Changpeng Zhao, the CEO of Binance, was subpoenaed in a US court after the Securities and Exchange Commission (SEC) filed a lawsuit against the cryptocurrency exchange The SEC alleges that Binance operated as an unregistered exchange and did not register its tokens as securities Zhao has 21 days to respond to the lawsuit
Zhao has denied the SEC's allegations and said Binance will "vigorously defend" against the lawsuit He has also said that Binance is "committed to working with regulators" and has "always been transparent about our operations"