Binance Irish units targeted in major US government legal action

US regulator claims crypto giant used ‘maze’ of companies to avoid compliance and obscure ownership

Binance CEO Changpeng Zhao has been named in the CFTC suit. Photo: Antonio Masiello/Getty Images

John Mulligan

Irish subsidiaries of cryptocurrency exchange giant Binance are at the heart of an explosive lawsuit launched against the company and its founder and CEO, Changpeng Zhao in the United States this week.