ByBit, the fourth-largest cryptocurrency exchange by volume, is now under scrutiny from US regulators. The Commodity Futures Trading Commission (CFTC) has subpoenaed rival exchange Coinbase for evidence against ByBit. Coinbase users have received emails informing them of the subpoena, which is part of the CFTC’s investigation into ByBit and its CEO, Ben Zhou. ByBit, unlike Coinbase, does not have regulatory approval to operate in the US and is not allowed to serve American citizens. The CFTC aims to hold ByBit accountable for violating this rule. Some investors are drawing parallels between the upcoming action against ByBit and the recent crackdown on Binance. Coinbase may comply with the subpoena by providing information to the CFTC, raising questions about the ethics of sharing user data. If the CFTC succeeds in gathering evidence, Ben Zhou could face trouble.

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Information	Details
Geography	North America
Countries
Sentiment	negative
Relevance Score	1
People	Brian Armstrong, Ben Zhou
Companies	Binance, ByBit, Coinbase, Commodity Futures Trading Commission (CFTC), BitMEX
Currencies	None
Securities	None