Binance on the verge of failure – Vedomosti

Since its inception, the Binance crypto exchange has been forced to wander the world, hiding from regulators. The company was founded on July 14, 2017 in China. Less than two months later, crypto exchanges were banned in this country. The crypt will be used to withdraw money abroad, local officials feared. Binance founder Changpeng Zhao brought together the entire team of 30 employees and arranged the move to Japan. Where it was not easy to settle down: problems arose even with office rent, no one trusted an incomprehensible IT startup.

And when things began to improve, Changpeng was contacted by Japan’s financial regulator. The exchange does not have a license to work with the citizens of the country, he warned sternly. And after a year in Japan, Binance had to leave that country as well. Changpeng and his staff went to Malta. This is the official version. A year ago, Bloomberg wrote that the financial regulator of the island does not oversee the activities of Binance. That is, Changpeng, apparently, realized that he would not be given rest anywhere, and decided to disperse the business around the world.