Changpeng Zhao, the CEO of Binance, has denied rumors on social media that the crypto exchange has been selling bitcoin. He stated on Twitter that Binance has not sold BTC or BNB and still holds a bag of FTT.

The US Securities and Exchange Commission (SEC) has intensified its crackdown on the cryptocurrency sector, including filing lawsuits against Coinbase and Binance, and has profited from its enforcement efforts. According to the annual report for the fiscal year 2022, the regulatory agency generated an income of $14.1 billion during that period, which is an increase of $1.9 from $12.2 billion in 2021.

Binance. US and the Securities and Exchange Commission (SEC) have agreed to work on a deal that avoids a total asset freeze at the cryptocurrency trading platform, which the regulator has accused of operating illegally. The two sides are close to a compromise agreement that protects customer funds without shutting the exchange down while the SEC’s lawsuit proceeds.

Not everyone in the crypto community views the recent SEC lawsuits against Binance and Coinbase as arbitrary or unfair. Joshua Klayman, the US head of fintech and blockchain at law firm Linklaters, believes that the lawsuits are a natural result of SEC chair Gary Gensler's long-held views on cryptocurrencies as securities.

The US Securities and Exchange Commission (SEC) has filed a lawsuit against the cryptocurrency trading platform Binance, seeking to freeze related assets and recover billions of dollars. The judge issued a new order to broker a compromise with a temporary consent decree to prepare for a full hearing on the case.

Binance has announced that it will convert delisted cryptocurrencies, known as "zombie assets," into stablecoins to prevent users' assets from being stuck in limbo. The exchange did not specify which stablecoin these assets would be converted to.

According to Lookonchain monitoring, the largest holder of SHIB has increased holdings of 1.5 trillion SHIB (approximately US$10 million) through Binance and Coinbase. This holder is the largest SHIB holder on the chain other than the exchange address. Addresses starting with 0x40B3 currently hold 5.3 trillion SHIBs (approximately $35.5 million), and previously transferred 200 trillion SHIBs (approximately $134.4 million) to addresses starting with 0x73AF on May 16.

John Reed Stark, former director of the U.S. Securities and Exchange Commission’s (SEC) Office of Internet Enforcement, tweeted that he believes the U.S. Department of Justice will or has filed a sealed criminal indictment related to Binance. The CFTC and SEC complaints, which are more like criminal indictments, include allegations of fraud, deception, obstruction of justice, and money laundering.

Binance responded to the SEC’s appeal, with key arguments including:

Binance and its CEO Changpeng Zhao have filed a rebuttal against the SEC's request for a temporary restraining order that would freeze the assets of Binance.US. The filing argues that the SEC's motion should be denied, as there is no risk to BAM's customer assets and no emergency.