Binance


Binance is an international, multi-language cryptocurrency exchange. The service raised 15 million dollars in a July 2017 Initial Coin Offering for its ERC20 BNB token. CEO Changpeng Zhao had previously founded Fusion Systems in 2005 in Shanghai; the company built high-frequency trading systems for brokers. In 2013 he joined Blockchain.info as the third member of the cryptocurrency wallet’s team. He also worked at OKCoin as CTO for less than a year, a platform for spot trading between fiat and digital assets.The other founder, Yi He, had also worked at OKCoin as head of branding and marketing head of the virtual currency exchange OKCoin; she had also worked at Yixia Tech.

Users on the Binance Exchange can receive a 50% discount on trading fees by paying with the BNB token. Since the Binance ICO, a number of new exchanges have adopted the ICO model, issuing their own tokens

The company was founded in China but moved its servers and headquarters out of China and into Japan in advance of the Chinese government ban on cryptocurrency trading in September 2017. By March 2018 the company had established offices in Taiwan.

As of January 2018 it was largest crypto-exchange with a BNB market capitalization of $1.3 billion.

In March 2018, allegations were made that Binance, along with OKex and Huobi, were fabricating trading volumes on their platforms by up to 92.9%. Commenting on the study, author Sylvain Ribes said "I found ridiculously massive discrepancies between exchanges. Not the kind that can be easily hand-waved away, but the kind that can only be explained by some figures being overstated as much as 95%”.[10] Following this, Binance announced its intentions to open an office in Malta after stricter regulations in Japan and China.