Crypto Exchange Binance Says No Shanghai Office Amid Raid Rumors

Binance Holdings Ltd., operator of one of the world’s largest cryptocurrency exchanges, said it doesn’t have any “fixed offices in Shanghai or China” amid rumors that police raided the facilities in the nation’s biggest city.

“Any reports of a police raid are false,” Leah Li, a spokeswoman for Malta-based Binance, said in an email. “We do not have an office in Shanghai.”

The speculation, being spread on Twitter, is likely partly responsible for Bitcoin’s drop of as much as 8.4% Thursday, according to Nic Carter, co-founder of researcher Coin Metrics.

Bitcoin broke below $8,000 Thursday for the first time in…

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