Binance keeps over 400 Singapore-based employees despite the crypto crackdown: report
2025-07-02 07:29:18
Main Idea
Binance will retain over 400 employees in Singapore despite the Monetary Authority of Singapore's crackdown on unlicensed crypto firms, as the new regulations are not expected to significantly impact its operations.
Key Points
1. Binance will keep more than 400 Singapore-based employees after the Monetary Authority of Singapore's June 30 deadline for unlicensed crypto firms to cease operations.
2. Bloomberg's analysis found these employees based on LinkedIn profiles, noting Binance's remote-first work policy.
3. Binance CEO Richard Teng stated in January 2025 that the company operates remotely with over 50 global office locations and no declared headquarters.
4. Singapore's financial authorities issued a final warning for unlicensed crypto exchanges, but Binance insiders say the rules won't significantly affect its operations.
5. Singapore hosts major crypto firms like Coinbase and OKX, but Binance's compliance strategy allows it to continue operations despite regulatory changes.
Description
Binance will reportedly keep its over 400 of its workers based in Singapore, despite a crackdown on unlicensed crypto firms in the region after the June 30 deadline passed. According to a recent Bloomberg report , the world’s largest crypto exchange by trading volume will maintain its Singapore -based workers even after the Monetary Authority of Singapore’s deadline for crypto firms to cease operations in the region by June 30 has come to pass. Bloomberg’s analysis found that more than 400 of th...
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