DogecoinDOGE/USD and Shiba InuSHIB/USD shares aretrading lower Monday afternoon amid broader weakness across cryptocurrencies.
Shares of several altcoins are trading lower following reports Binance and co-founder, Changpeng Zhao(CZ), were sued by the CFTC over US regulatory violations.
The regulatory body accused the company of violating trading and derivatives regulations,Bloombergreported.
The legal action was initiated on Monday in a federal court located in Chicago.
CZhad recentlyraised concerns over the recent shutdown of cryptocurrency friendly banks, stating that it feels like there is a coordinated effort by the U.S. government to shut down such banks.
According to data fromBenzinga Pro: DOGE is trading lower by 3.05% to $0.071 SHIB is lower by 3.21% to $0.00001024
