2018–2019: launch of stable coin and security breach Zhao asked He to join Binance, and she helped rewrite parts of the white paper for Binance's $15 million initial coin offering. The company was founded in 2017 in China but moved its servers and headquarters out of the country in advance of the Chinese government's ban on cryptocurrency trading in September 2017. He was hired at this position in 2014 by Yi He, with whom he co-founded Binance several years later. He also worked at OKCoin as CTO for less than a year, a platform for spot trading between fiat and digital assets. In 2013, he joined as the third member of the cryptocurrency wallet's team. 2013–2017: company beginnings and move out of ChinaĬEO Changpeng Zhao had previously founded Fusion Systems in 2005 in Shanghai the company built high-frequency trading systems for stockbrokers. History 5 years birthday Binance cake in Paris in July 2022. That same year, Binance shared client data, including names and addresses, with the Russian government. The UK's Financial Conduct Authority ordered Binance to stop all regulated activity in the United Kingdom in June 2021. In 2021, Binance was put under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses. Binance was initially based in China, then moved its headquarters out of China shortly before the Chinese government imposed regulations on cryptocurrency trading. Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high frequency trading software. Binance Holdings Ltd., branded Binance, is a global company that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies.

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