Top crypto exchange Binance cooked up a flawed plan to try to dodge a 'nuclear' crackdown by US watchdogs, report says

• Binance crafted a plan to evade scrutiny by US authorities back in 2019, the Wall Street Journal revealed. 
• The plan sought to create a US entity that was wholly independent of Binance's international operations. 
• Any lawsuit from US regulators would be like "nuclear fall out" for Binance, an executive told colleagues. 

Soon after it launched, Binance grew so worried about the "nuclear" threat of US prosecution that it crafted a plan to evade their scrutiny, according to a Wall Street Journal report.

Any lawsuit by US regulators would be like "nuclear fall out" for the crypto exchange's business, a Binance executive told colleagues in a private chat in 2019, per the WSJ report Sunday.