Binance and CEO CZ face multiple legal battles over unregistered securities promotion.

Binance, its CEO Changpeng Zhao, and three crypto influencers have been sued for $1 billion in damages by Moscowitz Law Firm and Boies Schiller Flexner for listing unregistered securities as cryptocurrencies and paying social media influencers to promote these assets. The lawsuit is filed on behalf of three plaintiffs who said they lost money while trading digital assets promoted by Binance and the influencers. This lawsuit adds to Binance's rising legal troubles, including a recent lawsuit by the Commodities Futures Trading Commission for violating derivative trading laws and reports of investigation by the US Department of Justice.