⚠️ binance filed a motion calling out the SEC for contradictory statements! What were the conflicting claims? Read more here -
The conversation related to the SEC’s request to place an immediate freeze on Binance.US assets earlier this month, due to fear that they were being dissipated internationally. That request was later denied by the judge presiding over the case, whoboth parties to negotiate a deal that would allow the platform to continue business operations while ensuring assets stayed homebound.
In the SEC’s lawsuit against Binance on June 5, the agency claimed that both Binance and Binance US “commingled” billions of dollars in user assets within Merit Peak Limited – an entity owned and controlled by CZ. Assets from both firms are supposed to be kept separate. “SEC’s statement that Defendants have been ‘able to commingle customer assets or divert customer assets as they please’ is directly contradicted by the SEC’s statements to the Court that the SEC has no evidence of that ever occurring,” wrote Binance in its filing.Binance.US added that the SEC’s comments risk producing unwarranted marketplace confusion that could harm its customers.
If Binance’s filing is approved, it could prevent the SEC from making certain public statements, and thus affecting the market as Binance has alleged. The crypto market slid earlier this month when the SEC announced its cases against Binance and Coinbase. Some of the hardest hit coins were those specifically named within the agency’s lawsuits as illegally traded securities, including BNB,
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