Binance’s Shanghai office shut down following police raid, sources say

Binance’s Shanghai office, which once hosted some of the exchange's top executives, abruptly closed its doors in recent weeks, forcing employees to either work remotely or relocate to Singapore, several sources close to the matter told The Block.

According to sources, the cryptocurrency exchange’s Shanghai office was recently raided by local police. Sources said many of Binance's executives along with as many as 100 other employees worked at the office. The cryptocurrency exchange is headquartered in Malta.

Notably, top executives such as CEO Changpeng "CZ" Zhao and CMO Yi He were part of the group that relocated to Singapore, according to sources. Read More...

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