CFTC takes legal action against Binance and CEO.
TL;DR Summary
The US Commodities Futures and Trading Commission (CFTC) has filed a lawsuit against Binance and its CEO, Changpeng Zhao, for regulatory violations. The CFTC alleges that Binance failed to properly register with the derivatives regulator. Binance has been under investigation by the CFTC since 2021 and had acknowledged in February that it would likely face regulatory action in the US. Meanwhile, Bitcoin's hash rate has spiked to all-time highs, with analysts speculating that miners are turning their rigs back on as Bitcoin's price rises.
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