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Does Binance have a market maker?

REUTERS/Dado Ruvic Acquire Licensing Rights LONDON, Feb 17 (Reuters) - The U.S. partner of global cryptocurrency exchange Binance has confirmed that a trading firm managed by Binance CEO Changpeng Zhao operated as a market maker on its platform.

Are Binance & Zhao facing a lawsuit from the SEC?

Binance and Zhao face a barrage of lawsuits from the SEC. That's something that crypto companies have fought tooth and nail. By design, crypto is supposed to operate outside of the traditional financial system. What many crypto companies want are new rules of the road that are crypto-specific.

What's going on with Binance?

In many ways, this is an existential fight for these companies. Binance, perhaps, faces the most serious allegations, including that the exchange and its CEO, Changpeng Zhao misled investors about the exchange's ability to detect market manipulation, and it misused customer funds.

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