Crypto exchange Binance and its founder Changpeng ‘CZ’ Zhao have been named in a newly filed United Kingdom lawsuit seeking nearly $200 million (approximately 150 million British pounds), acc
Crypto exchange Binance and its founder Changpeng ‘CZ’ Zhao have been named in a newly filed United Kingdom lawsuit seeking nearly $200 million (approximately 150 million British pounds), according to a report from Reuters published Monday. The claim is being brought on behalf of nearly 1,700 British investors.
The suit claims that Binance offered complex and risky financial instruments, including leveraged trading products, to retail customers without the required regulatory approval. Nearly 1,700 British investors are listed as claimants, some of whom reportedly lost tens of thousands of dollars when those products were accessible in late 2019.
