US sues Binance, founder Zhao alleging securities law violations
Edited By WION Video Desk
Published: Jun 06, 2023, 05:05 IST | Updated: Jun 06, 2023, 05:05 IST
Binance and its founder-CEO Changpeng Zhao are accused of operating a web of deception that included artificially inflating its trading volumes and diverting customer assets. The US regulators also alleged that Sigma Chain, a trading firm owned and controlled by Zhao, engaged in wash trading between September 2019 and June 2022. The wash trading included artificially inflating the trading volume of crypto asset securities on Binance.
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