Binances SEC Rebuff: A Shocking Blow to Media Virality

By Lola Coin Jun 26, 202363Views

A federal judge has denied Binance’s request to rebuke the US Securities and Exchange Commission (SEC) over language used in a press release. Binance’s lawyers objected to the SEC’s description of alleged commingling and diversion of customer assets, claiming it could prejudice a jury. The judge dismissed the motion, stating that court intervention was not necessary at this time. The SEC wants to freeze assets for Binance and its owner, Changpeng ‘CZ’ Zhao, as well as bar them from doing business in the US. The agency claims that Binance and Binance.US redirected billions in customer funds to investment vehicles controlled by Zhao. The judge has set a deadline of September 21 for Binance’s response in the civil case.

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