Kyrgyzstan President Sadyr Japarov recently disclosed that Binance founder Changpeng Zhao (CZ) had proposed the creation of a private digital asset bank named Bereket Bank, aimed at attracting large foreign investments and focusing on virtual assets. Japarov emphasized that the bank is a private business project with no government or family involvement, and he confirmed that CZ had suggested making it a state bank, but CZ declined, leading to an agreement for a private bank. The President also revealed that Kyrgyzstan launched a stablecoin, KSGT, pegged to the country's som currency, and is advancing plans for a central bank digital currency (CBDC), with CZ having signed a cooperation agreement with the National Investment Agency in April.
However, CZ publicly denied these reports on social media platform X, stating that the claim is incorrect and that he never proposed creating a bank. He clarified that he has no interest in running one and does not recognize the name 'Bereket Bank.' CZ humorously addressed the misunderstanding, suggesting it might have stemmed from his support for crypto-friendly banks, but emphasized that he is not involved in any such venture. The denial sparked reactions from the crypto community, including memes and discussions about the spread of misinformation in the industry.
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