A district court in the US has summoned Binance founder and CEO Changpeng Zhao just two days after the U.S. As of today, Bitcoin, the largest cryptocurrency by market cap is trading at around 26,467.31 while BNB is trading at around 1,844.69. Weeks later, a court deal allowed the cryptocurrency exchange to continue to U.S. Binance told customers who used its service to buy, sell, and invest in various cryptocurrencies that this particular stablecoin offered something special: the promise of annual returns of almost 20. Top Altcoins Crash by Over 20 As US Court Summons Binance CEO. The SEC also sued Binance.US operator BAM Trading Services. In a statement at the time, SEC Chair Gary Gensler said that Zhao and Binance “engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law" - adding that “the public should beware of investing any of their hard-earned assets with or on these unlawful platforms.” And in June, the SEC accused Binance and its owner of misusing investor funds, operating as an unregistered exchange and violating a slew of federal securities laws. In March, the Commodity Futures Trading Commission sued the company with charges of numerous exchange violations. and this is an unfortunate example of that."īinance, the world's largest cryptocurrency exchange, and its founder Changpeng Zhao have faced extensive litigation from U.S.
Securities and Exchange Commission earlier this year, arguing that the agency's “aggressive attempts to cripple our industry and the resulting impacts on our business have real-world consequences. “The actions we are taking provide Binance.US with more than seven years of financial runway and enable us to continue to serve our customers while we operate as a crypto-only exchange," the spokesperson said in a statement.īinance.US also pointed to action taken by the U.S.
Shroder's departure coincides with the elimination of about one-third of Binance.US’s workforce, with layoffs impacting more than 100 employees. Shroder joined the Binance.US as president in September 2021 and was named CEO the following month. The cryptocurrency exchange did not specify when or why Shroder departed, but said that chief legal officer Norman Reed is now serving as interim CEO. affiliate has departed the crypto trading platform amid another round of job cuts.īinance.US CEO Brian Shroder is no longer with the company, a spokesperson confirmed to The Associated Press Wednesday.
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