Binance and Zhao allegedly undermined the company's own compliance, courted U.S. investors and traded against its customers using market-making companies.

The SEC’s complaint also alleged that Binance and Zhao secretly control customers’ assets, allowing them to commingle and divert customer funds.

The world's largest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the U.S. Securities and Exchange Commission on Monday for failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls,

The U.S. Securities and Exchange Commission today charged Binance Holdings Ltd. and its founding Chief Executive, Changpeng Zhao, with violating securities laws. The SEC has also named a Binance affiliate,

Cryptocurrencies and shares in crypto and blockchain-related companies tumbled on Monday after the U.S. securities regulator sued crypto exchange Binance, another blow to the industry. The U.S. Securities and Exchange Commission sued Binance and its CEO Changpeng Zhao for secretly controlling Binance.

Cryptocurrencies and shares in crypto and blockchain-related companies tumbled on Monday after the U.S. Securities and Exchange Commission sued crypto exchange Binance and its founder, Changpeng Zhao,

Monday, after the U.S. Securities and Exchange Commission charged rival cryptocurrency exchange Binance Holdings Inc. with more than a dozen securities law violations. Among some of the SEC’s allegations were that Binance and founder Changpeng Zhao misled investors about risk controls and corrupted trading volumes,