The CFTC has filed a lawsuit against Binance in federal court in Chicago, alleging that the company failed to fulfill its obligations by not properly registering with the Commission.
According to scanned copies of the lawsuit circulating online, Binance executives traded on their own exchange, despite it being in contradiction with the law.
Meanwhile, Changpeng Zhao attempted to distance himself publicly from Binance US, although he did not deny his involvement with the platform in private messages.
At the same time, Changpeng Zhao is urging crypto enthusiasts not to panic. He reminds everyone of Rule 4 — ignore FUD.