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- Binance.US accuses SEC of manipulating the lawsuit with misleading statements
- Binance.US and its legal team strongly deny SEC’s allegations
- If approved by the judge, Binance.US’s application could prevent the release of SEC’s “misleading” statements
Binance.US Accuses SEC of Manipulating Lawsuit with Misleading Statements
The legal battle between Binance.US and the Securities and Exchange Commission (SEC) continues to unfold, with Binance.US now accusing the SEC of manipulating the lawsuit with misleading statements. Binance CEO Changpeng Zhao (CZ) took to Twitter to share an article that supports this claim.
Binance.US and its Legal Team Strongly Deny SEC’s Allegations
In response to the SEC’s claims, Binance.US and its legal team have vehemently denied the allegations, stating that the commission has conducted the process with misleading statements. They argue that the SEC’s press release seems designed to create unnecessary confusion in the market, rather than protecting BAM customers. Furthermore, they believe that the SEC’s misleading statements could tarnish the jury pool.
Possible Prevention of the Release of SEC’s “Misleading” Statements
If Binance.US’s application to the court is approved, it could potentially prevent the release of the SEC’s statements that have been deemed “misleading.” This would prevent the public from being exposed to these statements.
The SEC filed a lawsuit against Binance, accusing the cryptocurrency exchange of engaging in illegal activities, including unregistered securities offerings. However, Binance.US has refuted these claims and denied any interference with user funds. In their application to the court, they stated that there is no evidence to support the SEC’s allegations of commingling user funds.
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In their analysis of bank statements, the SEC alleged that $12 billion was sent to a company owned by Binance CEO Changpeng Zhao and $162 million was sent to a company controlled by Guangying Chen in Singapore.
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