The post Binance Founder CZ Denies Role in Kyrgyzstan’s New ‘Bereket’ Crypto-Bank After President’s Claim appeared on BitcoinEthereumNews.com.

Changpeng Zhao denied reports that he had proposed creating a crypto bank in Kyrgyzstan, calling the claims inaccurate. The rumor started after Kyrgyz President Sadyr Japarov mentioned Zhao in connection with a planned Bereket Bank project. Binance co-founder Changpeng Zhao (CZ) has refuted rumors that he proposed establishing a private cryptocurrency bank in Kyrgyzstan, calling them inaccurate and exaggerated. The controversy started when Kyrgyz President Sadyr Japarov mentioned CZ in reference to an institution called Bereket Bank. CZ Calls Reports “Incorrect” and Downplays Speculation CZ responded to the allegations directly on X, stating that he never proposed the creation of a bank in Kyrgyzstan.“This isn’t correct. Not quite ‘4’ FUD level, but still wrong. I never proposed creating a bank myself,” he wrote. Zhao explained that although he is open to traditional banks cooperating with the crypto space, he has no plans to operate such a bank himself. Source:X He added that the name mentioned in reports was unfamiliar to him, and he only made general comments on encouraging banks to embrace digital assets. The exchange founder later joked in a follow-up post, responding to a user’s comment about him starting a lemonade stand in Bishkek, saying, “I might have ‘proposed’ that.” Origin of the Bereket Bank Rumors The confusion stems from recent remarks by President Japarov in which he said CZ had proposed a new financial institution that would attract foreign capital and serve as a hub for digital asset operations. Japarov says he would have preferred to open a state-owned bank, but when CZ rejected the idea, “we agreed to open a private bank,” which became Bereket Bank. The head of state stressed that the bank is a private business project that is expected to attract considerable investment into the country. Amid widespread backlash and reports from online…

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Filed under: News - @ November 3, 2025 9:26 am