Binance, the world’s largest cryptocurrency exchange by trading volume, is not a Chinese company.
This may come as a surprise to many, as Binance was founded in China and has its headquarters in Hong Kong. However, Binance is not a Chinese company for a few reasons.
First and foremost, Binance is registered in the Cayman Islands. This is likely because the Cayman Islands have much more favorable tax lAWS for companies than China does.
Secondly, Binance’s CEO, Changpeng Zhao, is not Chinese. He was born in China but moved to Canada with his family when he was a child.
Zhao holds Canadian citizenship.
Finally, the majority of Binance’s employees are not Chinese. While the company does have offices in Beijing and Shanghai, the majority of its employees are located in other countries such as Japan, South Korea, and Taiwan.
NOTE: WARNING: It is important to note that while Binance was founded in China, it has since relocated its operations to other countries. It is not a Chinese company, and is now registered and regulated in various jurisdictions around the world. As such, it is important to research the specific regulations of the country in which you are trading or investing before utilizing any services provided by Binance.
So why do so many people believe that Binance is a Chinese company?
One reason may be because Binance was founded in China and used to have its headquarters there. However, as mentioned above, the company has since moved its headquarters to Hong Kong and is now registered in the Cayman Islands.
Another reason may be because Changpeng Zhao is of Chinese descent. However, as mentioned above, he is not a Chinese citizen and has lived outside of China for most of his life.
So what is Binance? Is it a Chinese company? No, it is not.
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