You Won’t Believe CZ’s Kyrgyz Coin Gambit—Gold, Bitcoin, and a National Crypto Plot Twist 🤯

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In a turn of events oddly befitting the swirling, unpredictable winds of history (and perhaps a Dostoevskian subplot), none other than Changpeng “CZ” Zhao, co-founder of Binance, has stepped forth as a modern Moses—only instead of stone tablets, he carries the cryptic scrolls of Bitcoin and BNB, and his eyes scan the windblown plains of Kyrgyzstan. His divine proposal: these digital assets shall form the very reserves of the nation’s treasury.

On that fateful day of May the Fifth—a date, one imagines, which will live on in some footnote of central Asian financial history—Zhao magnanimously confided to the world via the tempestuous forum known as X (once, it was called Twitter, but times change, and so do names!), that Kyrgyzstan, with all the gravity of a Cossack chief making camp, should station its digital reserves upon the twin pillars of Bitcoin (BTC) and his own BNB (BNB). One notes with some mirth—nay, suspicion—that Forbes claimed in 2024 our hero held a mighty 94 million BNB tokens, a sum worth some $55 billion, a fortune large enough to give even Tolstoy’s Ivan Ilyich heart palpitations.

Of course, the proposal arrived on the heels of an earlier announcement (CZ, like a seasoned Russian general, never fails to announce the next sortie before climbing onto his horse) that he had taken up the noble cause of advising Kyrgyzstan’s National Investment Agency on the matters of blockchain—a subject about which the average Kyrgyz citizen surely dreams nightly. On April 3, the Binance czar confirmed, as casually as someone announcing an impending blizzard, that he advises not only Kyrgyzstan, but roams the corridors of governments across the globe, whispering crypto wisdom. He declared the work “meaningful.” The nation’s cows and shepherds no doubt sleep easier knowing this. 😏

Binance to launch crypto payments in Kyrgyzstan

Barely a month after CZ’s declaration, Binance entered into a partnership—formalized by a memorandum (one envisions a thick, wax-sealed envelope)—with Kyrgyzstan to bring forth Binance Pay. The goal: enable crypto payments, confound local officials, and perhaps befuddle the odd babushka attempting to buy potatoes at the market. Alongside this, Binance Academy will begin educating government agencies on blockchain mysteries, ensuring that no youth in Kyrgyzstan will ever again ask “What is a node?” without receiving a well-funded, PowerPoint-laden reply.

The crypto gospel does not end there. Binance has advised governments far and wide, busy as a traveling merchant, while CEO Richard Teng (no relation to Tolstoy, but perhaps an admirer) admitted in April to the Financial Times that the company has partaken in global guidance on crypto reserves, no doubt while sipping some strong tea and reminiscing about simpler times.

Meanwhile, the winds of innovation sweep through Kyrgyzstan with uncharacteristic zeal. On April 17, President Sadyr Zhaparov signed into law the first digital central bank currency pilot. This legalizes the national currency’s digital mirage form. Truly, the spirit of reform is in the air—a heady concoction of progress and the distant neigh of a startled horse.

Kyrgyzstan reportedly plans a gold-backed stablecoin

As if Bitcoin and BNB weren’t enough to keep the bureaucrats up at night, Kyrgyzstan now plots the launch of a gold-backed stablecoin, pegged to the American dollar and melodiously named the Gold Dollar (USDKG). One half expects the Ministry of Finance to emerge from its offices, gold bars in hand, shouting, “We have $500 million in gold!” (The villagers smile, the shepherds look impressed, the goats remain skeptical.) CryptoMoon reached for confirmation, and like a letter lost in the storm, received no reply before publication.

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2025-05-05 15:47