SEC Sues Binance Billionaire Changpeng Zhao for Alleged Unregistered Exchange Activity
The U.S. Securities and Exchange Commission targeted the most influential figure in the cryptocurrency industry on Monday. The Securities and Exchange Commission (SEC) accused Binance founder Changpeng Zhao of “running a fraud network” and charged him and his exchange with 13. These ranged from Binance’s alleged manipulation of trading volumes and inability to shut out US customers from the unregulated platform to mixing and moving billions of dollars of customer funds “as they please”. The complaint continues to threaten Zhao’s vast business empire, which has dominated the cryptocurrency industry for…
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