The CFTC dropped a bomb on the world’s largest offshore crypto casino on Monday. It’s suing Binance and its founder Changpeng Zhao (“CZ”) for violating US commodities trading laws. Samuel Lim, Binance’s former chief compliance officer, was also charged with “willfully aiding and abetting” Binance’s violations.

We hope you’re not too shocked to hear that Binance trades against its own customers, or that the CFTC somehow got access to CZ’s phone and private chats on Signal.

This complaint is odd. It reads like it has a shadow twin document — a sealed criminal indictment that’s just waiting until CZ can be extradited.

Read our latest on David’s blog.

Image: The Untouchables