TL;DR:
- Changpeng Zhao deleted a post on X where he denied involvement in the new Bereket Bank in Kyrgyzstan.
- The President of Kyrgyzstan affirmed that it was CZ who personally proposed the creation of the private crypto bank in May 2024.
- The contradiction arises despite Zhao’s deep collaboration with the Kyrgyz government in 2024 and 2025.
Binance founder Changpeng Zhao (CZ) is once again involved in controversy after deleting a post on X where he denied his participation in Bereket Bank, a new crypto bank recently approved in Kyrgyzstan.
The post’s deletion comes after the country’s president, Sadyr Japarov, publicly stated in an interview that it was Zhao himself who proposed the creation of the private digital asset bank during a meeting in May 2024.
The National Bank of Kyrgyzstan approved Bereket Bank’s license to advance the country’s crypto strategy, in an entity that reportedly includes the president’s son, Nurdoolot, as a founder.
The confusion began when media reports linked Zhao to the bank’s establishment. CZ initially responded by calling the claim “false,” asserting that he “never suggested starting a bank” and did not recognize the name.
However, that key denial has now disappeared from his account without explanation, fueling speculation. In direct contrast, President Japarov detailed to the Kabar agency that Zhao proposed the idea to him but declined to participate in a state-owned bank, agreeing instead to the private institution. Japarov defended his son’s participation, citing his credentials and his focus on attracting foreign investment.
Deep Ties Between CZ and Kyrgyzstan
The controversy over the Kyrgyzstan crypto bank is surprising given the deep ties CZ has cultivated with the country. Zhao has served as a strategic advisor to the national crypto committee since April 2024.
This collaboration has already borne fruit: in October 2025, Zhao announced achievements such as the launch of a national stablecoin on BNB Chain, plans for a CBDC, the establishment of a national crypto reserve, and educational partnerships with Binance Academy.
Despite his denial (now deleted) about Bereket Bank, Zhao’s collaboration is seen by President Japarov as a sign of international confidence in the country. CZ’s tweet deletion only adds uncertainty about the exact nature of his involvement.
