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Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software. Binance was initially based in China, but later moved its headquarters out of China following the Chinese government’s increasing regulation of cryptocurrency.
In 2021, The both of the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses put Binance under investigation.
In February 2022, Binance donated $10 million for humanitarian needs in Ukraine amid the 2022 Russian invasion of Ukraine.
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