SEC Targets Crypto With Coinbase and Binance Lawsuits

The SEC filed 13 charges against Binance and its CEO, accusing them of misleading customers and misusing funds.
Binance allegedly diverted funds to a separate entity owned by its CEO, which engaged in manipulative trading to boost trading volume on Binance.US.
The SEC claims that Binance commingled billions of dollars of investor money and sent it to another third party owned by the CEO.
The SEC alleges that Binance deliberately sidestepped geo-restrictions to allow US users to trade on its international platform and misled investors about risk controls.
The SEC claims that Coinbase knowingly operated an unregistered securities exchange by selling tokens to US investors.