Binance CEOChaopeng Zhang recently revealed purchasing his first home in Dubai.- He also confirmed the possible closing of a multi-million dollar funding round of Binance.US soon.
- Zhang spoke at the Bloomberg New Economy Forum in Singapore on Friday.
The CEO and founder of Binance, Chaopeng Zhang, recently revealed a big-ticket purchase and confirmed the possible closing of a multi-million dollar funding round soon.
"The government there is very progressive, and it's a very good business environment," he told Bloomberg Friday on the sidelines of the $4 in Singapore. "I want to show that we are committed to the place, so I bought an apartment there" in October.
The purchase comes despite his repeated vows to avoid any attachments to material possessions. On Friday, the 44-year-old billionaire reiterated plans to give away more than 90% of his wealth.
Meanwhile, the location of CZ's home may offer some hints as to where Binance may eventually establish a physical headquarters as it seeks to appease global regulators. But he declined to comment on this further during the forum.
Binance co-founder Yi He told Insider in $4 that the world's top
On Friday, CZ also confirmed that Binance.US, an affiliate of Binance, may raise a "couple hundred" million dollars in a funding round that is expected to close in the next few months. After this, the firm is considering going public.
"Now there is a playbook," he said during the Bloomberg forum. "Coinbase did it. It's very simple. Let's do everything Coinbase did — compliance-wise, etc — hopefully for cheaper."
Coinbase, the largest crypto exchange in the US, had its stock market debut in $4 in what was seen as a watershed moment for the crypto industry.
CZ also clarified that Binance.US and Binance.com — two entities that have often been subject to some confusion — are completely separate.
"They are two very independent organizations," he told Bloomberg. "I am chairman of the board for Binance.US. That is probably the only linkage between the two organizations."