Financial watchdog alleges Binance lied to regulators and syphoned investors’ funds into separate company

The Securities and Exchange Commission filed 13 charges against crypto exchange Binance and its co-founder Changpeng Zhao, alleging that it comingled billions of dollars worth of user funds and sent them to a European company controlled by Zhao.

The SEC accused Binance founder Changpeng Zhao of operating a "web of deception," charging him and his exchange with 13 offences. These ranged from allegedly manipulating Binance's trading volumes and failing to restrict U.

U.S. regulators sued Binance and its CEO Changpeng Zhao on Monday for allegedly operating a "web of deception," piling further pressure on the world's biggest cryptocurrency exchange and sending bitcoin to its lowest in almost three months.

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,

Major cryptocurrencies sank on Monday, after the Securities and Exchange Commission charged the world's largest crypto exchange, Binance Holdings Inc.,

Wall Street’s main regulator accused Binance Holding and its Chief Executive Officer Changpeng Zhao of breaking U.S. securities rules, a major escalation in the legal woes facing the crypto exchange.