Binance Co-founder Acknowledges Employment Ethics Challenge

Changpeng Zhao, co-founder of Binance, admitted that the exchange’s policy of restricting employees from trading cryptocurrencies may hinder their understanding of user needs.

> “Yes, Binance (CEX) has always limited employees from trading. This is certainly to protect users. But the downside, as you’ve said, is that our product managers may not fully understand user needs. I can’t oversee everything; let their management decide.”
> — CZ 🔶 BNB (@cz_binance) February 21, 2025

CZ Responds to Binance vs. OKX Comparison

Zhao made this statement on X, responding to a user comparison of employee responsiveness between Binance and OKX regarding technical issues.

The user claimed that OKX employees, who are more engaged with the platform’s products, are more responsive to user issues.

OKX Employees’ Engagement

OKX team members are involved in various dog, MEME, NFT, and Alpha communities, which keeps them in touch with product challenges and user complaints. Their engagement allows them to provide immediate feedback on product performance, leading to quicker resolutions.

The user highlighted that effective management often comes from founders’ active involvement, citing Elon Musk’s hands-on approach at the X platform, which drives innovation.

CZ’s Current Role at Binance

Zhao clarified that he is no longer involved in Binance’s management decisions, even though he remains a major shareholder. He stated that the current executives handle internal processes and employee trading policies.

This structure aims to prevent conflicts of interest where employees could misuse internal information for fraudulent or manipulative practices in the market.

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