Binance Referral Stall Appears at Beijing Day-Labor Market
TREE NEWS reports: A video posted on October 25, 2026, by Bilibili creator “峰哥亡命天涯” (Feng Ge’s Desperate Journey) documenting a day of temporary work in Majuqiao, a town on the southeastern edge of Beijing, briefly showed a street stall advertising “Binance referral” (币安拉新) at the 04:08 mark. The footage, which depicts the daily life of day laborers in an area adjacent to the Yizhuang Economic-Technological Development Area, has drawn attention to the grassroots spread of cryptocurrency exchange marketing in China—despite Beijing’s longstanding ban on crypto trading and related business activities.
Context: A Gray-Area Marketing Push
Majuqiao is known as a hub for temporary, cash-based labor, often attracting migrant workers and low-income earners. The presence of a Binance referral booth in such a setting suggests that exchange affiliates are targeting demographics with limited financial literacy, offering sign-up bonuses or commissions for new account registrations. While Binance officially restricts access for mainland Chinese users, referral programs and over-the-counter (OTC) brokers have continued to operate in the shadows, often using informal channels to onboard users.
China’s regulatory stance remains strict: since 2021, all crypto trading and mining activities have been classified as illegal financial activities. However, enforcement at the retail level is uneven, and offshore exchanges have repeatedly been accused of circumventing restrictions through affiliate networks and localized marketing.
Industry Implications
The incident underscores several trends:
- Persistent demand: Despite bans, retail interest in crypto remains, particularly among younger and lower-income groups seeking alternative income streams.
- Affiliate-driven growth: Exchanges rely heavily on referral programs to expand user bases in restrictive markets, often with limited oversight of affiliate conduct.
- Regulatory gaps: While authorities have cracked down on large-scale operations, small-scale street-level promotion is harder to monitor and prosecute.
For Binance, which has faced increased global regulatory scrutiny, such incidents could complicate its efforts to present itself as a compliant actor. The exchange has previously stated that it does not actively market to mainland Chinese users and that it complies with local laws.
Forward-Looking Perspective
As crypto adoption deepens in emerging markets, the line between grassroots education and predatory marketing blurs. Chinese authorities may increase monitoring of offline crypto promotion, especially in economically vulnerable communities. Meanwhile, exchanges will need to tighten affiliate oversight to avoid reputational and regulatory risks. The Majuqiao stall is a small but telling sign that crypto’s reach extends far beyond the digital realm—into the physical streets where day laborers gather.
