无国界的加密币安：中国的封禁、美国的制裁与迪拜的战云（观点、中英对照）

赵长鹏的人生轨迹，就像一张地缘政治示意图。

Changpeng Zhao’s life reads like a geopolitical diagram.

赵长鹏生于中国，成长于加拿大，是全球最大的加密货币交易所的创始人。曾在美国入狱服刑，如今定居阿联酋的他，以其跌宕起伏的人生，勾勒出当代加密金融版图的断裂线。在事业巅峰时期，他的个人财富估计超过600亿美元，成为加密行业最富有的人物之一。

Born in China, raised in Canada, builder of the world’s largest cryptocurrency exchange, imprisoned in the United States, and now based in the United Arab Emirates, Zhao’s trajectory traces the fault lines of crypto finance. At his peak, his personal fortune was estimated at more than $60 billion, making him one of the wealthiest figures in the crypto industry.

加密货币曾承诺一个无国界的世界。然而，赵长鹏的崛起与跌落却提醒人们：这个世界从未真正脱离主权与边界。

Crypto promised a world beyond borders. CZ’s rise and fall show that borders still matter.

在赵长鹏度过童年时光的中国，私人加密货币已被全面禁止。2017年，国内加密货币交易所被关闭；2021年，比特币挖矿活动被全面清理。中国人民银行宣布所有与加密货币相关的交易均属非法。取而代之的是，北京积极推进由国家发行的数字人民币——可编程、可追踪、完全受控。中国的立场十分明确：数字技术可以发展，但货币主权必须掌握在国家手中。

In China, where Zhao spent his early childhood, private cryptocurrency is banned. Exchanges were shut down in 2017. Mining operations were dismantled in 2021. The People’s Bank of China declared all crypto transactions illegal. Instead, Beijing promotes its own digital yuan — programmable, traceable, state-controlled. China’s position is clear: digital technology is welcome, but monetary sovereignty belongs to the state.

赵长鹏12岁时离开了中国移居加拿大，并在加国接受教育学习计算机科学。加拿大所提供的开放环境、法治秩序以及与全球市场的互动，为赵后来创立 币安Binance 奠定了基础。

Zhao left that system at age 12, emigrating to Canada, where he was educated and trained in computer science. Canada offered openness, rule of law and access to global markets — the institutional foundation that made Binance possible.

尽管 Binance 于 2017 年在中国创立，但它从未真正隶属于任何单一司法辖区。数周之后，北京下令关闭国内加密货币交易所，迫使赵长鹏迅速将业务转移至海外。然而，中国对加密货币的打压并未让他止步，反而推进了其迈向全球化的步伐。

Though Binance was launched in China in 2017, it was never anchored to a single jurisdiction. Weeks later, Beijing banned domestic crypto exchanges, forcing Zhao to move operations offshore almost immediately. China’s crackdown did not end the experiment — it globalized it.

币安 在一段时间内的确在蓬勃发展。

For a time, that worked.

但美国开始插手了。

Then came the United States.

起初，美国监管机构对加密行业的迅猛扩张采取了相对宽容的态度。但在 FTX 崩溃，以及对洗钱和制裁违规问题的担忧不断升温之后，执法明显趋于强硬。美国检方指控币安未能建立有效的反洗钱管控机制。与因涉嫌挪用客户资金和欺诈而迅速瓦解的 FTX 不同，币安得以存续，但代价是承认美国司法管辖权，并支付创纪录的 43 亿美元罚金。

American regulators initially tolerated crypto’s rapid expansion. After the collapse of FTX — and amid rising concerns over money laundering and sanctions violations — enforcement hardened. U.S. prosecutors accused Binance of failing to maintain adequate anti-money-laundering controls. Unlike FTX, which collapsed under allegations of fraud and misuse of customer funds, Binance survived — but only after submitting to U.S. jurisdiction and paying a record $4.3 billion penalty.

赵长鹏最终认罪，并同意支付约 43 亿美元的和解金。2024 年，他在美国联邦监狱服刑四个月。

Zhao pleaded guilty and agreed to a $4.3 billion settlement. In 2024, he served four months in federal prison.

币安的问题并不在于加密货币本身，而在于它触碰了代表着美国司法势力的，全球最具主导地位的货币清算网络--美元体系。华盛顿的态度十分明确：只要触及美元体系，就必须接受美国的司法管辖。

Binance’s vulnerability lay not in crypto itself, but in its interaction with the dollar system — the world’s dominant financial infrastructure and a powerful extension of U.S. law. The message from Washington was unmistakable: if you touch the dollar system, you fall under U.S. jurisdiction.

然而，赵长鹏的美国司法较量并未止步于此。2025年，特朗普总统对赵长鹏实施特赦，反映出美国政治环境的转向，即加密货币已在战略与选举层面变得举足轻重。

And yet, the story did not end there. In 2025, President Trump pardoned Zhao, reflecting a shifting American political climate in which crypto had become strategically and electorally significant.

北京方面对赵长鹏入狱一事显得格外克制。与一些涉及海外华人知名人物的案例不同的是，北京并未对赵公开辩护或提出外交层面的抗议。加密货币在中国早已被全面禁止，而赵长鹏长期游离于中国的金融体系之外。赵的经历显示出中国政府对加密货币没有任何的改变，反而印证了它的长期强硬态度。

Beijing’s reaction to Zhao’s imprisonment was notable for its restraint. Unlike other cases involving prominent overseas Chinese figures, there was no public defense or diplomatic protest. Crypto had already been banned at home. Zhao had long operated outside China’s financial architecture. His fall did not challenge Beijing’s narrative — it confirmed it.

获释之后，赵长鹏乘坐私人飞机离开美国，前往迪拜。此后，币安在争取流动资本的全球枢纽城市阿布扎比数字资产监管系统下建立了其运营基地。然而，极具吸引力的迪拜并未为币安提供安全屏障。随着中东地区地缘政治紧张局势升级，币安要求其驻阿联酋员工为了安全而在家上班。无国界的资本，终究无法逃离有形的国界范囿。

After his release, Zhao left the United States on a private plane bound for Dubai. Binance has since anchored a regulated base in Abu Dhabi under the UAE’s digital-asset framework — a global hub competing to attract mobile capital. Yet attraction offers no insulation. As geopolitical tensions escalated in the Middle East, Binance instructed UAE-based staff to remain indoors as a precaution. Borderless capital still lives in physical space.

赵长鹏的人生轨迹，从中国到加拿大，从全球交易所创办人到美国监狱服刑，再到阿联酋定居，揭示了一个更为冷峻的现实：无国界金融并不存在永久的避风港。它遭到一个国家的打压，另一个国家的起诉，而即使第三个国家接纳了它，今天的它还是不得不在其战火下挣扎求生。加密货币原本旨在超越边界，却始终未能摆脱边界的束缚。

Zhao’s trajectory — China to Canada, global exchange to American prison, Emirati residence — reveals a harder truth: there is no permanent sanctuary for borderless finance. One state suppresses it. Another prosecutes it. A third hosts it — until instability intrudes. Crypto was built to transcend borders. It has not escaped them.