Binance Holdings Ltd., branded Binance, is a globalcompany that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies.
Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high frequency trading software. Binance was initially based in China, then moved its headquarters out of China shortly before the Chinese government imposed regulations on cryptocurrency trading.
In 2021, Binance was put under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money launderingand tax offenses. The UK's Financial Conduct Authority ordered Binance to stop all regulated activity in the United Kingdom in June 2021.
In 2021, Binance shared client data, including names and addresses, with the Russian government.