Binance's M&A position wobbles with SEC lawsuit

Following FTX’s collapse last year, many market watchers believed Binance would emerge as the acquirer of ailing crypto companies. • Monday's far-reaching SEC lawsuit against the giant makes that possibility increasingly unlikely. Driving the news: The SEC slapped Binance, Binance.US, and Binance CEO Changpeng (CZ) Zhao with a lawsuit alleging securities law violations, market manipulation, and fraud. • In a flashback to the issues that unraveled FTX, the lawsuit also alleged that the organization commingled funds. Of note: Regulatory pressure on the company has already scuppered at least one deal....