John Reed Stark, former director of the U.S. Securities and Exchange Commission’s (SEC) Office of Internet Enforcement, tweeted that he believes the U.S. Department of Justice will or has filed a sealed criminal indictment related to Binance. The CFTC and SEC complaints, which are more like criminal indictments, include allegations of fraud, deception, obstruction of justice, and money laundering.

The CFTC accused Binance of violating its rules, saying former chief compliance officer Samuel Lim aided and abetted the violations; the SEC alleged that certain Binance entities and Changpeng Zhao mixed billions of dollars in customer funds and sent them to a network controlled by Changpeng Zhao. Another company owned by the company, benefiting itself billions of dollars. In addition, both agencies allege that Changpeng Zhao designed, perpetrated, and participated in a wide-ranging deception.