But he and his employees aren’t allowed to make more than one trade every 90 days. Binance “does not trade for profit,” and he has a Binance Card account and then one for his own crypto holdings. ![]() He said that’s not true though in his post. And CZ has traded on Binance via two individual accounts.ĬZ, you know that’s not exactly what “market maker” is supposed to mean, right? Plus, no AML or KYC verification needed.Ģ/ CZ’s been counter-trading his own customersīinance traded for profit on its own platform via ~300 “house accounts” that were all owned by CZ and two other trading firms. They keep a user’s true location hidden so even if customers are in the U.S., they can make it appear as though they’re in Europe. VPNs are the magic cloak of the internet. users to use Virtual Private Networks (VPNs) as a loophole. But apparently CZ pulled the ole sneak-a-roo.īinance told U.S. banned Americans from using Binance’s platform in July 2019. Here are the top 7 piping hot allegations:ġ/ Binance secretly let U.S. And there was more tea spilled on the crypto giant than at the Boston Tea Party… We read through the entire 74-page lawsuit so you don’t have to. laws and offering unregistered futures & options trading.ĬZ called the suit “unexpected and disappointing” in a blog post late Monday. The Commodities Futures Trading Commission is suing Binance, CEO/cofounder Changpeng Zhao (AKA CZ,) and ex-chief compliance officer Samuel Lim for allegedly breaking U.S. government is coming after the world’s largest crypto exchange.
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