Binance Co-Founder He Yi denied the rumors started by a Chinese FinTech media platform saying that the crypto exchange giant wanted to build its own blockchain-powered country on a private island.
Yibencaijing, the media platform, had supported the news with information from “insider sources” who have told Yibencaijing that Binance had already bought an island for the alleged blockchain country. The media platform says that this plan may be due to the exchange being given a hard time by regulators of other countries like Japan and Hong Kong.
Though He Yi does admit that the company’s vision involves the promotion and legalization of blockchain and cryptocurrencies around the world, he dismisses all the allegations, saying:
“The article is maliciously tarnishing the image of Binance and caus[ing] regulators in the country to have a bad impression of Binance. To create a country? It is absolutely absurd to fabricate such a story.”