Binance co-founder Changpeng Zhao (CZ) has refuted claims that the exchange has asked its UAE-based staff to relocate to safer locations amid the ongoing geopolitical tensions. On Friday, CZ said these rumours are “misleading” that being propogated to tarnish UAE’s image in the face of adversities.
On Friday, reports started to circulate that claimed that Binance asked its UAE-based employees to opt for voluntary relocation at a time when the Middle East is gripped with tensions prevailing amid Iran and Israel.
The exchange offered its UAE-based employees the option to temporarily relocate to one of four cities: Hong Kong, Tokyo, Kuala Lumpur, or Bangkok, CoinDesk reported. Quoting a Binance spokesperson, the report said Binance took the decision as a precautionary measure to offer work flexibility amid the simmering uncertainty.
Binance’s UAE presence reportedly controls a staff of over a 1,000 employees. According to Coindesk, the company spokesperson also added that a majority of its UAE employees have chosen to stay put.
Snubbing the reports, CZ said that Binance has been maintaining a flexible work approach with reasonable relocation packages.
“I personally think UAE remains one of the safest countries in the world, far safer than many touristy countries in the world,” CZ said.
In a bid to make his point stronger, CZ also said he could soon host a signing event for his newly released memoir titled “Freedom of Money” in Dubai.
However, he did not exactly deny that the exchange has indeed given four alternate city options for its UAE staff members to relocate to.
Binance recently snapped out of its nomadic corporate structure to reportedly finalize UAE capital Abu Dhabi as its HQ location between 2025 and 2026. Binance has not officially announced the development as yet. CZ himself is believed to have moved to Dubai back in 2021 after which he was reportedly granted a citizenship as well.
Coin Headlines has reached out to Binance UAE to get more clarity on the reports. The responses remain awaited for now.
As per Gulf News, the UAE air defences engaged a total of 537 ballistic missiles, 26 cruise missiles, and 2,256 UAV’s since the start of the Iran-Israel conflict on February 28.