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Binance and CEO Changpeng Zhao Bolster Legal Defenses Amid Criminal Prosecution Preparation

Binance, the leading cryptocurrency exchange, and its CEO Changpeng Zhao have hired former SEC and Department of Justice prosecutor George Canellos to their legal team, indicating that they are preparing for a significant legal battle.

This comes after the SEC launched a lawsuit against Binance and Zhao, accusing them of operating unregistered securities trading platforms, unauthorized crypto asset securities sales, and fraud. The SEC claims that Binance and Zhao secretly ran their U.S. business, allowing wealthy American customers to avoid regulatory oversight and U.S. laws.

Former SEC official John Reed Stark suggests that Binance's hiring of high-profile defense attorneys like Canellos is a significant legal maneuver in preparation for the battle ahead.

Binance Changpeng Zhao SEC
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