Changpeng Zhao, ex-CEO of Binance, criticises Europe’s slow adoption of cryptocurrencies while noting strong progress in the UAE and Bhutan. He highlights the exception of Montenegro’s supportive stance on crypto, yet sees most of Europe lagging behind. Post-resignation, Zhao now focuses on education.
Changpeng “CZ” Zhao, the former CEO of Binance, has expressed disappointment with the slow adoption of cryptocurrencies in Europe. Speaking at the Token2049 conference in Dubai on April 30, he remarked that many European nations are lagging significantly behind in this domain. In contrast, he pointed out that locations like the United Arab Emirates are embracing digital currencies with open arms, leading to notable advancements in places like Dubai.
Zhao shared that while UAE has a strong pro-business environment that fosters crypto growth, other countries, including Bhutan, are actively accumulating Bitcoin (BTC) and Ether (ETH). He hinted that the United States is taking a proactive stance by contemplating a crypto reserve and pushing for adoption internationally, yet European nations appear to be unresponsive to these developments.
“I don’t see Europe in this discussion,” Zhao stated during his address. He did, however, make an exception for Montenegro, which he described as quite supportive of crypto initiatives. Zhao mentioned his positive engagement with the prime minister of Montenegro, acknowledging him as a forward-thinking leader in this arena, but did not see other European countries following suit.
Since stepping down as Binance CEO in November 2023 amid legal troubles in the U.S., Zhao has redirected his focus towards educational efforts through his platform, Giggle Academy. Having spent four months in prison related to charges against the exchange, his shift in priorities appears to reflect a desire to distance himself from past controversies.
This story is evolving, and updates will be provided as more information surfaces.
