The US Securities and Exchange Commission (SEC) is trying to find evidence that Binance.US is committing fraud similar to FTX.
According to information provided by the Wall Street Journal, the SEC has filed a lawsuit against Binance and its former CEO, Changpeng Zhao. Backdoor access to Binance.US is and misuse of customers’ money He’s trying to prove it.
At a hearing held yesterday, Binance.US lawyers argued that the SEC found no evidence of misuse of customer funds Arguing, he requested Judge Zia Faruqui to drop the institution’s investigation into the company.
Binance reached a $4.3 billion settlement with the US Department of Justice for violating money laundering and sanctions laws. But in compromise SEC’s fraud allegations not included.
Reportedly, Judge Faruqui ruled that the misuse of customer funds could not be ruled out, based on the guilty pleas of Binance and former CEO Changpeng Zhao. not likely he thinks.
Faruqui told SEC lawyers, “At some point, I have to take a leap of faith and say enough is enough.” He is quoted as saying.
Faruqui, Binance.US and SEC’s dispute to December 15 He wants them to solve it and inform him.