Binance's Singapore affiliate withdraws its application to run an exchange in the city-state, ending its efforts to win approval from the government's authorities. Binance.sg will close by Feb. 13, Binance Asia told Bloomberg in an emailed statement. The news is likely to tamp down the speculation that Singapore will become the site of Binance's global headquarters. The company considered "strategic, commercial, and developmental consideration globally" in its decision to withdraw its Singapore application, the company said. "We always put our users first, so our decision to close Binance.sg was not taken lightly," Richard Teng, CEO of Binance’s Singapore entity, said. Changpeng Zhao, who founded and heads Binance, is a Canadian citizen who has been based in Singapore for the past two years. He recently bought a home in Dubai, a region he has described as "very pro-crypto," according to The Telegraph. Zhao said in a tweet on Monday that Binance
