The case of a major US regulator against Binance Holdings Ltd it is multiplying well beyond Changpeng Zhao's company and rattling American companies that officials say worked with the exchange to trade cryptocurrencies.
The Commodity Futures Trading Commission's scrutiny of deals three trading firms had with the exchange has already sent chills through an industry that relies on US licenses to build stock markets. The companies were not identified in the CFTC's lawsuit.
