Binance execs’ texts, documents show plan to avoid US scrutiny

Binance, one of the world’s largest cryptocurrency exchanges, developed a plan to avoid the threat of prosecution by U.S. authorities as it started an American entity in 2019, the Wall Street Journal reported on Sunday.

Any lawsuit from U.S. regulators, who had signaled a coming crackdown on unregulated offshore crypto players, would be like “nuclear fall out” for Binance’s business and its officers, the WSJ said, citing a Binance executive’s warning to colleagues in a 2019 private chat.