SEC sues Binance and CEO Changpeng Zhao for U.S. securities violations

The SEC sued crypto exchange Binance and its billionaire founder, Changpeng Zhao, alleging that they worked to attract U.S. customers to its unregulated international exchange, commingled investor funds with their own and violated securities laws. The 13 charges come after the CFTC unveiled a similar complaint against Binance and Zhao earlier this year. Zhao dismissed the allegations on Twitter.