US regulators sue Binance and founder Zhao over 'web of deception'

US regulators sue Binance and founder Zhao over 'web of deception'

FILE PHOTO: Binance logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration

US 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.