After reading FT's article, I just can't find any link that Binance has with China except that they might have employees that resided in China and CEO and their founders team are ethnicity Chinese. Anyway, Binance has been stamped as A Chinese company so it is defacto a CPC company. No matter how much and how often CZ tried to deny that and distance itself from China. CZ has a Chinese face so it is CPC agent. Sadly, this is the new reality. As for Crypto, Bitcoin value just rises to $30,000, someone is popping up Crypto even though volume is down and exchanges have been shut.
China is now setting up Hong Kong as a crypto trading center. Binance and other exchanges may move to Hong Kong, bolstering Hong Kong's status as a financial center.