Shocking Revelation: Binance Concealed Links to China for Years, Company Documents Reveal

cryptonews.com:

The world's largest cryptocurrency exchange, Binance, is once again in the limelight amidst allegations of concealing its ties to China.

A recent Financial Times report revealed that Binance had deep and extensive connections to the country even years after officially leaving in the wake of the crypto crackdown in late 2017.

Binance's CEO, Changpeng Zhao (CZ), and other high-ranking executives have been accused of directing staff to hide the firm's Chinese operations, including an office in China that remained in use until at least the start of 2020.

These revelations add fuel to the fire, as Binance currently faces a slew of regulatory troubles, including a recent lawsuit by the US CFTC for allegedly providing illegal services to American clients.

The CFTC accused Binance of deliberately withholding information on the location of its executives' offices and misleadingly asserting that its headquarters were based on CZ's whereabouts as part of a strategy of regulatory evasion.

Despite Binance's public statements that it had left China in 2017, internal documents have highlighted how the company concealed the scope and whereabouts of “a small number of customer service agents.”

One message from a Binance employee in late 2019 cautioned others to publicly acknowledge only offices in Malta, Singapore, and Uganda, and refrain from mentioning any other locations, including China.

Binance has dismissed these allegations, stating, "It is unfortunate that anonymous sources are citing ancient history (in crypto terms) and dramatically mischaracterizing events. This is not an accurate picture of Binance’s operations."

However, the evidence continues to mount against the company.

According to internal documents, China remained a crucial