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Zenger
Zenger
World
Mehab Qureshi

Binance Thrives In China Despite Cryptocurrency Trading Ban

In this photo illustration, a Binance logo displayed on a smartphone with stock server lights in the background. The largest cryptocurrency exchange in the world, Binance, is said to have kept up a sizable presence in China even after that nation outlawed cryptocurrency trading in 2021.  OMAR MARQUES/SOPA IMAGES/LIGHTROCKET/GETTY IMAGES

Binance, the world’s largest cryptocurrency exchange, has reportedly managed to maintain a significant presence in China, even after the country banned cryptocurrency trading in 2021. 

What Happened: Internal figures obtained by The Wall Street Journal, along with accounts from current and former employees, reveal that Chinese users traded a staggering $90 billion worth of cryptocurrency assets in just one month. 

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