Binance allegedly hid its links to China despite claims it had removed its business from the country in 2017, according to internal documents cited by the Financial Times. The report claimed that Binance instructed employees to hide its presence in China, used a Chinese bank to pay some employees' salaries, and had an office in use until the end of 2019. The company denied the allegations, stating that it does not operate in China or have any servers based in the country. The report comes as the US Commodity Futures Trading Commission sues Binance for unregistered trading activity in the US, among other allegations. Since the announcement, Binance has seen $2.2 billion of cryptocurrency flow out of the exchange.

(By Lucy Harley-McKeown)