CEO of Binance actually gives a f***. This is the exact moment he was introduced to the Bermuda Shorts by the Bermuda Development Agency; A formal dress code in the country :
Bermuda Shorts
Can I Wear a Suit With Shorts? – StudioSuits
Formal Dress - Picture of Grotto Bay Beach Resort & Spa, Bermuda - Tripadvisor
Dress Code: How to Wear Bermuda Shorts | Condé Nast Traveler