Changpeng Zhao, former CEO of Cryptocurrency Exchange Binance, recently made a pessimistic observation about France, claiming that the European Union's second-largest economy has become a “downhill” in the past few years.
Zhao pointed to the wave of cryptocurrency lures that have occurred in France over the past few years and the controversial arrest of Telegram CEO Pavel Durov last August.
That said, Zhao hopes things get better for one of the major EU countries.
It is also worth noting that France also began its Binance investigation in early 2025, according to Reuters.
The wave of code temptations
France has made repeated headlines this year in crypto media due to a wave of cryptocurrency-related lures.
In January, ledger co-founder David Barand was accused of from his home in central France, and the temptator demanded a ransom of 10 million euros. Barand cut one of his fingers during the lure before being rescued by the French elite security forces.
In May, the father of a cryptocurrency billionaire was invited before being rescued by police. In the same month, the daughter of Paymium CEO Pierre Noizat was attacked by a masked man along with her child. The masked attacker attempted to push her into the van.
Approximately 25 people have been charged by French authorities in connection with a series of troublesome temptations. New security measures have also been introduced tailored for crypto experts.
The Tower of Notre Dame has reopened
Zhao's criticism of France comes after the reopening of the medieval twin towers of Notre Dame. It took five years to rebuild them after the devastating fires that occurred in April 2019.
CZ said Binance had donated “quite early” to the restoration of Notre Dame, adding that it would be good to see the iconic landmark finally reopening.
“I hope it helps to make France a safer country (even in a small way),” CZ said.
