Blockchain icon Changpeng Zhao sued by CFTC, SBF alleged to have paid a $40M bribe to Chinese officials, and a prominent Chinese blockchain exec has resigned over rape allegations.
Binance’s secret U.S. usersBinance and its founder Changpeng Zhao with alleged willful evasion of federal law and operating an illegal digital assets exchange. In the 74 page complaint, the CFTC claimed that despite the exchange’s public position of banning U.S. users, internal documents suggest that at least 20% to 30% of the exchange’s traffic came from U.S. customers. That equates to almost three million alleged U.S. users by mid-2020.U.S.
Since the allegations surfaced, Chicago quantitative trading firm Radix Trading has confirmed that it is one of the three high-volume trading firms onboarded by Binance and listed in the CFTC complaint. In an officialFounded in China by CZ in 2017, Binance quickly became the world’s largest crypto exchange through its low-fee trading mechanisms and wide range of product offerings.
Around the same time the CFTC unveiled its investigation of millions of allegedly undisclosed U.S. users on Binance, a Mar. 23 report by CNBCthat Binance employees or volunteers allegedly shared techniques for Mainland Chinese users to evade the exchange’s KYC verification.
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