TV report in China says Binance's Shanghai "office" was actually a call center

According to Dovey Wan, a founding partner at Primitive Ventures, a local TV station in Shanghai reported that the "Office" of Binance in Shanghai was a call center operated by Babi Finance.

Previously, CryptoSlate reported that Changpeng Zhao, the CEO of Binance, said he would sue crypto publication The Block for reporting that the Shanghai "Office" of Binance was subject to a raid.

Binance Chief Marketing Officer Yi He said in a tweet that the publication "Has been tricked" and that "It's time to apologize to Binance for the false report."

Since the release of the report, Binance has denied that it had a Shanghai office in recent years and said that it has not been raided by the Shanghai police.

Local sources have also said that the report of the Shanghai-based publication noted the office was operated by Babi Finance, a blockchain-related media company, and not directly by Binance.

Binance hasn't had an office in Shanghai for more than two years.

According to The Block Director of Research Larry Cermak, the local Shanghai publication said that Binance hired employees through Babi Finance and that it did not explicitly state that the office in question belonged to Babi.Correct me if I'm wrong but the news said they visited the Binance Shanghai office in person and saw it's closed.

That in the past few years, Binance hired people through Babi Finance.

Regardless of whether or not having centralized offices is "Dumb," Binance unequivocally had office presences in Shanghai.

In an interview with BLOCKTV, Wan emphasized that the Chinese police lack an incentive to target Binance and the office space in question.