american tax collector

Chapter 297 The Sorrow of the Richest Chinese Man

Chicago, 77th floor of Willis Tower.

Here is the headquarters of Ethereum in the United States.

At this time, you can see a large number of people in suits and ties walking out of the office and pouring into a conference room.

"I believe everyone already knows about the IRS naming. What do you think?"

The founder of Ethereum, Viklin Sirmog, looked at the senior executives who were sitting after entering.

"This David is really powerful. Even Satoshi Nakamoto was dug out by him. Now that our names have been publicly named, if we don't 'come forward,' the outcome may not be good."

"In terms of encryption level, Bitcoin's technology is much more mature than ours. However, David can still find clues. If he wants to mess with us, we will definitely not be able to escape."

"Bitcoin has collapsed, we are in big trouble this time..."

Strictly speaking, the reason why Ethereum was born was actually created by its founder, Wakelin, who borrowed the Bitcoin model.

"So according to what you mean, we should honestly 'pay' to the IRS?"

In July of the same year, he launched his exclusive blockchain currency-the digital currency "Binance Coin".

His name is Zhao Changpeng, a legendary figure in the 21st century.

However, by 2021, he has accumulated a net worth of US$941 billion at a rocket-like speed. However, all of this was completed in just 5 years.

Seattle, 46 Elliott Bay, where the Binance exchange is located.

Afterwards, someone conducted an investigation on him and discovered something astonishing.

"Waid, what do you mean, we have to find David to report his tax status on his own initiative, right?"

In February 2018, Forbes released its first rich list in the digital currency field. Zhao Changpeng ranked third with a net worth of US$2-11 billion, becoming the only Chinese in the top ten at the time and appearing on the cover of the current issue of Forbes magazine.
However, this is just the beginning for him. What really brought him to the top was at the end of last year, when he became the new richest man in China with a net worth of US$941 billion. This not only shocked the world, but also made the world realize that he is so Number one.

Before Binance was founded, he sold a house in Shanghai and entered the Bitcoin circle with $100 million.

In the office, besides Zhao Changpeng, there is another Chinese man sitting. His name is Lin Huaide, who is Zhao Changpeng’s close friend for many years and is also a shareholder of Binance.

When he heard that the Ministry of Justice was investigating them, Zhao Changpeng's expression became even more sad.

Although their market value and profits of Ethereum are not as large as that of Bitcoin, it has reached nearly half the scale of the latter. In conversion, that 100 billion will definitely not be able to escape.

You know, according to data released by the IRS, Bitcoin has paid 200 billion in taxes.

And now even this legendary figure (organization) has failed, let alone Binance.

It can also be said that precisely because of the rise of cryptocurrencies such as Bitcoin and Ethereum, the exchange Binance has also risen with it.

But no matter what, Bitcoin, the leader of the currency circle, has fallen, and now they have been publicly named, so a group of senior executives feel that this time they may be spared very slowly.

Cryptocurrency exchanges and cryptocurrencies can be thought of as the relationship between stocks and stock exchanges. As a party to the exchange, you can charge fees through transactions generated therein.

In fact, it is not that the currency Binance has much value. Strictly speaking, the currency Binance is far inferior to Bitcoin and Ethereum in the cryptocurrency world.

Wakelin was a little dissatisfied with the sighs and sighs of everyone present.

In 2017, Zhao Changpeng was just an unknown person, and his net worth was not even high.

Lin Huaide pouted and did not say any more, but his meaning was already obvious.

The reason why Bitcoin can explode is because the Illuminati is behind the scenes and exerts great efforts.

“As you know, as our Binance scale grows, many people are also jealous. During this time, the Ministry of Justice has been investigating our blockchain trading platform, and it is obvious that they want to treat us as a scam. It’s time to kill the pig, if we provoke the IRS again at this time..."

The rise of Ethereum is also driven by factors.

Binance raised $1500 million in an initial coin offering and became the world’s largest cryptocurrency exchange in less than eight months, continuing to lead the industry.

The main reason why the former Binance is successful is actually relying on the popularity of Bitcoin and Ethereum.

"Changpeng, we all know that Satoshi Nakamoto is by no means a 'mortal'. He is so powerful that he fell into the hands of David. If we fight, it will not end well."

This person seems to be the fastest person to accumulate wealth since the 21st century, bar none!

In the office of this high-rise building, a Chinese-faced man with glasses showed a sad expression.

This is like Egypt, which has mastered the Suez Canal. It is difficult for it not to become rich.

He was born in China and immigrated to Canada at the age of 12. He entered the cryptocurrency industry in 2014. In June 2017, he officially founded the digital currency trading platform Binance (a global cryptocurrency exchange) and served as CEO.

It was with the support of this alliance that Ethereum finally broke through and became the second largest player in the cryptocurrency circle, with a market value of nearly 5000 billion.

Binance is different from cryptocurrencies such as Bitcoin and Ethereum. The success of the latter two is inseparable from the operation of the capital behind them.

Today, although the value of Ethereum is far less than that of Bitcoin, it has firmly established its second position among cryptocurrencies.

In early 2017, more than 20 of the world's top financial institutions and technology companies, including Mogen Chase, Chicago Exchange Group, Bank of New York Mellon, Thomson Reuters, Microsoft, Intel, and Accenture, established an Ethereum investment alliance.

Wakelin frowned. After weighing the pros and cons, he felt that it was indeed difficult to fight against the IRS and David with his own strength. Finally, he picked up the phone...

Who can be willing to hand over such a huge tax?
"No, no, Mr. Wakelin, it's just that the IRS is powerful and David's methods are extremely powerful. I think we can't fight it. I think we should 'ask for help'."

Having been in this circle for so long, he certainly knows what Satoshi Nakamoto means.

The main reason why Zhao Changpeng became the richest man in China in just a few years is that he built the Binance Exchange, which has also become the world's largest cryptocurrency trading platform.

Zhao Changpeng said nothing, obviously acquiescing to the other party's words.

After a long silence, Zhao Changpeng uttered his first sentence.

After seeing their rise, a lot of capital naturally wanted to get involved and get a share of the pie, but they were all rejected by Zhao Changpeng, who did not want to be controlled by others.

The consequence of rejecting these capitals is that they are now facing investigation by U.S. law enforcement agencies.

Of course, there is actually another most important reason why American law enforcement agencies want to investigate them.

That is, Zhao Changpeng is not one of his own people as some people in the United States think.

In the United States, Chinese Americans are already very wary of all aspects, and since he controls a gold-eating beast like Binance, it is difficult not to be messed with. "Wait a minute..."

After thinking for a long time with a frown on his face, Zhao Changpeng suddenly looked as if he had thought of something, and then said, "Do you think it's possible for us to take advantage of the IRS to put pressure on the Ministry of Justice?"

If there is any department in the United States that scares the Department of Justice the most, it is the IRS.

After all, no one is afraid that their tax problems will be targeted by the IRS.

Lin Huaide was a little moved when he heard this, but he soon turned calm and said: "If the IRS can put pressure on the Ministry of Justice, then our crisis can indeed be resolved, but why should they help us?"

"We can pay taxes. Even if we pay more, it doesn't matter. As long as they are satisfied and say something to us, everything will be worth it."

The Department of Justice’s investigation of Binance is not just about asking for money, it is obviously aimed at control.

If control is lost, it will be worse than killing him.

Therefore, in Zhao Changpeng's view, even if it costs more money, as long as it can ensure safety, it is worth it!
"Pay more taxes..."

Lin Huaide still finds it difficult, because according to the rules and regulations of the Internal Revenue Service, they have the right to collect taxes, but they cannot interfere with the law enforcement actions of other departments.

For example, the Ministry of Justice is currently investigating Binance on the grounds of money laundering. This is not a tax issue, and the IRS has no reason to intervene.

"Oh, by the way, as far as I know Director David is of Chinese descent. We may be able to use this as a bridge and be more active in taxation. This may be able to impress him, as long as he can help us Just saying one word can solve our current predicament!”

Do you want to say that the Department of Justice is afraid of David?

The answer is definitely afraid.

In fact, not only the Department of Justice, but now there are few black and white people in the entire United States who are not afraid of David.

So as long as David is willing to say a word for their Binance... oh no, even needless to say, as long as they can obtain David's permission and use his banner, then the Ministry of Justice will definitely be afraid.

"This...if you think this is feasible, Changpeng, then let's give it a try..."

The situation Binance is currently facing can indeed be said to be desperate. If there is no external force to intervene, then they will definitely become a lamb to be slaughtered, so Lin Huaide agreed to give it a try.

After obtaining the consent of his partner, Zhao Changpeng immediately picked up the phone on the table: "Susie, help me organize our tax account books in detail..."

At the same time, in addition to the two giants in the cryptocurrency circle, Ethereum and Binance, other large and small cryptocurrency companies also held emergency meetings in response to David's name.

Amid the global heated discussion on this matter, time came to the next day.

A large number of media reporters from the Los Angeles Internal Revenue Service came here early in the morning to see if anyone from a cryptocurrency company would come to declare their tax status today, and which companies and figures came first.

"Do you think the people from Ethereum will come today?"

"Ethereum is not necessarily the case. I heard that there are many consortiums behind them and they are involved, so I think USDT may be the first to arrive."

“Not only USDT, but Binance, as the world’s largest trading platform, I think they may also arrive today.”

Amid heated discussions across the Internet, the time came to 10 a.m.

At this time, a Maybach arrived and attracted everyone's attention.

Under the attention of everyone, the car door opened. When they saw Zhao Changpeng and Lin Huaide coming down, the media at the scene instantly burst into an uproar.

“That’s Binance CEO Changpeng Zhao and company shareholder Lin Huaide!”

"Sure enough, the first one to arrive was the giant Binance. I don't know how much tax they need to pay this time."

"It is said that Binance has recently encountered repeated investigations by the Department of Justice, and the IRS is a more ruthless agency than the Department of Justice, so it seems normal that they will be the first to come."

"..."

Amidst the discussion, Zhao Changpeng and Lin Huaide walked in.

In the office upstairs, David was slightly startled when he heard that the first person to arrive was Binance, and then some information about Binance came to mind.

The largest trading platform for cryptocurrencies.

The founder, Zhao Changpeng, became the richest man in China at the end of last year.

Putting away his thoughts, David said into the phone: "Bring David to my office."

Seven or eight minutes later, there was a knock on the door. After getting his response, Zhao Changpeng and Lin Huaide pushed the door open and entered.

"Hello Director David."

When Zhao Changpeng extended his hand, he also directly sent greetings in Chinese. This move was also intended to bring closer relations.

"Hello, Mr. Zhao."

In any case, after all, she was the first one to come after he called her name, which could be regarded as a sincere example, so David did not make any gestures and responded in Chinese.

After hearing this Chinese response, Zhao Changpeng was a little excited.

He knew that David was of Chinese descent, but he didn't know if he could speak Chinese. What he didn't expect was that not only could he speak Chinese now, but he could do so fluently and standardly. This also made him feel that his goal of building a relationship had been achieved. first step.

"Oh, by the way, Director David, this is Mr. Lin Huaide, the shareholder of our company."

"Hello, Mr. Lin Huaide."

"Hello Director David."

"Please take a seat, both of you."

After sitting down, Zhao Changpeng eagerly took out a piece of information from his briefcase, handed it over and said: "At your request, Director David, we are here today to declare the tax status of our Binance company. Please check it out." ”

David nodded slightly, took the information and looked at it carefully.

……

……

PS: I don’t know if you have read the recent news that Zhao Changpeng, a big man in the currency circle, was punished by the American government. So, do you hope that David can help him in the book?

(End of this chapter)