The SEC’s case against Binance, a live reading by Liz Lopatto – The Verge

The SEC is trying to freeze Binance’s assets

2023-06-06T16:48:12-04:00

The Securities and Exchange Commission is trying to freeze the assets of Binance, the world's largest cryptocurrency exchange. In an emergency motion for a temporary restraining order filed Tuesday (PDF), the SEC says it has made this decision to "ensure the safety of customer assets."

The filing also claims that Binance has engaged in "violative conduct" for years in "disregard of the laws of the United States, evasion of regulatory oversight, and open questions about various financial transfers and the custody and control of Customer Assets."

As part of the order, Binance and CEO Changpeng "CZ" Zhao are required to give up "possession, c …

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The SEC is suing Binance, the world’s largest crypto exchange

2023-06-05T11:43:22-04:00

Binance, the world's largest crypto exchange, operated illegally in the US, the US Securities and Exchange Commission alleges in a new lawsuit. Changpeng Zhao, the exchange's founder, was named in the suit as well.

"Defendants have enriched themselves by billions of U.S. dollars while placing investors' assets at significant risk," the suit begins. It alleges that Binance and Zhao illegally solicited investors, engaged in multiple unregistered investment schemes, and "defrauded equity, retail, and institutional investors about purported surveillance and controls over manipulative trading on the Binance.US Platform, which were in fact virtua …

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Binance really loved telling people to use VPNs, allegedly

2023-03-27T17:38:27-04:00

So I read through the CFTC complaint against the world's largest cryptocurrency exchange, Binance, and it seems like the lawyers are having fun with this one. For instance: "Binance's decision to prioritize commercial success over compliance with US law has been, as Lim paraphrased Zhao's position on the matter, a 'biz decision.'" I never get tired of reading these complaints.

Now to be clear, I don't think Binance is the only entity ever to decide that skirting US law to acquire more customers - after all, US pharma companies have been making billion-dollar settlements over that exact same "biz decision." But I do think explicitly writing …

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Binance, Crypto.com execs tell investors to ‘ask me anything’ following the fall of FTX

2022-11-14T12:13:39-05:00

Both Binance and Crypto.com hosted live question-and-answer sessions on Monday morning in an attempt to reassure investors that the cryptocurrency exchanges won't meet the same fate as FTX, which suffered a sudden and catastrophic collapse last week.

Thanks to the 40,000+ people for listening in. Will try to do this a bit more often given the demand. https://t.co/OkCFNhLv4Y
- CZ ðŸ”¶ BNB (@cz_binance) November 14, 2022

FTX, formerly the world's largest cryptocurrency exchange by volume, filed for bankruptcy after Binance walked back on its deal to purchase the beleaguered firm. Its crash raised concerns among investors over the safety of th …

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Binance invests $200 million in Forbes just two years after suing it for defamation

2022-02-11T20:39:23-05:00

Forbes has announced that Binance, "one of the world's largest cryptocurrency and blockchain infrastructure providers," is making a $200 million investment to own a part of an "iconic business information brand." That money is part of a $400 million private investment in public equity (PIPE) arrangement set up for Forbes to go public by merging with a special purpose acquisition company, or SPAC.

A defamation lawsuit and one crypto hacker/writer weren't enough to stop this deal

The deal makes for an interesting milestone, showing how Web3 firms have reached their "let's buy a media outlet" moment, kind of like Time Warner and AOL, or AT&T an …

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