China, where cryptocurrencies are considered illegal, is the largest customer base of the Binance exchange. According to the Wall Street Journal, a US media outlet, Binance had a spot and futures trading volume of $90 billion in China in May alone.

Turkey ranks 3rd

While it was stated that most of this figure came from futures transactions, it was noted that Binance’s total spot and futures trading volume worldwide was 670 billion dollars in May. Claiming to report information from a unit called “Mission Control” within Binance, WSJ wrote that South Korea, Turkey and Vietnam came after China

The information the newspaper received from the “Mission Control” unit was not limited to these. The report stated that as of May, the number of China-based users was 5.6 million, of which 911,650 were active users. The number of users of the exchange globally was recorded to be over 128 million.

There are also political personalities

In January, the Wall Street Journal reported a major story about Binance, claiming that more than 100,000 of the exchange’s customers were politically influential. This definition is generally used for those who are in critical positions in government departments or those who are close to these people.

As it is known, the first city where Binance was established was Shanghai, one of the most important regions of China. In 2017, when China banned exchanges and ICOs, the company ended its operations there. At the time, it was claimed that the platform was circumventing this ban through other websites and serving Chinese users in this way.