Markets Crash After Reports That Binance's Shanghai Office Closed in Crypto Crackdown

From cointelegraph.com

Chinese authorities have reportedly raided and shut down the Shanghai offices of leading cryptocurrency exchange Binance. Citing unnamed local sources, The Block says that local police have shut down Binance’s offices after raiding the premises. Between 50–100 of the exchange’s employees reportedly worked out of the Shanghai location. Binance has not responded to Cointelegraph’s requests for comment as of press time. Closure follows crackdown The purported raid follows a crackdown on cryptocurrency-related businesses and activities in the country. Recently, financial authorities in China issued a notice to ... (full story)