#TrumpTariffs Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software. Binance initially had its headquarters in China, then moved to Japan just before the Chinese government banned cryptocurrency companies. Binance subsequently left Japan for Malta, and currently the company has no official headquarters.

In 2021, Binance was placed under investigation by the United States Department of Justice and the Internal Revenue Service for allegations of money laundering and tax offenses. The Financial Conduct Authority of the United Kingdom ordered Binance to cease all regulated activity in its territory in June 2021. That same year, Binance shared user information, including names and addresses, with the Russian government.

On November 21, 2023, Binance pleaded guilty to federal charges, admitting that it engaged in money laundering, unlicensed money transmission, and violations of sanctions, and agreed to pay nearly 4 billion dollars in fines.