Nearly 1,700 investors in the United Kingdom sue cryptocurrency exchange Binance and its founder, Changpeng Zhao (CZ), in London High Court filings, according to multiple reports. The claimants are seeking at least £150 million (about US$200 million), alleging Binance and related entities sold customers risky and complex derivatives products without appropriate regulatory authorisation. The lawsuits focus on the sale and promotion of leveraged trading products, which can amplify both gains and losses, with some claimants saying they lost tens of thousands of pounds. One account reported losses of more than US$132,000 from Binance’s derivatives offerings prior to later restrictions on Binance. The claimants argue the products were offered in breach of UK financial services rules, and that Binance and its entities knowingly marketed the investments. The cases allege the conduct occurred from late 2019, with the investors contending that they were not properly regulated at the point of sale. The reports characterise the matter as a civil claim brought in the UK, with details of the alleged wrongdoing set out in the lawsuit filings.