The SEC’s case against Binance, a live reading by Liz Lopatto
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“[W]hat became clear to me at a certain point was CZ was the CEO of BAM Trading, not me.”
So after the first CEO tried to get some independence, Changpeng Zhao replaced her with CEO B.
BAM CEO B tried to implement plans to migrate those functions and control ofthe crypto assets from Binance to BAM Trading and into the United States, but Zhao quickly overruled him, causing BAM CEO B to resign approximately three months into his tenure.
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