Binance Holdings Ltd. hid its links to China for a number of years, the Financial Times reported on Wednesday. These included an office in Shanghai "used for employee training sessions and events," as well as a Chinese bank that paid some of the employees' wages, according to internal documents.
Messages to staff cited in the report reminded them that "publicly, we have offices in Malta, Singapore, and Uganda" and warned them not to confirm "any offices anywhere else, including China." The Shanghai premises were allegedly still in use in 2019, contradicting CEO Changpeng Zhao's claim that Binance left China in 2017. The company denied the report, adding that the Chinese government "has no access to Binance data except where we are responding to lawful and legitimate law enforcement requests."
