Changpeng Zhao (CZ), the former CEO of Binance, has raised concerns about the state of France, saying the country has gone “downhill” in recent years. His remarks highlight growing unease around rising security risks, high-profile arrests, and increasing pressure on the crypto industry within the European Union’s second-largest economy.
Rising Crypto Kidnappings
One of CZ’s biggest concerns stems from the wave of cryptocurrency-related kidnappings that have gripped France. Earlier this year, Ledger co-founder David Balland was abducted from his home, with kidnappers demanding a €10 million ransom. Balland’s ordeal turned violent, with his captors severing one of his fingers before French security forces intervened.
The troubles didn’t stop there. In May, the father of a cryptocurrency millionaire was taken hostage, while in a separate incident, masked attackers attempted to abduct the daughter of Paymium CEO Pierre Noizat along with her child. Authorities have since charged around 25 people linked to these crimes and have rolled out new security protocols for crypto professionals.
High-Profile Arrests Add to Tensions
Beyond kidnappings, France also drew international attention after the controversial arrest of Telegram CEO Pavel Durov in August. The move sparked debate about regulatory overreach in Europe and raised questions about the balance between law enforcement and privacy in the digital age.
Adding to the tension, French regulators launched a probe into Binance itself in early 2025, signaling that scrutiny of the crypto industry remains intense. For CZ, these developments paint a picture of a nation struggling with both crime and regulation in the digital asset space.
Notre-Dame Reopens Amid Criticism
Interestingly, CZ’s comments came just as France celebrated the reopening of Notre-Dame’s twin towers. The restoration followed the devastating fire of 2019, with Binance among the early donors to the project. While CZ praised the reopening, saying he was glad to see the landmark restored, his overall tone remained cautious. He expressed hope that such cultural milestones could contribute to a safer and more united France, even if only in a symbolic way.
France’s dual reality is hard to ignore, on one hand, a proud moment with the restoration of one of Europe’s most iconic landmarks, and on the other, an unsettling wave of kidnappings and regulatory uncertainty. CZ’s critique underscores how intertwined crypto’s future has become with broader issues of governance, security, and trust in France’s role as a European leader.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed