Binance And Changpeng Zhao: SEC Wants To Prove FTX-Style Fraud, Says Report
Portfolio Pulse from Murtuza Merchant
The SEC is investigating Binance and Changpeng Zhao for potential control over assets on Binance.US, similar to the FTX scandal. Despite previous settlements with the SEC, Binance.US's legal team is seeking to end the SEC's fraud investigation, citing a lack of evidence and significant business impact. The judge has urged resolution of evidentiary issues by Dec. 15, while Zhao is required to remain in the U.S. pending a DOJ motion.
November 28, 2023 | 5:21 pm
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The SEC's ongoing investigation into Binance and its CEO could lead to increased regulatory scrutiny and potential legal challenges, possibly affecting the trust and value of Binance Coin (BNB).
The article directly mentions Binance and the SEC's investigation, which typically leads to negative sentiment among investors and could result in a decrease in the value of Binance Coin (BNB) in the short term due to fears of regulatory actions and potential operational disruptions.
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