https://cointelegraph.com/news/markets-crash-after-reports-that-binances-shangai-office-closed-in-crypto-crackdown
Speaking to Cointelegraph on Nov. 21, a Binance spokesperson refuted media reports that Chinese police had raided and subsequently shut down the exchange’s Shanghai offices. Furthermore, the spokesperson stated that no such offices even exist:
“The Binance team is a global movement consisting of people working in a decentralized manner wherever they are in the world. Binance has no fixed offices in Shanghai or China, so it makes no sense that police raided on any offices and shut them down.”
https://cointelegraph.com/news/binance-denies-police-raids-very-existence-of-shanghai-offices