Changpeng Zhao built Binance into the world’s biggest digital currency exchange. Now he faces a looming regulatory crackdown in a brutal crypto winter.
(Bloomberg Businessweek) -- During the first few months of this year—back when buying digital tokens named after dog memes was still seen, at least in some of the most forward-thinking circles, as a perfectly reasonable way to participate in finance’s bright new future—the cryptocurrency exchange Binance promoted a new, low-risk way to get in on the action. It urged its customers to invest in something called TerraUSD. The token was...