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Zhao criticizes France: crypto kidnappings and Notre Dame review
Changpeng Zhao raises concerns about France's economic situation and the increase in cryptocurrency kidnappings in the country.
Zhao criticizes France: crypto kidnappings and Notre Dame review
Changpeng Zhao, the former CEO of Binance, recently expressed pessimism about France's development. In a commentary, he noted that the European Union's second-largest economy has experienced a decline in recent years. Zhao pointed to a worrying wave of cryptocurrency kidnappings that took place in France this year, as well as the controversial arrest of Telegram CEO Pavel Durov last August. Despite these horrors, Zhao remains optimistic and hopes for a positive change in the country's situation.
This year, France has made headlines for several high-profile kidnappings heavily linked to the cryptocurrency industry. In January, David Balland, a co-founder of hardware wallet maker Ledger, was kidnapped from his own home. The kidnappers demanded a ransom of 10 million euros and inflicted such torment on Balland during the kidnapping that his finger was severed before he could be freed by elite security forces.
Cryptocurrency kidnappings in France
However, the incidents were not limited to this case. In May, the father of a wealthy cryptocurrency investor was kidnapped and apparently later rescued by police. At the same time, Paymium CEO Pierre Noizat's daughter and her child were attacked by masked men who tried to force them into a vehicle. Fortunately, this attempt failed.
- 25 Personen wurden bereits von den französischen Behörden wegen ihrer Verbindungen zu diesen Kidnappings angeklagt.
- Um das Risiko für Krypto-Profis zu minimieren, wurden neue Sicherheitsmaßnahmen eingeführt.
The negative events and the security situation cast a shadow over the reopening of the medieval twin towers of Notre-Dame, which were restored in five years after the devastating fire in April 2019. Zhao expressed that Binance helped fund the restoration and he hopes that the reopening of the towers will contribute to security in France.
In a broader development, the French government launched a formal investigation into Binance in 2025, as reported by Reuters. This development could further strain already tense relations between the country and the crypto industry.
As the situation evolves, Zhao remains interested in the progress in France and once again expresses his hope for a positive turnaround.
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