Sources say that Binance, the major crypto exchange, maybe returning to China, with a planned office to open in Beijing.
As Binance left China in September 2017 in response to the country’s ban on crypto trading, now it has been analyzed that the exchange is looking for opening a new office in Beijing to accompany one operating in Shanghai.
As of press time, sources at Binance had not confirmed their plans to establish a new Beijing office but did say that there were a number of Binance employees currently operating in the Chinese capital.
However, the move follows a series of events indicating warming relations between the company and the country, where it was founded by Changpeng Zhao (CZ) in 2017 before its move to Malta.
Indeed, Binance is one of many companies in the crypto industry that seems to be growing friendlier with China.
It has been reported that in September 2019, Binance made its first major investment in China since leaving the country. However, the company took part in a $200 million round of funding for Chinese crypto and blockchain publication Mars Finance.
Crypto markets shook on October 25, following Chinese President Xi Jinping‘s announcement of support for blockchain innovation in the country.
Thus, on October 26, Bitcoin (BTC) reported daily gains of upwards of 36%, over 42% according to some exchanges, in what many saw as a result of Xi’s professed support.
Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.
Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.
We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.