Ukrainian cryptocurrency Michael Chobanian, founder of KUNA, the world’s largest cryptocurrency exchange Binance’s He claimed that he had been collaborating with the Russian government for a while despite all the sanctions.
“Changpeng Zhao Must Decide Whether To Deal With Ukraine Or With Russia”
In an interview on Friday, Chobanian stated that Binance CEO Changpeng Zhao must decide which side to take after Russia’s invasion of Ukraine:
“The problem with Binance is not just that they work with both parties. They showed that they were cooperating with the Russian government before the war and they are still working with the Russian government as far as I know.”
Binance, the world’s largest cryptocurrency exchange by volume, announced in February that it has no plans to ban Russian users on the platform, but that they will take action against those who are sanctioned.
There was no response from Binance to these claims of Chobanian.
However, Ukrainian KUNA exchange founder Chobanian did not show any evidence that Binance is actively working with the Russian government, but it has long been known that the Russian market is important to Binance.
In his statement in 2019, Zhao described Russia as “our key market” and said that “we are always looking for partners in all communities, especially in Russia”. In a recent interview, Changpeng Zhao said that financial sanctions are not a “cryptocurrency-specific problem” and stated that it would be “unethical” to kick all Russian users from the platform.
On the other hand, Russian authorities make complex statements about cryptocurrencies. The Central Bank of Russia is demanding a full ban instead of regulating cryptocurrencies.
“Binance Didn’t Send Its Promised $10 Million Aid”
Chobanian also noted that the $10 million donation Binance promised in February has not yet arrived in the country:
“They said they donated $10 million to the Ukrainian government. I’ve never seen 10 million dollars. No one knows where that money went.”
*Not investment advice.