SEC files charges against Binance for mishandling funds and violating U.S. rules.

The Securities and Exchange Commission (SEC) has filed a case against Binance, the world's largest cryptocurrency exchange, accusing it of mishandling customer funds and lying to regulators and investors about its operations. The SEC alleges that Binance mixed billions of dollars in customer funds and secretly sent them to a separate company controlled by Binance's founder, Changpeng Zhao. The charges also include misleading investors about the adequacy of its systems to detect and control manipulative trading and not taking sufficient steps to restrict US investors from accessing Binance's unregulated exchange. Binance is already under investigation by the Justice Department for money-laundering violations.