Chapter 586: Chapter 295: The Sorrows of the Richest Chinese_2
Changpeng Zhao didn’t speak, obviously consenting to the other party’s words.
Before Binance was established, he had sold a house in Magic Capital and invested One Million USD into the Bitcoin circle.
Having mingled in this circle for so long, he was very clear about what Satoshi Nakamoto truly ant.
And now, even this legendary figure (or organization) had fallen, not to ntion their Binance.
“Wade, so what you’re saying is, we should go to Director David and take the initiative to declare our tax situation, is that right?”
After a long silence, Changpeng Zhao finally spoke.
“As you know, with the growth of our Binance’s scale, a lot of people have beco envious, and during this ti, the Departnt of Justice has been investigating our blockchain trading platform, clearly with the intention of slaughtering us like fattened pigs. If we provoke the IRS now…”
Lin Huaiwei pursed his lips and didn’t continue, but his aning was already obvious.
Hearing about the investigation from the Departnt of Justice, Changpeng Zhao looked even more worried.
The success of Binance, Bitcoin, and Ethereum as cryptocurrencies was not the sa; the latter two couldn’t have succeeded without the operation of capital behind them.
Binance’s success, in fact, largely depended on the popularity of Bitcoin and Ethereum.
It could even be said that the rise of cryptocurrencies like Bitcoin and Ethereum led to the rise of the Binance exchange.
Seeing their rise, naturally many capitals wanted to get involved and take a share, but they were all rejected by Changpeng Zhao, who didn’t want to be under anyone’s control.
And as a consequence of refusing these capitals, they were now facing an investigation by the Arican law enforcent agencies.
Of course, the most important reason that the Arican law enforcent agencies were investigating them was because Changpeng Zhao wasn’t considered ‘one of their own’ by certain Aricans.
In Arica, ethnic Chinese are already quite guarded against in various aspects, and he was in control of a gold-eating beast like Binance, it was difficult not to be targeted.
“Wait a minute, Wade…”
After brooding with a look of distress for a good while, Changpeng Zhao suddenly seed to have an idea, then spoke up, “Do you think it’s possible for us to leverage the IRS to apply so pressure on the Departnt of Justice?”
If there’s a departnt in Arica that the Departnt of Justice fears, it is undoubtedly the IRS.
After all, no one wants their tax issues to be targeted by the IRS.
Upon hearing this, Lin Huaiwei was also sowhat moved, but soon returned to a calm deanor, saying, “If the IRS could pressure the Departnt of Justice, our crisis could indeed be resolved. However, why would they help us?”
“We could pay our taxes, even overpay if necessary. It wouldn’t matter as long as they are satisfied and willing to advocate for us. Everything would be worth it.”
The Departnt of Justice’s investigation into Binance wasn’t simply about money; it was clearly aiming for control.
If they lost control, that would be more painful to him than death.
So, in Changpeng Zhao’s view, even if it ant spending more money, as long as it ensured safety, it would be worthwhile!
“Paying more taxes…”
Lin Huaiwei still felt it was very difficult because according to the rules and regulations of the IRS, they had the right to collect taxes but couldn’t interfere with other departnts’ law enforcent actions.
Like now, with the Departnt of Justice using money laundering as a reason to investigate Binance, this wasn’t a tax issue, and the IRS had no reason to intervene.
“Oh right, as far as I know, Director David has ethnic Chinese heritage. Maybe we can use that as a bridge and be more proactive in our tax affairs. This may sway him. If he could speak just a word for us, it would resolve our current predicant!”
Is the Departnt of Justice afraid of Director David?
The answer is definitely yes.
In fact, not just the Departnt of Justice, but there are few in the entire Arica, both in the criminal and legal fraternities, who aren’t afraid of Director David.
So as long as Director David is willing to speak a word for Binance… oh no, they don’t even need him to speak, just getting his permission and flying his flag would make the Departnt of Justice wary.
“This… If you, Changpeng, think it’s feasible, then let’s give it a try…”
The situation Binance was in could indeed be described as desperate. If no external force stepped in, they would definitely beco lambs to the slaughter. Thus, Lin Huaiwei agreed to give it a try.
After securing the agreent of his business partners, Changpeng Zhao imdiately picked up the phone on the desk, “Susie, help thoroughly organize our tax ledgers…”
anwhile, apart from the two cryptocurrency giants Ethereum and Binance, other large and small cryptocurrency companies convened an ergency eting in response to Director David’s notice.
Amidst global discussions about the matter, the next day arrived.
Early in the morning, a large number of dia journalists arrived at the Los Angeles IRS, eager to see if any cryptocurrency company representatives would co to declare their taxes, and which companies and individuals would be the first to arrive.
“Do you think the folks from Ethereum will co today?”
“Ethereum may not, I’ve heard they have a lot of financial backers, with extensive connections, so I actually think USDT might be the first to show up.”
“Not just USDT, but Binance, the world’s largest trading platform—I think it’s also possible that they might co today.”
As the online discussions heated up, the ti reached 10 a.m.
And at that mont, the arrival of a Maybach caught everyone’s attention.
Under the gaze of the crowd, the car door opened, and when Changpeng Zhao and Lin Huaiwei stepped out, a burst of commotion erupted among the journalists at the scene.
“That’s Binance’s CEO Changpeng Zhao and shareholder Lin Huaiwei!”
“I knew it, the first to arrive is the giant Binance, I wonder how much tax they will need to pay this ti.”
“It’s said that Binance has recently been subjected to consecutive investigations by the Departnt of Justice, and the IRS is an even tougher agency than the DOJ, so it makes sense for them to co first.”
“…”
In a buzz of discussions, Changpeng Zhao and Lin Huaiwei entered the building.
Upstairs in the office, when he heard that Binance was the first to arrive, Director David was also slightly taken aback, and information about Binance imdiately began surfacing in his mind.
The largest cryptocurrency trading platform.
Founder Changpeng Zhao, who topped the list of the richest Chinese at the end of last year.
Putting his thoughts aside, David spoke into the phone, “Bring them to my office.”
Seven or eight minutes later, the door was knocked, and upon receiving his reply, Changpeng Zhao and Lin Huaiwei pushed the door and entered.
“Director David, hello.”
While extending his hand, Changpeng Zhao also greeted him in Chinese, an attempt to narrow the gap between them.
“Mr. Zhao, hello.”
Regardless, as the first person to respond to his call, David didn’t put on any airs and replied in Chinese.
Feeling a little excited when he heard the Chinese reply, Changpeng Zhao understood that David had Chinese heritage but wasn’t sure if he could speak the language. To his surprise, not only could David speak it, but he also did so fluently and accurately, which made Zhao feel like he had achieved the first step in establishing a good relationship.
“Oh, by the way, Director David, this is Mr. Lin Huaiwei, a shareholder in our company.”
“Mr. Lin Huaiwei, hello.”
“Director David, hello.”
“Please have a seat, both of you.”
After sitting down, Changpeng Zhao couldn’t wait to pull out a docunt from his briefcase, hand it over, and said, “As per your request, Director David, we have co here today to declare the tax affairs of Binance Company, please review.”
David nodded slightly, took the docunt, and began to examine it carefully.
…
…
PS: Lately, the news of Changpeng Zhao, a significant figure in the cryptocurrency world, being regulated by the Arican Governnt has been circulating. Have you read about it? Would you like Director David to lend him a hand in the book?
Reviews
All reviews (0)