CZ: 4
CZ confirmed that Binance has not yet received a compliance request from the SEC or the court. Bloomberg got the news faster than the "victim" Binance 😂
In the complaint, the SEC alleges:
BNB, BUSD, SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS & COTI are securities. And Binance + Binance US violated regulations by offering securities without registering with the SEC
Yield offerings such as BNB Vault, Simple Earn & Staking also violate SEC laws
BAM Trading (Binance's US subsidiary) also violated securities laws when providing staking services
CZ violated securities regulations as head of Binance, BAM Trading and Binance US
In March, Binance was also sued by the US Commodity Commission (CFTC) and specifically accused CZ of violating asset trading regulations. Binance is currently being investigated by the US Department of Justice for allegedly violating anti-money laundering regulations
Just this morning, there was news that CZ was about to cede the CEO position to Richard Teng - who is said to have a "clean" legal record to prepare for the legal wave hitting Binance. Before we could act, the SEC took action...