![]() The documents are expected to be available in the coming days. Those documents were sealed or redacted at the SEC’s request and are now being unsealed at its request. 15 granting the SEC a motion to unsealed documents on the case. In another development, a judge issued an order on Sept. The SEC recently accused the exchange of non-cooperation in the ongoing investigation, claiming it produced only 220 documents during the discovery process. We are grateful for his contributions.”īinance.US’s problems seem to be far from over. “Under his leadership, Binance.US raised capital, improved its product and service offerings, solidified internal processes, and gained significant market share, all of which helped to build a more resilient company for the benefit of customers. Department of Justice into Binance, its CEO Changpeng “CZ” Zhao, and Binance.US. In response to speculation surrounding Shorder’s departure, CZ said on X (formerly Twitter) that the executive was taking a “deserved break.” CZ wrote: Following Shorder’s departure, head of legal Krishna Juvvadi and chief risk officer Sidney Majalya announced their resignations as well.Īccording to reports, the departures are allegedly due to an ongoing investigation by the U.S. Brian Shorder, then CEO of Binance.US, stepped down last week, joining a number of global executives who left the group of companies over the past weeks. Since the lawsuit, Binance.US halted trading for over 100 token pairs, contributing to a sharp decline in exchange activity.īinance.US turmoil also comes with internal challenges. As per the SEC, Binance.US allegedly failed to register as a broker-dealer and failed to register the offer and sale of its staking-as-a-service programme. On June 5, the Securities and Exchange Commission filed a lawsuit against both crypto exchanges on charges related to unregistered securities offerings, and wash trading, among other violations. Source: The Tie Terminal/Amberdataīinance.US is the offshoot in the United States of global crypto exchange Binance. Binance.US exchange volume over the past 12 months. 17, 2022, when its trading volume was around $230 million. 9, when trading activity totaled $2.97 million. This is a significant drop compared to Sep. The lowest point for the month was on Sep. 16, exchange volume stood at $5.09 million on Binance.US, as reported by Amberdata on The Tie Terminal. Trading activity on Binance.US has reached new lows in September, as the crypto exchange faces unprecedented challenges.
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