The United States Securities and Exchange Commission (SEC) has submitted a new filing to support its motion to dig deeper into the operations of Binance Exchange and its affiliated subsidiaries. Citing a number of reasons for its unwavering stance to check all of its boxes in its bid to gather all evidence it requires in its Discovery phase in the ongoing lawsuit, the regulator hammered on the mass exodus from the trading platform as a development that might hamper its intended depositions.
Recall that Binance.US’s CEO Brian Schroder left the company as reported by Coingape earlier. While there has been a number of permutations and assumptions surrounding this exit, CEO, Changpeng ‘CZ’ Zhao has debunked the FUD surrounding it, noting that the exits were earned and will not disrupt the operational capabilities of the firm.
Though the strain is much for Binance.US at this time, the new CEO, Norman Reed who has a rich history with Ripple Labs has been signed on to lead the platform moving forward.
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