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Tell HN: Binance does not have an HQ and no one knows who/where their execs are

5 points by senttoschool ↗ HN
* It's an entity that has no headquarters

* No one knows where their executives are or who they are

* No one knows where their CEO is hiding

* Refuses to get audited by a Big4 firm

* Releases sketchy audit statements from unknown audit firms

* Operates in a highly unregulated environment with zero regulation on what they can do with customer funds

* Facilitates the trading of unregistered securities, most of which are probably straight up scams

* Regularly makes statements like "we have the best KYC team in the world!" to fool idiots

8 comments

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senttoschool
They have the audacity to get mad because because people are "spreading FUD".
ipaddr
I would be moving anything you have somewhere else before they freeze accounts and disappear but I have felt this way for a few years
hackerman123469
Isn't Changpeng Zhao the CEO since he founded it and still seems to be running it?

Still a sketchy person and the company as a whole too, especially the fact that the reasoning for no HQ is to be decentralized like crypto, whatever that means in the sense of a company.

senttoschool
Yes, CZ is the CEO and founder. But no one knows where he is exactly.
ratg13
Why does he have to be anywhere?

If he’s not violating any visa requirements, why stay in one place?

I’m not even remotely wealthy and I find a way to work from multiple countries every month.

If I had this sort of money I would take it to another level and work from a much wider range of places.

Home is just the place where my postal mail is waiting for me.

senttoschool
Because he's far more likely to be evading regulation and authorities than just being a digital nomad.

Would you trust a bank with your money that has no HQ and the CEO/founder is no where near any legal jurisdiction?

hackerman123469
My bank is already pure virtual with no physical locations, so yeah I would trust that.

The problem with a crypto exchange isn't "not having an HQ" but rather the lack of regulations. A bank has regulations so they can't really be as scummy. So if there were proper regulations in place then it wouldn't be a problem.

It wouldn't matter if it has an HQ or not, it only matters where the company is registered and how that country regulates it. I believe currently Binance is registered as a company in Singapore, but I could be remembering wrong.

senttoschool
>My bank is already pure virtual with no physical locations, so yeah I would trust that.

I agree. But Binance is neither regulated nor transparent about its HQ, incorporations, executives, CEO.