Despite officially withdrawing from China in 2017, Binance CEO Changpeng Zhao and other top crypto executives have maintained close ties with the mainland.
The exchange employed one of the Chinese banks in Shanghai to handle employee salaries until the end of 2019.
An office in China reported to tax authorities and while Binance has publicly stated that it has offices in Malta, Singapore, and Uganda, it continues to be the largest crypto exchange with a trading volume of over $8.5 billion and 8,000 employees located in Europe, Asia-Pacific, Middle East, Africa, North, and South America.
