Police raid on Binance’s Chinese offices. CZ denies, The Block confirms – Bitcoin – News 2020

According to anonymous internal sources at Binance, reported by the media The Block, the premises occupied in Shanghai by the world leader in crypto exchanges have been taken over by the Chinese police forces.

However, the information should be viewed with caution, as there is so much conflicting information.

Chanzeng Zhao, the emblematic boss of Binance has for the moment denied what he considers a fake news likely to feed the FUD, in the midst of the crypto market collapse. A pitched battle between CZ and The Block is currently raging through social networks.

It’s here breaking news of the night. While the entire crypto market sees red, the famous (and rather solid) American media The Block drop a bomb: the premises of Binance in Shanghai was reportedly raided by Chinese police.

The block mentions anonymous exchange workers who witnessed the events. The media also indicates that several exchange executives and between 50 and 100 employees worked in these offices.

The inconsistency of certain testimonies is however highlighted in this report.

CZ’s ghost offices and response

If the news does not go unnoticed, it did not take long before a Binance spokesperson reacted with a rather convincing argument: All this is very frightening, but it would be even more so if Binance… had offices in Shanghai !

Indeed, said spokesperson stresses that if Binance does employ staff in China, they work according to the company most of the time, remotely.

The opportunity for CZ, which is still a Zen Master in the art of crisis management, to communicate promptly in the field of irony and disruption, two values ​​dear to the heart of the crypto community: In a tweet (since withdrawn), CZ indicated that the concept of physical office “Was an idea from the past”.

Binance does Block

Changpeng Zhao also quickly shouted at market-based manipulation FUD (Fear Incertainely and Doubt), denying all the facts as a whole.

“No police, no raid, no office. I hope you didn’t pay to read this block of FUD. “

The mention in this tweet of “Block of FUD” must obviously be understood as an arrow unchecked from the media of the same name with which the atmosphere is becoming tense from hour to hour.

Indeed, The Block seems to question the argument of “No office in China, no possibility of raid” indicating to have noted the existence of said offices.

Indeed, if Binance denies the simple existence of a Chinese office, The Block indicated that it had seen photos demonstrating the opposite during conversations with representatives of the crypto stock exchange, in the context of the future opening of offices in Beijing.

The Block, immediately suspected by word covered by CZ of playing a partisan game, defends itself in good faith and the rigor of its investigation. The media indicates in passing that it has demonetized the page containing the information, so as not to be accused of trying an editorial coup.

“Despite the fact that other media outlets have uncritically reported Binance’s official position on the matter, The Block remains true to its sources and reports that Binance’s Shanghai office has been closed.
In the name of transparency, we have demonetized the article. ”

In a slightly lighter tone, it didn’t take long to see the appearance the first diversions:

Leak: Binance’s new offices in Shanghai (source)

Difficult still to sort between the different versions, that of Binance, which treats this news as the last fake news came, to the position of The Block which plays in the operation, part of its credibility as a media of reference. Bitcoin will keep you informed of upcoming – and most likely incredible – developments of the kind of business the industry would do well.

Police raid on Binance’s Chinese offices. CZ denies, The Block confirms – Bitcoin – News 2020
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