Global crypto exchange Binance and its founder Changpeng “CZ” Zhao have both been named in a U.K. lawsuit seeking nearly $200 million (£150 million), according to a report from Reuters. The lawsuit alleges that the firm offered complex and risky financial instruments, like leveraged trading products, without regulatory approval. The suit includes nearly 1,700 claimants, according to the report, some which lost tens of thousands of dollars when the offerings were available in late 2019.