Binance Drama Continues as OkEx CEO Calls out Shanghai Office Claim

[Danumsigwasan]

Crypto Twitter went into a storm after The Block released an article suggesting that Chinese police had raided Binance, one of the world’s leading exchanges, Shanghai office.



The article said Binance had been raided by police with staff members forced to relocate. Could this spell the end for Binance and more pressure between the cryptocurrency space and Chinese authorities?

However, the situation took a dramatic change after Changpeng Zhao (CZ), CEO of Binance, discredited the article in a tweet, saying: “Binance hasn't had an office in Shanghai for more than two years.”



The Binance CEO didn’t stop there, claiming many exchanges were out to get Binance and were consistently releasing negative stories on the exchange. He later turned his attention towards The Block, also tweeting, “We will be suing”.



The Block replied to CZ in a statement on Twitter::

“In spite of other outlets uncritically reporting Binance's official line on the matter, The Block stands by our sources and reporting that Binance’s Shanghai office was shut down. In the name of transparency, we've unpaywalled the article.” Many people were behind this Tweet and voiced their support.



The social media spat took yet another dramatic turn as OkEx’s Jay Hao went on a Twitter tirade against CZ and Twitter user @truthurtm. The Twitter user had voiced their support for Binance and claimed OkEx was behind much of the negative stories surrounding Binance of late. Something which CZ retweeted.



Hao, CEO of OKEx, hit back, accusing the CZ of paying people to write FUD and then in later posts he began listing the mounting evidence that Binance does have an office in Shanghai.



One tweet illustrated a CoinDesk article that mentions an office in Shanghai in the article. It said: “the new outpost will join Binance’s current mainland China office in Shanghai.”



Hao also tweeted one article cited from Caijing.com. The article had photos of the Shanghai office, and people in Binance hoodies on October 29th, but later when the reporter visited the office again, it was empty.



Local Shanghai TV also reported on the Binance office closure. They said instead of having Binance as the owners, BABI Finance, an outsourced company related to Binance was on the documents.

Hao also pointed out that Binance is the real FUD exchange, using the example of the Alipay and Wechat drama. For those who don’t remember, CZ had said both mobile payment giants could use crypto after an apparent Binance partnership. This was sternly refuted by Alibaba, in a PR disaster for Binance.

So, what do you guys think? Is there an office in Shanghai? Who is telling the truth? Let us know below.

[BlokbizICO]

Not in favour of anyone here, but I can’t logically think in this modern age there is any way possible for any company to hide their office like that, especially if it’s closed!

So I think this is foolish story by Block.

[KYCbench]

Trusting Binance is like asking for the snake not to bite you!

[asriloni]

Not in favour of anyone here, but I can’t logically think in this modern age there is any way possible for any company to hide their office like that, especially if it’s closed!

So I think this is foolish story by Block.

Block is a liar, just because some people have been wearing binance hoodies and block can judge if that was a binance office. I have binance hoodies and I wanna know, does the block will call binance has an office in my country when I will be wearing it to visit some buildings? lol

Block is a joke. Okex CEO was also flaming the problems between binance and the block.
Okex is also wanna attacking binance too.

[Andrew Parker]

Not in favour of anyone here, but I can’t logically think in this modern age there is any way possible for any company to hide their office like that, especially if it’s closed!

So I think this is foolish story by Block.

Block is a liar, just because some people have been wearing binance hoodies and block can judge if that was a binance office. I have binance hoodies and I wanna know, does the block will call binance has an office in my country when I will be wearing it to visit some buildings? lol

Block is a joke. Okex CEO was also flaming the problems between binance and the block.
Okex is also wanna attacking binance too.

This is turning out to be really weird scenario, I believe Binance MUST sue them if they didn’t had any office, it will show clearly who is right and whose

[Ahrvodeex]

I just want one answer and that’s what difference does it make if their office was closed or not?

[tsaroz]

I just want one answer and that’s what difference does it make if their office was closed or not?

It's like getting arrested or leaving the country on your own. A raided office would put multiple data and confidential information related to the exchange in the hands of authorities. It's even sadder to see crypto community being divided for their individual profit than improving the overall crypto community.

[samuraijin]

this is what is called business, if you are not sure about any news it's better to leave and focus on trading, everyone will continue to claim he is right and not see who is wrong here and who is to blame, basically I just congratulate traders who are always focus on news from Block so that it's easier to control to dump and drop the price of bitcoin because of cheap news like this, it doesn't look interesting to discuss again

[Bitcoinjheta]

I just want one answer and that’s what difference does it make if their office was closed or not?

It was being said on the article of cointelegraph.com that Binance has no fixed offices in shanghia or China, these means there has no sense with the police raid, so its not true its FUD. It was a media who fabricating the whole stories about binance.

[slaman29]

Dude this is super old news and has already been proven by theblock to be true that there is a shanghai office. So someone is definitely lying or not telling the whole truth. I don't blame Theblock, they reported what they know to be true, and they were flat out denied, so we all know for sure the lie is that there is no office. Even if it is just a presence, it still employs people and is still an office.

I don't support anyone but anyone who thinks Binance are angels can open their eyes now.

[Sadlife]

Binance being raided was fake news it was reported days ago but i didn't know about this drama thanks for the overview on what's happening. I have to say chinese businessmen are so greedy they're even willing to take their competitors despite being in the same country and countrymen. China is in chaos right now as we all know china is the leading miner when it comes to bitcoin. I hope this issue doesn't affect btc or crypto in anyway.

[livingfree]

Too much of the drama, I thought that it's just going to be CZ vs The Block but now Okex has been involved. If I'm just on China, I'll go personally see and check if they really have an office but, I'll just keep quiet regarding the issue.

If the local tv of China has the answer and reports that it's just an outsourced company of Binance, it's not totally Binance.

[KrisAlex18]

I just want one answer and that’s what difference does it make if their office was closed or not?

It was being said on the article of cointelegraph.com that Binance has no fixed offices in shanghia or China, these means there has no sense with the police raid, so its not true its FUD. It was a media who fabricating the whole stories about binance.

There was a news that already reported this one, I'm not sure if this is it or not. It's true China is taking down illegal and fraud related exchanges on their country, in fact they already taken down 40 exchanges but I never heard that Binance is one of them. Binance as the highest rank exchange is expected to be on this kind of news, FUDs are coming everywhere to hurt binance.

[yptorian]

Obviously Binance is the guilty party here… And not for the first time either!!!

[DaMut]

Dude this is super old news and has already been proven by theblock to be true that there is a shanghai office. So someone is definitely lying or not telling the whole truth. I don't blame Theblock, they reported what they know to be true, and they were flat out denied, so we all know for sure the lie is that there is no office. Even if it is just a presence, it still employs people and is still an office.

I don't support anyone but anyone who thinks Binance are angels can open their eyes now.

the story about the block and binance was an old story but it came up again this time after a rumor police raids binance office in shanghai,
cz claimed they will sue the fud and then okex ceo came in making this drama more lively.
I am sure binance has an office in china because they can pay less in there than in malta.

[masterrex]

Its a childish arguments, I don't care about the article its obviously a paid matter, Money is involve here, I use both Okex and Binance as long as they are both delivered the services it doesn't matter with me. In the question if binance has really have an office in shanghai. I don't care! All i want is a smooth trading transaction no hassle and better security. I don't care about the drama. its a waste of time.

[target]

This is childish. Okex CEO joining to flame all these up, that's a messup guy. He couldn't let all these go but take the stage. They are competitors so we all see the motive here.

If there is a binance office there in Shanghai then data could be compromised but its not as if Okex is going to become a safer place all because Shanghai office was raid.

[Thomas-s]

This is childish. Okex CEO joining to flame all these up, that's a messup guy. He couldn't let all these go but take the stage. They are competitors so we all see the motive here.

If there is a binance office there in Shanghai then data could be compromised but its not as if Okex is going to become a safer place all because Shanghai office was raid.

it is very difficult to understand the true motives of everything that happens between these people. Doing business in Chinese is a special policy. European people are not destined to understand the motivation of the Chinese people. the most important thing for them is profit and I think they are ready to do everything in order to achieve their goals

[JC btc]

This is childish. Okex CEO joining to flame all these up, that's a messup guy. He couldn't let all these go but take the stage. They are competitors so we all see the motive here.

If there is a binance office there in Shanghai then data could be compromised but its not as if Okex is going to become a safer place all because Shanghai office was raid.

Yeah they are all just after the power to bring Binance down as they wanted to be on top too and to become famous just like Binance have which has a lot of real users and traders. Here in our country, majority of the traders are trading only in Binance and no matter what happened, they still and they remained their faith in Binance, they even got panic with the news even when they found out that Binance what  hacked as they know their funds are SAFU.

[BlacksmithCorporation]

The exchanges are increasingly fiercely competitive, when they cannot compete in a healthy way, tricks are used. It's hard to know who is telling the truth, but I think the ones most affected are the users.