Former Binance CEO CZ shared news related to billions of dollars worth of Bitcoin held by UAE authorities.
The United Arab Emirates (UAE) is a federation of seven emirates located in the Middle East, along the Arabian Peninsula. Dubai is a popular city in the United Arab Emirates and is known as the world center of trade and tourism. Four years ago, cryptocurrency trading was banned for UAE citizens, but later, Dubai authorities started an initiative to allow citizens to trade cryptocurrencies, but with certain conditions, including knowledge of the volatility of the currencies. cryptocurrency prices.
On December 22, 2024, Changpeng Zhao (CZ), co-founder and former CEO of crypto exchange Binance, shared a link to a website about Bitcoin holdings in the UAE.
CZ noted that the United Arab Emirates currently holds almost $40 billion worth of Bitcoin.
However, the shared source lacks information related to the official source, but CZ said that he is also surprised and not sure if it is true or not, but he drew attention towards the list of rich people living in the UAE .
A Crypto In response, CZ said that when he entered Dubai, there were a very limited number of companies and a very small number of people were aware of cryptocurrencies, but after his entry into Dubai, within a month, the influx of cryptocurrency companies increased quickly. and now, to date, thousands of companies are operating crypto businesses.
It is worth noting that Binance is based in Dubai, so there is a strong possibility that CZ knows the player who owns this large amount of Bitcoin. However, it will be too early to predict such claims, but we cannot ignore this fact.
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