Binance CEO Changpeng Zhao and other top crypto executives have maintained close ties with mainland China over the past few years.
The management of the exchange was in contact with officials and businesses from the PRC, despite the fact that the Binance administration in 2017 announced its final withdrawal from the Middle Kingdom due to the ban on digital currencies in this country. However, until the end of 2019, the exchange used the services of one of the Chinese banks in Shanghai, through which its employees received salaries, the Financial Times reports, citing sources.
In China, there was also a Binance office, through which the managers of the crypto company reported to the tax authorities. At the same time, at the official level, Binance periodically stated that it has representative offices in Malta, Singapore and Uganda, and you can only use the services of these branches.
Binance remains the largest crypto exchange with over $8.5 billion in daily trading volume.
According to the company itself, it employs about 8,000 people. They live in Europe, the countries of the Asia-Pacific region, the Middle East, Africa, North and South America.
