SEC Cites “Mass Exodus” At Binance In A Fresh Filing

SEC Cites “Mass Exodus” At Binance In A Fresh Filing

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.

This is a breaking news, please check back for updates

✓ Share:

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.


Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!