CZ and Binance are Accused of Violating the U.S. Securities Act and Exchange Act could Face Five Penalties
Key aspects of CZ and related companies alleged by the SEC to have violated the U.S. Securities Act and Exchange Act include: 1) issuing and selling unregistered securities; 2) influencing trading in unregistered securities on the Coin platform; 3) combining core securities market functions and knowingly evading registration; and 4) clearly violating conflict of interest principles.
Coin Security Responded That the SEC Complaint Aims To Unilaterally Define the Cryptocurrency Market Structure
The United States Securities and Exchange Commission (SEC) has filed a complaint against Binance, attempting to unilaterally define the structure of the crypto market. Although Binance actively cooperated with the investigation and conducted friendly discussions, the SEC chose to take unilateral action and file a lawsuit. This action is considered a lack of thoughtful and meticulous regulatory methods, and may weaken the United States' position as the center of global financial leadership. Binance will work with industry partners to protect this important technology from misleading litigation and continue to strive to provide users with a safe and reliable platform.
The SEC Claims That SOL, ADA, MATIC, FIL, ATOM, SAND, etc. Are All Securities
SEC claiming SOL, ADA, MATIC, FIL, ATOM, SAND etc are all securities.
The SEC Accuses CZ Individuals of Receiving $62.5 Million From a Bank Account in Binance
On June 6th, the SEC stated in its accusation files against Binance and CZ that CZ individuals received $62.5 million from a bank account in Binance between October 2022 and January 2023.
SEC Sues Binance and CEO CZ for Violating Federal Securities Laws
The CEO of Binance, Changpeng "CZ" Zhao, and the crypto exchange itself are being sued by the U.S. Securities and Exchange Commission (SEC) for allegedly violating federal securities laws. The SEC claims that Binance operated an unlicensed stock exchange and committed other violations.
Binance CEO Comments on China's White Paper on Web 3.0 Innovation and Development Ahead of Crypto Licensing Launch in Hong Kong; Beijing Municipal Science and Technology Commission to Support Web 3.0 Developments and Research
Binance CEO Changpeng "CZ" Zhao has commented on China's release of a white paper on Web 3.0 innovation and development, which comes just ahead of Hong Kong's launch of the crypto licensing regime on June 1.
Binance CEO Suggests US Reluctance to Adopt Comprehensive Crypto Market Policy Due to Desire to Maintain Global Dominance of US Dollar
Binance CEO Changpeng Zhao (CZ) suggested during an "Ask Me Anything" event that the US may be hesitant to adopt a comprehensive crypto market policy due to a desire to maintain global dominance of the US Dollar. However, CZ argued that embracing the web 3.0 space could actually benefit the US rather than hinder it.
Twitter Boss Elon Musk's Interest in Pepe Coin and CZ's Unfollowing Raise Questions: Is a Historic Shift Imminent in the Crypto Industry?
There are speculations that Binance CEO Changepeng Zhao, also known as CZ, was unhappy with Twitter's recent partnership with eToro. CZ and Binance invested around $500 million to help Twitter move to the Web3 industry, but the relationship between CZ and Elon Musk may have turned sour after several developments.
Binance US Founder CZ Reportedly Seeking to Reduce Stake Amid Regulatory Scrutiny
Binance US and its founder Changpeng Zhao are reportedly seeking ways to reduce his stake in the company due to intense scrutiny from US federal regulators over the past year. The Commodity Futures Trading Commission (CFTC) sued Binance and CZ in March for operating an "illegal" exchange with a "sham" compliance program.
“I Don't Have Anywhere Near As Much” — CZ Denies Having Enormous $28.2 Billion Net Worth
Binance’s CEO claims to be worth way less than what Bloomberg estimated. CZ pointed out that Bloomberg’s latest finance-rich list had inaccurate data about his crypto fortune. Per the publication’s list, the Binance boss’s net worth stands at a whopping $28.2 billion, ranking him the third richest finance billionaire in the world. Bloomberg also estimated Binance’s annual revenue at around $12 billion.
