A couple of days ago, reports in the cryptonews showed that Chinese authorities have raided the offices of the leading cryptocurrency exchange in the world. However, today Binance refutes the media reports and says that they are quite false – with a full explanation on what’s actually true.
One Binance spokesperson spoke to the media and said that Binance refutes the reports about Chinese police raiding and subsequently shutting down the exchange and its Shanghai offices. The spokesperson also said that such offices do not 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.”
As Binance refutes the false reports, the spokesperson also stated that the exchange is being targeted in the Chinese media, adding that there has been “a recent spike in the number of negative activities against Binance” in the country.
“We also encourage our friends from the media to verify if their “sources” are telling the truth or presenting their own agenda,” he added.
Right now, Binance is concentrating on building its blockchain and cryptocurrency ecosystems. According to the spokesperson, Binance refutes false reports like these all the time and the goal of the exchange is to “work closely with any government to protect users and grow the blockchain industry.”
As we reported earlier today, the rumors of a police raid and potential closure of Binance’s offices were accompanied by a sharp drop in the cryptocurrency prices. The Binance Coin news showed that BNB even fell by 9% at one time and went deep into the red.
Binance is among the world’s most active cryptocurrency exchanges, seen as a behemoth by many. The 24-hour trading volume is over $1 billion which makes the exchange the second largest in the world, as data by shows.
Earlier today, the US-targeted service Binance.US announced that it will provide liquidity to the crypto brokerage firm Tagomi in what looks like a new partnership. The exchange said that institutional liquidity will be available for Tagomi users, including venture funds, individual retirement accounts, family offices and quant funds, too.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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