The SEC’s case against Binance, a live reading by Liz Lopatto
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Here’s a fun corporate ownership flowchart.
The point here is that Zhao directly controlled Binance US, including hiring the first CEO of BAM Trading. This CEO, unnamed in the documents, took direct orders from Zhao and called Binance the “mothership.”
Also:
Zhao gave final signoff on various decisions relating to the Binance.US Platform’s trading services, including customer account opening processes, development of the front-end access, and creating a reserve to cover ACH deposits.
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