Binance CEO Changpeng Zhao (CZ) has refuted reports suggesting he proposed creating a private crypto bank in Kyrgyzstan. In a tweet, CZ clarified that he has never considered establishing a bank, although he supports collaboration between banks and the crypto industry. He also stated that he does not know the individuals mentioned in the reports and has never made any related plans. CZ described the reports as misinformation, though not reaching the level of '4th degree FUD'.