China still Binance's biggest market with $90 billion in volume despite crypto ban: WSJ

The crypto exchange had over $90 billion in trading volume from China in May, the WSJ reported citing internal documents.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Binance still gets most of its business from China despite crypto being illegal in the country., citing an internal platform at Binance named"Mission Control." Most of that volume came from futures trading.

Binance had 5.6 million China-based users as of May, of which 911,650 were active, according to Mission Control. Overall, the crypto exchange has a total of. As of January, the WSJ said about 100,000 Chinese users at Binance were classified as"politically exposed persons" , citing internal company documents and a former employee. PEPs are individuals who hold influential positions in government offices or have close associations with such individuals.

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WSJ News Exclusive | Crypto Is Illegal in China. Binance Does $90 Billion of Business There Anyway.Binance, the world’s largest crypto exchange, was supposed to leave China when the country made crypto trading illegal. Almost two years later, users traded $90 billion of cryptocurrency-related assets there in a single month.
Source: WSJ - 🏆 98. / 63 Read more »