Forbes: Cryptocurrency exchange Binance may be run by an unknown woman

Forbes journalists conducted an investigation into the cryptocurrency exchange Binance. The media suggested that the current CEO Changpeng Zhao did not have the final say in the platform’s key management decisions.

A judicial investigation initiated by the U.S. Securities and Exchange Commission (SEC) intoBinance showed that the platform’s activities are significantly influenced by a shadowy leader who may be behind questionable transactions, according to the SEC. Most likely, this is Guangyin Chen, aka Haina Chen.

According to Forbes, Chen runs eight companies that are closely associated with Binance. Dozens of bank accounts belonging to at least 27 organizations registered in 13 jurisdictions have been opened under the top manager’s signature.

Forbes journalists, citing former Binance employees, assure that it was Chen who controlled the financial activities of companies that have transferred more than $ 148 billion since 2019. «She is the real CFO. Whatever happens, whether it’s a transfer of funds or a letter confirming funding, everything comes only with her knowledge, as she is the authorized person for all banking operations,» one of the sources assured journalists.

Guangyin Chen is not present in the public space and does not have any significant official title at Binance. A Forbes investigation notes that the progenitor of Binance, Shanghai Bijie Network Technology, is 93% owned by Chen, where she is listed as CEO.

The journalists emphasize that Bijie Tech, which owned Binance at the time of launch, as well as assets in BNB tokens, was originally owned by Guangyin Chen, not Changpeng Zhao. As a result, the woman is the owner of the entire Binance ecosystem.

Forbes writes: «This legal aspect was hidden from the public at the time of the launch of the Binance exchange and the BNB ICO, as the white paper did not mention the identity of Guangyin Chen. Moreover, data on the company’s corporate structure, as well as references linking Binance and Chen, even personal information and personal photos, are being carefully scrubbed from the public domain.» Citing unnamed sources, Forbes journalists cite data that since 2012, Changpeng Zhao has been working for Guangyin Chen as a hired director of Shanghai Xuanteng Investment Management Consulting.

Rumors that Chen was secretly controlling Binance began to spread in 2020. The reason could be a previously published statement by Chinese law enforcement agencies on the results of an investigation into Shanghai Bijie Network Technology. Chinese police documents state that Guangyin Chen is accused of offering unregistered securities on the Binance exchange platform.