Topic: [NEWS] Binance Shanghai Office Reportedly Shut Down after Local Police Raid - page 2. (Read 314 times)
November 21, 2019, 09:34:13 PM
Provided this news is completely true, this should be a harsh reminder to all exchanges and cryptocurrency companies to beware of China. This country is a wolf covered with a sheep's clothing. They should not trust the country immediately after a vague statement of support to blockchain. That was not after all a statement for cryptocurrency or Bitcoin.
November 21, 2019, 09:20:35 PM
How many other exchanges are presently trading cryptocoins in China? Withdraw your coins to your wallets. I speculate that if this is true, Binance's raid might be the real beginning of China's inquisition on the cryptospace.
image from newlogical.com
Recent reports currently suggest that one of the world’s largest cryptocurrency exchanges, Binance, has had its Shanghai office shutdown causing its many staff members to either work remotely or even completely abandon China and move to Singapore. According to sources familiar with the matter as cited by The Block, there is currently no fully functioning Binance Shanghai anymore.
The cited sources have also added that the office was recently raided by police in the area, for unknown reasons. As such, the office which used to have some of Binance’s most senior management staff, no longer houses them. Today, more than 100 employees who used to work out of Shanghai have now been scattered. It is also said that Binance CEO Changpeng “CZ” Zhao as well as Chief Marketing Officer (CMO) Yi He, have both moved to Singapore already.
The Block has noted that a Binance spokesperson rebuffed news about the raid, stating there is really no China office:
“We don’t have entities in China, most of us work remotely in China.”
Regardless, the spokesperson’s comments seem to run against the existence of certain pictures of a Chinese office that has been seen by The Block, with staff members actually working. If the incident is true, an interesting tweet from CZ about a month ago may have suggested something like this might happen. CZ tweeted that offices are “old concepts”, probably meaning that Binance might also fall in line.
Read in full https://www.coinspeaker.com/binance-shanghai-shut-down/
image from newlogical.com
Recent reports currently suggest that one of the world’s largest cryptocurrency exchanges, Binance, has had its Shanghai office shutdown causing its many staff members to either work remotely or even completely abandon China and move to Singapore. According to sources familiar with the matter as cited by The Block, there is currently no fully functioning Binance Shanghai anymore.
The cited sources have also added that the office was recently raided by police in the area, for unknown reasons. As such, the office which used to have some of Binance’s most senior management staff, no longer houses them. Today, more than 100 employees who used to work out of Shanghai have now been scattered. It is also said that Binance CEO Changpeng “CZ” Zhao as well as Chief Marketing Officer (CMO) Yi He, have both moved to Singapore already.
The Block has noted that a Binance spokesperson rebuffed news about the raid, stating there is really no China office:
“We don’t have entities in China, most of us work remotely in China.”
Regardless, the spokesperson’s comments seem to run against the existence of certain pictures of a Chinese office that has been seen by The Block, with staff members actually working. If the incident is true, an interesting tweet from CZ about a month ago may have suggested something like this might happen. CZ tweeted that offices are “old concepts”, probably meaning that Binance might also fall in line.
Read in full https://www.coinspeaker.com/binance-shanghai-shut-down/
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