South Korean Crypto exchange Bithumb Quashes has denied recent reports claiming Chinese authorities raided its offices in Shanghai. Nov 11, A Bithumb spokesman informed the press that the recent rumors;  of a police raid and closure of the exchange offices in Shanghai are false. The team is still operating steadily without pause.  Meanwhile, yesterday a Chinese Media reportedly wrote that Bithumb had told its employees to take a long vacation without informing them further details on when to return to work. Also these news reports, Bithumb Quashes has denied.

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<h2>Binance is also denying media reports</h2>
Major cryptocurrency exchange Binance also stepped forward to deny media reports; that claimed Chinese Police had raided and subsequently closed the exchanges Shanghai offices; details upon which the exchange stated “ Dont even exist”
<blockquote>“The Binance team is a global movement consisting of people working in a decentralized manner; wherever they are in the world. Binance has no fixed offices in Shanghai or China, so it makes no sense that police raided on any offices and shut them down.”</blockquote>
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A Binance spokesperson explained that the exchange is apparently being targeted by Chinese Media; pointing out a rising spike in the amount of negative articles, reports and activities issued against Binance in China. The spokesman further claimed: 
<blockquote>“We also encourage our friends from the media to verify if their ‘sources’ are telling the truth or presenting their own agenda.”

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<h2>Crypto markets take a dive amid reports</h2>
The Chinese media reports or the so called rumors of police raids and shut down of <a href="https://www.cryptoknowmics.com/crypto/binance-to-advice-ukraine-on-cryptocurrency-legal-status/">Binanc</a>e and Bithumb Quashes offices in China’s City of <a href="https://en.wikipedia.org/wiki/Shanghai">Shanghai</a>; accompanied by a sharp drop in crypto prices, which according to press time, were in a trend of finding new lows. The world’s largest cryptocurrency , Bitcoin (BTC) for instance took a significant dip of around 5% on the daily trading chart. Slumping to a price of $7,640 per coin. 

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Bithumb Quashes Rumours of  Shanghai Office Closure After Binance Denial

South Korean Crypto exchange Bithumb Quashes has denied recent reports claiming Chinese authorities raided its offices in Shanghai.

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

Bithumb Quashes Rumours of Shanghai Office Closure After Binance Denial

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