Binance, the world’s largest cryptocurrency exchange, allegedly experienced illegal growth in its early days by relying on its American clients. Despite not being a registered U.S. business, Binance targeted growth in the country, particularly among “VIP” users who drove the exchange’s trading volume and revenue. The government claims that Binance’s executives closely monitored and tracked the exchange’s performance in the U.S., even boasting about their success. In early 2018, as much as 30% of Binance’s web traffic and revenue originated from the U.S. The filing also reveals years of compliance failures and attempts to protect these valuable but off-limits users.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	None
Companies	Binance
Currencies	None
Securities	None