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Binance founder Changpeng Zhao declared flatly at a Dubai event on May 4, 2026, that the UAE is now “the center for money” and that America handed over that crown through its own regulatory choices.
Speaking during a book tour for his memoir Freedom of Money, CZ called the Emirates “the most crypto-friendly place on the planet” and urged every crypto business on earth to consider relocating there. The US didn’t lose this race because it was outcompeted. It lost because it refused to play.
The detail most headlines are missing is that this isn’t just one man’s opinion freshly minted after a stint in federal prison. It’s the visible peak of a capital reallocation already years in the making, one that US financial media has consistently underreported while covering the drama of enforcement actions rather than the structural exodus those actions are accelerating.
The comments from CZ come as BNB crypto climbed +1% on the day, where it is currently trading for $622, with a 24-hour trading volume of $1.33Bn.
The US crypto industry spent years dealing with what many called “regulation by enforcement” without clear rules, resulting in lawsuits. The Biden administration’s case against CZ and Binance, resulting in a $4Bn settlement and prison time for Zhao, symbolized this struggle. While the CLARITY Act aimed to clarify regulations, the damage to confidence was already done.
It’s akin to two cities building airports, one mired in legal disputes, while the other simply opened for business. Founders and capital prefer the latter. CZ noted the US’s regulatory stance was a competitive disadvantage, prompting his move to the UAE in 2021, where many crypto firms flourished.
He returned voluntarily to face charges, stating that refusing could harm Binance and its stakeholders. Although he received a pardon in October 2025, the market had already recognized that the US views crypto founders as targets.
While Washington focused on enforcement, the UAE developed a robust infrastructure for crypto. Dubai established the Virtual Assets Regulatory Authority (VARA), providing legal certainty for crypto companies without heavy bureaucracy.
Abu Dhabi’s ADGM created parallel frameworks, attracting institutional players. By 2022, the UAE had licensed over 20 virtual asset service providers, and by 2023, thousands of blockchain firms were operating in Dubai.
CZ praised the UAE’s “calibrated” approach, balancing consumer protection and innovation, noting its advanced regulatory environment. Data suggests the UAE holds around $40Bn in Bitcoin, significantly more than the US government’s $20Bn. Richard Teng, co-CEO of Binance, stated we’re entering a transformative era in finance, with the UAE at the forefront.
If you’re building a crypto startup in the US right now, you’re doing it under a regulatory framework still being argued over in committee rooms, while your competitors in Dubai have licenses, banking relationships, and government support.
For American investors and holders, the near-term implications split into two paths:
If the US acts, Legislation like the CLARITY Act passes with meaningful teeth, exchanges gain legal certainty, institutional capital stays onshore, and the US retains its seat at the innovation table. The UAE’s lead narrows but doesn’t disappear; too much infrastructure has already been built there.
If the US doesn’t act, the brain drain accelerates. Founders route around US jurisdiction, new financial rails get built in Dubai and Abu Dhabi, and American retail investors end up participating in platforms and protocols whose center of gravity is overseas. The US becomes a consumer of Bitcoin and financial innovation rather than its source.
The Binance founders’ own trajectory tells the story with uncomfortable clarity. He built the world’s largest crypto exchange, was prosecuted by the US government, served 4 months in federal prison, was pardoned, and now advises governments from the UAE.
He’s not bitter about it, publicly at least. But his relocation, his memoir titled Freedom of Money, and his choice to call Dubai “this is the first in the world” for crypto sends a signal louder than any regulatory filing.
Bitcoin’s own price cycle adds context without softening the message. Bit fell to roughly $60,000 in early 2026 before rebounding toward $80,000 by the second quarter, after surging near $120,000 in late 2025. CZ noted that “the recovery is always slow”, but his point about the UAE isn’t a Bitcoin call.
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Read original story Binance News: CZ Says the UAE Is Stealing America's Crown as the World's Money Capital by Alex Ioannou at 99bitcoins.com