Binance 'Inaccessible' in China Despite $90 Billion Business Claims
China issued a nationwide crackdown on crypto in 2021. All activities, right from mining to Trading and investing, were prohibited. However, China allegedly remains to be Binance’s largest market. A recent report by The Wall Street Journal pointed out that users traded $90 billion of crypto-related assets in China in a single month in May, according to an internal platform at Binance named “Mission Control.” Futures contracts comprised the major chunk of volume. Citing internal figures viewed by reporters, current and former employees, the report noted, “The transactions made China Binance’s biggest market by far accounting for 20% of volume worldwide, excluding trades made by a subset of very large traders.” Source: Wall Street Journal Wall Street Journal’s sources revealed that China’s importance for Binance is “openly discussed internally.” In fact, despite the ban, the exchange’s investigation team works in tandem with Chinese law enforcemen...