Chapter 297 The Worries of the Richest Chinese

Chicago, 77th floor of Willis Tower.

This is the headquarters of Ethereum in the United States.

At this time, a large number of people in suits and leather shoes walked out of the office and poured into a conference room.

"I believe everyone has already known about the IRS's naming. What do you think?"

The founder of Ethereum, Wakelin Slmog, looked at the senior executives who sat down after entering.

"This David is really amazing. He even dug out Satoshi Nakamoto. Now that he has publicly named us, if we don't "pay tribute", the end will probably not be good."

"In terms of encryption, Bitcoin's technology is much more mature than ours, but this David can still dig out the handle. If he wants to mess with us, we will definitely not be able to escape."

"Bitcoin has fallen, and we are in big trouble this time..."

Strictly speaking, the reason why Ethereum was born is that the founder Wakelin borrowed the Bitcoin model to create it.

And today, although the value of Ethereum is far less than Bitcoin, it has also firmly established its position as the second largest cryptocurrency.

But no matter what, Bitcoin, the leader of the currency circle, has fallen, and now they have been publicly named, so a group of senior executives feel that they may not be able to escape this time.

"So according to your opinion, we should honestly "pay tribute" to the IRS?"

Vicklin was not very satisfied with the sighing of the people at the scene.

You know, according to the data released by the IRS, Bitcoin has paid 20 billion in taxes.

Although the market value and profit of Ethereum are not as large as Bitcoin, it has reached nearly half of the latter. Under the conversion, the 10 billion is definitely not going away.

Who can be willing to pay such a huge amount of tax?

"No, no, no, Mr. Vicklin, it's just that the IRS situation is big, and David's methods are extremely powerful. I think we can't fight it. I think we should "seek help."

The reason why Bitcoin can become popular is that the Illuminati has made great efforts as a behind-the-scenes promoter.

And Ethereum can also rise with promoters.

In early 2017, more than 20 of the world's top financial institutions and technology companies, including Morgan Stanley, Chicago Board of Trade, Bank of New York Mellon, Thomson Reuters, Microsoft, Intel, and Accenture, established an Ethereum Investment Alliance.

And it was with the support of this alliance that Ethereum finally broke through the siege and became the second largest cryptocurrency circle, with a market value of nearly 500 billion.

Wakelin frowned, and after weighing the pros and cons, he felt that it was really difficult to fight the IRS and David with his own strength, and finally he picked up the phone...

Seattle, 46 Elliott Bay, this is the location of Binance Exchange.

In the office of this high-rise building, a Chinese-looking man with glasses showed a sad face.

His name is Zhao Changpeng, a legendary figure in the 21st century.

He was born in China, immigrated to Canada at the age of 12, entered the cryptocurrency circle in 2014, and in June 2017, he officially founded the digital currency trading platform Binance (a global cryptocurrency exchange) and served as CEO.

In July of the same year, he launched his exclusive blockchain currency - the digital currency "Binance Coin".

Binance raised $15 million in its initial coin offering and became the world's largest cryptocurrency exchange in less than eight months, continuing to lead the industry.

In February 2018, Forbes released its first list of the richest people in the digital currency field. Zhao Changpeng ranked third with a net worth of $1.1-2 billion, becoming the only Chinese in the top ten at the time and appearing on the cover of the current Forbes magazine

However, this was just the beginning for him. What really made him reach the peak was that at the end of last year, he became the new richest Chinese with $94.1 billion, which shocked the world and made the world know him as such a person.

Afterwards, someone conducted a survey on him and found something amazing.

In 2017, Zhao Changpeng was just an unknown person, and his net worth was not even ranked.

However, in 2021, he accumulated a net worth of $94.1 billion at a rocket-like speed, but all this was done in just 5 years.

This seems to be the fastest person to accumulate wealth since the 21st century, no one else!

In fact, it is not to say that Binance is of great value. Strictly speaking, Binance is far inferior to Bitcoin and Ethereum in the cryptocurrency world.

The main reason why Zhao Changpeng became the richest Chinese in just a few years is that he created the Binance exchange, which has also become the world's largest cryptocurrency trading platform.

Cryptocurrency exchanges and cryptocurrencies can be regarded as the relationship between stocks and stock exchanges. As one party of the exchange, it can charge fees for transactions generated in it.

This is like Egypt, which controls the Suez Canal. It is difficult not to get rich.

"Changpeng, we all know that Satoshi Nakamoto is not a 'mortal'. Even as powerful as he is, he fell into the hands of David. If we fight against him, we will not end well."

In the office, in addition to Zhao Changpeng, there is another Chinese man sitting. His name is Lin Huaide. He is a close friend of Zhao Changpeng for many years and a shareholder of Binance.

Zhao Changpeng said nothing, obviously acquiescing to the other party's words.

Before Binance was founded, he sold a house in Shanghai and entered the Bitcoin circle with $1 million.

Having been in this circle for so long, he certainly knows what Satoshi Nakamoto means.

And now even this legendary figure (organization) has failed, let alone Binance.

"Waid, what do you mean, we have to find David to report his tax status on his own initiative, right?"

After a long silence, Zhao Changpeng uttered his first sentence.

“As you know, as our Binance scale grows, many people are also jealous. During this time, the Ministry of Justice has been investigating our blockchain trading platform, and it is obvious that they want to treat us as a scam. It’s time to kill the pig, if we provoke the IRS again at this time..."

Lin Huaide pouted and did not say any more, but his meaning was already obvious.

When he heard that the Ministry of Justice was investigating them, Zhao Changpeng's expression became even more sad.

Binance is different from cryptocurrencies such as Bitcoin and Ethereum. The success of the latter two is inseparable from the operation of capital behind them.

The main reason why the former Binance is successful is actually relying on the popularity of Bitcoin and Ethereum.

It can also be said that precisely because of the rise of cryptocurrencies such as Bitcoin and Ethereum, the exchange Binance has also risen with it.

After seeing their rise, a lot of capital naturally wanted to get involved and get a share of the pie, but they were all rejected by Zhao Changpeng, who did not want to be controlled by others.

The consequence of rejecting these capitals is that they are now facing investigation by U.S. law enforcement agencies.

Of course, there is actually another most important reason why American law enforcement agencies want to investigate them.

That is, he, Zhao Changpeng, is not one of his own people as some people in the United States think.

In the United States, Chinese Americans are already very wary of all aspects, and he controls a gold-eating beast like Binance, so it is difficult not to be messed with.

"Wait a minute..."

After thinking for a long time with a frown on his face, Zhao Changpeng suddenly looked as if he had thought of something, and then said, "Do you think it's possible for us to take advantage of the IRS to put pressure on the Ministry of Justice?"

If there is any department in the United States that scares the Department of Justice the most, it is the IRS.

After all, no one is afraid that their tax problems will be targeted by the IRS.

Lin Huaide was a little moved when he heard this, but he soon turned calm and said: "If the IRS can put pressure on the Ministry of Justice, then our crisis can indeed be resolved, but why should they help us?"

"We can pay taxes. Even if we pay more, it doesn't matter. As long as they are satisfied and say something to us, everything will be worth it."

The Department of Justice’s investigation of Binance is not just about asking for money, it is obviously aimed at control.

If control is lost, it will be worse than killing him.

Therefore, in Zhao Changpeng's view, even if it costs more money, as long as it can ensure safety, it is worth it!

"Pay more taxes..."

Lin Huaide still finds it difficult, because according to the rules and regulations of the Internal Revenue Service, they have the right to collect taxes, but they cannot interfere with the law enforcement actions of other departments.

For example, the Ministry of Justice is currently investigating Binance on the grounds of money laundering. This is not a tax issue, and the IRS has no reason to intervene.

"Oh, by the way, as far as I know Director David is of Chinese descent. We may be able to use this as a bridge and be more active in tax matters. This may be able to impress him, as long as he can help us Just saying one word can solve our current predicament!”

Are you saying that the Department of Justice is afraid of David?

The answer is definitely afraid.

In fact, not only the Department of Justice, but now there are few black and white people in the entire United States who are not afraid of David.

So as long as David is willing to say a word for their Binance... oh no, even needless to say, as long as they can obtain David's permission and use his banner, then the Ministry of Justice will definitely be afraid.

"This...if Changpeng thinks this is feasible, then let's give it a try..."

The situation Binance is currently facing can indeed be said to be desperate. If there is no external force to intervene, then they will definitely become a lamb to be slaughtered, so Lin Huaide agreed to give it a try.

After obtaining the consent of his partner, Zhao Changpeng immediately picked up the phone on the table: "Susie, help me sort out our tax account books in detail..."

At the same time, in addition to the two giants in the cryptocurrency circle, Ethereum and Binance, other large and small cryptocurrency companies also held emergency meetings in response to David's name.

Amid the global heated discussion on this matter, time came to the next day.

A large number of media reporters from the Los Angeles Internal Revenue Service came here early in the morning to see if anyone from a cryptocurrency company would come to declare their tax status today, and which companies and figures came first.

"Do you think the people from Ethereum will come today?"

"Ethereum is not necessarily the case. I heard that there are many consortiums behind them and they are involved, so I think USDT may arrive first."

"Not only USDT, but Binance, as the world's largest trading platform, I think they may also arrive today."

Amid heated discussions across the Internet, the time came to 10 a.m.

At this time, a Maybach arrived and attracted everyone's attention.

Under the attention of everyone, the car door opened. When they saw that Zhao Changpeng and Lin Huaide came down, the media on the scene immediately burst into an uproar.

"That's Zhao Changpeng, CEO of Binance, and Lin Huaide, a shareholder of the company!"

"Sure enough, the first to arrive was actually the giant Binance. I don't know how much tax they need to pay this time."

"It is said that Binance has recently encountered a series of investigations by the Ministry of Justice, and the IRS is a more ruthless agency than the Ministry of Justice, so it seems normal for them to be the first to come."

"..."

Amidst the discussion, Zhao Changpeng and Lin Huaide walked in.

In the office upstairs, when David heard that the first to arrive was Binance, he was also slightly startled, and then some information about Binance emerged in his mind.

The largest cryptocurrency trading platform.

Founder Zhao Changpeng, who topped the list of the richest Chinese at the end of last year.

Putting away his thoughts, David said to the phone: "Bring them to my office, David."

Seven or eight minutes later, there was a knock on the door. After receiving his response, Zhao Changpeng and Lin Huaide pushed the door open.

"Hello, Director David."

Zhao Changpeng extended his hand and greeted him directly in Chinese, hoping to get closer to him.

"Hello, Mr. Zhao."

Anyway, he was the first one to come after he called his name, and he was also setting a sincere example, so David did not put on any gestures and responded in Chinese.

After hearing this Chinese response, Zhao Changpeng was a little excited.

He knew that David had Chinese ancestry, but he didn't know if he could speak Chinese. What he didn't expect was that he could speak Chinese now, and he could speak it so fluently and standardly, which made him feel that his goal of building relationships had achieved the first step.

"Oh, by the way, Director David, this is Mr. Lin Huaide, a shareholder of our company."

"Hello, Mr. Lin Huaide."

"Hello, Director David."

"Please take a seat, both of you."

After sitting down, Zhao Changpeng couldn't wait to take out a document from his briefcase, handed it over and said, "At your request, Director David, we are here today to report the tax situation of our Binance company. Please check it out."

David nodded slightly, took the document and looked at it carefully.

...

...

PS: I don't know if you have read the news that Zhao Changpeng, a big shot in the cryptocurrency circle, was disciplined by the US government recently. Do you hope that David will help him in the book?