Recent reports that Chinese authorities have raided the offices of leading cryptocurrency exchange Binance, are actually quite false. Speaking to Cointelegraph on Nov. 21, a Binance spokesperson refuted media reports that Chinese police had raided and subsequently shut down the exchange's Shanghai offices.

"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." The spokesperson also stated that Binance is being targeted in the Chinese media, adding that there has been "a recent spike in the number of negative articles and activities against Binance" in the country. The exchange said that it is concentrating on building its blockchain and cryptocurrency ecosystems, and that it would "Work closely with any government to protect users and grow the blockchain industry." As Cointelegraph reported earlier today, the rumors of a police raid and closure of Binance's offices were accompanied by a sharp drop in cryptocurrency prices, which at press time are still seeing notable losses.

Among the world's active cryptocurrency exchanges, Binance is a behemoth.