Binance.US has 117 Contractors Working in China: Crypto Analyst

Coin Edition
Coin Edition

19 Sep 2023 8:43 AM

According to the analyst, Binance.US had 110 contractors in Shanghai, the highest in any region. Read more on Coin Edition....

  • Binance.US, the U.S. arm of cryptocurrency exchange Binance, sources most of its contractors from China, with 117 contractors in total.
  • Out of the 117 contractors, 110 are based in Shanghai, making it the country with the highest number of contractors.
  • These contractors in China are not actual employees of Binance.US.
  • Binance has been facing regulatory scrutiny from the U.S. Securities and Exchange Commission (SEC).
  • The SEC has accused Binance.US of not cooperating in the ongoing investigation and providing nonrelevant documents.
  • The court declined the SEC's request to access Binance's software and employees.
  • The SEC claims that Binance has been lying to the regulator and that employees of BAM, the holding company of Binance.US, have contradicted claims made to the SEC.
  • Binance has described the SEC's actions as "unduly burdensome" and encourages customers to dismiss any fear, uncertainty, and doubt (FUD) surrounding the company.

The sentiment of the article is negative, as it highlights the regulatory scrutiny faced by Binance.US and the accusations made by the SEC.

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You May Ask

Where does Binance.US source most of its contractors from?How many contractors does Binance.US have in China?What is the current regulatory scrutiny faced by Binance?What accusations has the SEC made against Binance.US?How has Binance responded to the SEC's actions and regulatory scrutiny?

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