Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators

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With additional reporting from Jason Brett. Changpeng Zhao, chief executive officer of Binance, exploded onto the cryptocurrency scene in 2017 with a new business model that rewarded customers with his company’s own cryptocurrency, then let them pay fees with the same currency.
Andrey Rudakov/Bloomberg
Binance Holdings Limited, the world’s largest cryptocurrency exchange conceived of an elaborate corporate structure designed to intentionally deceive regulators and surreptitiously profit …

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