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There have been source reports circulating that Binance’s offices in Shanghai had been raided by police.

Binance have now responded to the rumours and in fact, say they do not even have offices in Shanghai.

The Binance team is a global movement consisting of people working in a decentralized manner wherever they are in the world. Binance has no fixed offices in Shanghai or China, so it makes no sense that police raided on any offices and shut them down

We also encourage our friends from the media to verify if their “sources” are telling the truth or presenting their own agenda

This could have been one of the reasons for the sell of in the crypto sphere earlier in the session as reports started some 8-9 hours ago.

Let’s see if some of the moves reverse now the allegations have been rebuffed by the massive crypto exchange.