Binance.us rejects the SEC claims about the abuse of user funds

Von Krypto News Österreich

Die US-Tochtergesellschaft von Binance hat Behauptungen der Securities and Exchange Commission (SEC), dass das Unternehmen Benutzervermögen falsch verwaltet habe, als „irreführend“ zurückgewiesen. In einem am Mittwoch eingereichten Antrag verwies die Börse auf widersprüchliche Aussagen der Regulierungsbehörde, die darauf hindeuteten, dass die Vermögenswerte der Kunden tatsächlich nicht außerhalb der Vereinigten Staaten transferiert wurden. Die widersprüchlichen Aussagen der SEC In Screenshots aus einer Mittwochseinreichung später geteilt Von Changpeng Zhao (CZ), CEO von Binance, überprüfte Binance.US ein Gespräch zwischen der SEC und dem Gericht, in dem letzteres die Agentur unter Druck setzte, eine klare Antwort darauf zu geben, ob Binance.US-Vermögenswerte ins Ausland übertragen …
The US subsidiary of Binance has claims by the Securities and Exchange Commission (SEC) that the company has miscalculated user assets as "misleading". In a application submitted on Wednesday, the stock exchange referred to contradictory statements by the regulatory authority, which indicated that the assets of customers were actually not transferred outside the United States. The contradictory statements of the SEC into screenshots from a Wednesday submission later shared by Changpeng Zhao (CZ), CEO von Binance, checked Binance.Us a conversation between the Sec and the court, in which the latter put pressure on the agency, to give a clear answer to whether Binance.Us assets are transferred abroad ... (Symbolbild/KNAT)

The US subsidiary of Binance has claims by the Securities and Exchange Commission (SEC) that the company has misplaced user assets as "misleading".

In an application submitted on Wednesday, the stock exchange referred to contradictory statements by the regulatory authority, which indicated that the assets of the customers were actually not transferred outside the United States.

The contradictory statements of the Sec

In screenshots from a Wednesday submission later shared by changpeng zhao (Cz), CEO of Binance, checked Binance .us A conversation between the SEC and the court in which the latter put the agency under pressure to give a clear answer to whether Binance would be transferred abroad.

"So the assets are currently not being shifted abroad," replied the SEC. "We don't see any flows outside the USA."

lmao @ binance against sec #Firegensler

Court: "I would like to know whether BAM assets go abroad? Is that happening or not? It is astonishing for me that I have now asked this question five times each of the SEC lawyers."

sec: "So the assets are currently not being relocated abroad ... we are not ... pic.twitter.com/qkey5ji

- Baum from Alpha (@Tree_of_alpha) 21. June 2023

The conversation referred to the request of the SEC, the Binance. Us assets to freeze immediately at the beginning of this month, for fear that they would be wasted internationally. This application was later rejected by the judge, who led the case and instructed both parties to negotiate a deal that would enable the platform to continue business and at the same time ensure that the assets are bound to their own country.

In the complaint of the SEC against Binance on June 5, the agency claimed that both Binance and Binance US user assets were "mixed up" within Merit Peak Limited - a company owned and under the control of CZ. The assets of both companies should be kept separately.

"The SEC's statement that the defendants were able to" mix up customer assets or to redirect customer assets at will "in direct contradiction to the SEC's statements that the SEC has no evidence that this has ever happened," Binance wrote in its file.

influencing the market

binance. In addition, there is a risk that his claims through inaccurate information about the evidence against the stock exchange "contaminate the pool of the jury".

If the submission of Binance is approved, this could prevent the SEC from submitting certain public explanations and thus influencing the market, as Binance claimed.

The cryptom market collapsed at the beginning of the month when the SEC announced its lawsuits against Binance and Coinbase. Some of the most affected coins were those who were expressly mentioned in the agency's lawsuits as illegally traded securities, including BNB, Cardano (ADA) and Solana (Sol).

Although Binance.Us can continue business, it has already led to a job cut after the lawsuit, which is expected to affect around 50 employees. A number of bank partners of the platform have also demolished their relationships and forced them to do so US dollar deposits for its customers.

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