![]() It also requires SEC oversight on any spending and prohibits the defendants from destroying records, the agency said in a statement. federal judge Amy Berman Jackson prevents the defendants from spending corporate assets other than for ordinary business expenses. At some point, one of the market makers blew 11 million on a yacht. Binance and Coinbase are huge cases that would demand heavy department resources, points out Yesha Yadav, a law professor at Vanderbilt. It filed similar charges against the world’s other top cryptocurrency exchange, Coinbase, nearly simultaneously.īut Binance and its CEO, Changpeng Zhao, face additional charges of diverting customer funds – concealing the fact that it was commingling billions of dollars in investor assets and sending them to a third party that Zhao also owned.Īs a result, the SEC asked that the assets of Binance’s U.S. Meanwhile, Binance sloshed moneysome of it customer fundsbetween Binance.US, the market makers, and the parent company. The SEC may be happy to see Binance kicked to a criminal court. ![]() law by operating as an unregistered securities exchange. ![]() I am just visiting here, I am not resident. Just logged got a message that I have to withdraw all my funds in 14 days because I am not allow to trade in US. The next issue of Financial Post Top Stories will soon be in your inbox. With a trading volume of over 24 billion, Binance is the world’s largest cryptocurrency exchange. by carnyzzz BINANCE - I am visiting USA and accessed the site, receive a warning of 14 days closing account but I am from Europe I am in US. Just google 'Binance US reddit' and you will find a slew of people crap-talking Binances US version. If you don't see it, please check your junk folder. Published 6:49 AM EDT, Tue JLink Copied Binance CEO Changpeng Zhao and his company were sued by the US Securities and Exchange Commission Monday.
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