Binance receives initial cautionary signal in US jurisdiction

Changpeng Zhao (CZ), the leader of the world’s leading crypto platform, warned his 8.3 million Twitter followers last December. “We expect the next few months to be bumpy, but we will get through this tough time – and we will be stronger for getting through it.” He had invited his subscribers to ignore “fake news” and all those who spread “fear, uncertainty and doubt”.

For the regulator of the American futures markets, the Commodity Futures Trading Commission (CFTC), the doubts are nevertheless lifted. For more than two years, the CFTC had been monitoring Binance Holdings Ltd, the global leader registered in the Cayman Islands, on suspicion of circumventing the rules. She decided to sue him and his leader.