Binance's Largest Market is China: WSJ

📆 02/08/2023 17.13.00
📰 CoinDesk

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Despite the crypto ban in China, the country is Binance's largest market, according to a WSJ report. thesamreynolds writes.

The Journal reports that despite the ban on crypto within China, teams from Binance regularly collaborate with Chinese law enforcement to detect potential criminal activity. It also has 900,000 active users in-country, according to the Journal.Data from the Journal shows that China is a $80.6 billion futures market and a $9.4 billion spot market for Binance. South Korea provides $56.9 billion in futures volume and $1.39 billion in spot volume.

Typically traders based in China use a combination of a Virtual Private Network and a digital residency program such as

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China still Binance's biggest market with $90 billion in volume despite crypto ban: WSJChina is still Binance's biggest market despite the country's crypto ban, with the exchange having over $90 billion in volume in May, the WSJ reported citing internal documents.
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