Coinbase CEO Brian Armstrong explained that the lawsuit filed by the SEC against Binance is different from the lawsuit filed against Coinbase, and the exchanges are also separate from each other.
CEO Brian Armstrong recently to CNBC given a in his interviewfiled by the US Securities and Exchange Commission (SEC). Binance And coinbase compared their cases. Emphasizing the differences between his rival Binance and the SEC lawsuits filed against both companies, the CEO pointed out important points.
Binance CEO Changpeng Zhao (CZ) by no means in the case to the contrary not your own name Reminding that, Armstrong does not make any changes specifically to Coinbase. alleged embezzlement of client funds He also noted that it was not.
Coinbase and Binance really couldn’t be more different. There are two different exchanges and two different cases. The complaint in the Coinbase lawsuit is a technical matter as to whether you classify them as commodities or securities.
In the statement made by the CEO, both cases different legal issues And claims stated to have been addressed. Additionally, Coinbase is alleged to have taken a more regulatory-compliant approach, unlike Binance, which is why it was filed by the SEC. nature of the case And content too was noted to be different.
Emphasizing that Coinbase is based in the USA and that all financial statements are audited regularly Expressing that they are pioneers in this field, Armstrong said:
We are based here in the USA and have never operated a hedge fund or anything that trades against our clients. All our financial statements are audited. Being a pioneer in an industry is not easy. Because of our leading position in this area, we must stand up to and deal with the SEC.