims, stating that he never suggested or intended to create such a bank.
### CZ Publicly Rejects Bank Proposal Claims
Responding to the reports on X (formerly Twitter), CZ called the rumors inaccurate. He stated, “This isn’t correct,” clarifying that while he supports banks working with crypto, he has “no interest in running one.” He also mentioned that he had never even heard of the name “Bereket Bank,” which was central to the rumor.
CZ’s denial came after several social media posts began implying that he planned to establish a crypto-focused bank in Kyrgyzstan. Given CZ’s global reputation and influence in the crypto industry, the news spread rapidly. Nonetheless, CZ confirmed the information was false and likely stemmed from a misinterpretation of his general support for crypto banking initiatives.
### Origin of the Misunderstanding
The confusion originated from a post by Coin Bureau, a popular crypto content platform, which claimed that CZ had proposed “Bereket Bank” in Kyrgyzstan. The post outlined that the bank would focus on digital assets and attract foreign capital, without any political or family ties.
This message quickly gained traction within the crypto community, leading many to assume CZ had officially announced the plan. In response, CZ took a light-hearted approach, acknowledging that while he may have expressed wishes to see more banks support crypto, such statements should not be mistaken for formal proposals.
### Community Response and Clarification
Following CZ’s clarification, the topic continued trending on various crypto platforms. Many users engaged with jokes and memes. One post humorously stated, “Next up: CZ spotted opening a lemonade stand in Bishkek,” to which CZ replied, “I might have proposed that.”
Despite the humor, several community members emphasized that supporting the concept of crypto banks does not equate to launching one. CZ reiterated his encouragement for the development of crypto-friendly financial institutions but made it clear that he does not intend to operate any banks himself.
This distinction highlights CZ’s stance on promoting financial innovation while maintaining a separation from direct business involvement in such ventures.
### No Evidence Linking CZ or Binance to Kyrgyz Bank
Currently, there is no confirmed connection between CZ, Binance, and any banking project in Kyrgyzstan. While the Central Asian country has shown interest in integrating digital assets into its financial system, neither Binance nor its leadership has announced any formal initiatives in this direction.
Reports suggesting that “Bereket Bank” is led by CZ lack support from official sources. Binance has not issued any statements indicating involvement in such a plan.
This episode underscores how swiftly unverified information can gain traction within crypto communities, highlighting the importance of verifying news before accepting it as fact.
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*Stay tuned for verified updates from Binance and CZ regarding any future developments in crypto banking.*
https://coincentral.com/binance-co-founder-cz-denies-proposing-crypto-bank-in-kyrgyzstan/
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