US CFTC Alleges Binance Traded with 300 Accounts Associated with CEO Changpeng Zhao

The US Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Binance and its CEO, Changpeng "CZ" Zhao, alleging violations of federal laws. A key element of the CFTC\'s claim revolves around Binance\'s trading activities on its own platform.

According to the CFTC, Binance traded with 300 “house accounts” associated with CEO Changpeng Zhao. Moreover, the CFTC alleges that Zhao is the owner of over 300 separate Binance accounts which trade on the platform, including some controlled by entities he owns like Merit. These "house accounts," some directly or indirectly owned by Zhao, were allegedly used for trading on the exchange, a practice the CFTC states Binance had not disclosed. The complaint further alleges that even after Binance purported to restrict U.S. customers from trading on its platform, Binance instructed its customers – in particular its Binance.US to identify important U.S. clients and then push them to.

The allegations state that Binance traded on its own platform using around 300 ‘house accounts’ including some owned by Zhao. The complaint suggests a conflict of interest, as Binance traded on its own exchange using 300 “house accounts” linked to CZ.

A US financial regulator has accused Binance and its chief executive Changpeng Zhao of operating illegally in the country, in a lawsuit that seeks fines and an . According to the CFTC claim, Binance has also been trading on its own platform using around 300 ‘house accounts’ including some owned by Zhao.

The outcome of the lawsuit could have significant repercussions for Binance, its CEO, and the broader cryptocurrency market. Stay tuned for updates as this story develops.