Binance was founded by Changpeng Zhao and initially based in China. However, it later moved its headquarters out of China due to government regulations.
The decision to shut down Binance.sg was made based on strategic, commercial, and developmental considerations globally.
Coinbase Global, Inc. is an American company founded in 2012 by Brian Armstrong and Fred Ehrsam, operating a cryptocurrency exchange platform.
Compliance Headaches and Investigations
The U.S. Justice Department and Internal Revenue Service have initiated criminal probes into Binance regarding potential money laundering and tax evasion, although Binance has not been officially accused of any wrongdoing.