U.S. Crypto Crackdown Puts Pressure on Binance.

Binance, the world's largest cryptocurrency exchange, is facing mounting legal pressure as the US government investigates the company for money laundering violations and the Securities and Exchange Commission looks into its business practices. The Commodity Futures Trading Commission has already sued Binance's founder and CEO, Changpeng Zhao, for compliance failures that allowed criminals to launder money on the platform. Criminal charges against Binance or its CEO could cause mass panic in the crypto markets, which are still recovering from the FTX exchange's collapse and the arrest of its founder. Binance has responded by hiring compliance officials and forming a political action committee to push its agenda in Washington.