Tag: SEC

Meet the judges that will preside over Coinbase and Binance’s SEC lawsuits

Court filings have revealed the names of the two United States District Court Judges that will preside over the Coinbase and Binance lawsuits brought against them by the U.S. Securities and Exchange Commission. The case of SEC v Coinbase will be heard by District Court Judge Jennifer H. Rearden in the Southern District of New York, filings show. Meanwhile, District Court Judge Amy Berman Jackson will tackle the case of SEC v Binance in the District of Columbia, according to recent filings. SEC v Coinbase: Judge Jennifer H. Rearden Judge…

SEC chair Gensler offered to serve as an advisor to Binance in 2019: Lawyers claim

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SEC Chair Gary Gensler once offered to serve as an advisor to Binance in 2019, according to lawyers representing Binance and founder Changpeng Zhao, CNBC reports.  In documents filed by the SEC on June 7, attorneys from Gibson & Dunn and Latham & Watkins allege that Gensler offered to serve as an advisor to the exchange in several conversations with Binance executives, including Zhao in March 2019. Gensler was nominated by U.S. president Joe Biden to serve as chair of the United States Securities and Exchange Commission in February 2021 and…

Binance Customers Appear Unfazed by SEC Lawsuit As Exchange Sees Only Modest Bitcoin Withdrawals: CryptoQuant

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Binance customers do not seem to be particularly affected by the Securities and Exchange Commission’s (SEC) lawsuit against the world’s largest crypto exchange by trading volume. According to data shared by Ki Young Ju, the CEO says that Binance did suffer outflows of 10,000 Bitcoin (BTC), the largest withdrawal total of 2023. But that outflow looks less statistically significant when looking at a zoomed-out time chart, according to Ki Young Ju. The impact of 10k $BTC outflows on Binance.https://t.co/1TXeqp1lnZ — Ki Young Ju (@ki_young_ju) June 5, 2023 Julio Moreno, head…

Brian Armstrong, CEO of Coinbase, talks about SEC compliance

In an interview with Bloomberg, Coinbase CEO Brian Armstrong candidly outlined the challenges and complexities his company has faced in its compliance with regulations in the U.S. According to industry insiders, in the world of cryptocurrency, it is a task to balance the entrepreneurial spirit with the governing authorities. In a recent interview with Bloomberg, Brian Armstrong, CEO of Coinbase, highlighted his journey navigating this complex terrain while striving to get Coinbase, one of the most popular cryptocurrency exchanges, to comply with the U.S. SEC. Armstrong’s pioneering role in the…

‘Stand With Crypto’ NFT Spreads Amid SEC Crackdown

“We stand united with the crypto community in our efforts to advocate for sensible crypto policy in the U.S.,” a spokesperson for Coinbase told CoinDesk. “The Stand with Crypto commemorative NFT is a symbol of unity for the crypto community – representing our collective stand to protect and promote the potential of crypto in the United States.” Source

Robinhood Joins Coinbase in Saying It Tried to ‘Come In and Register’ Like U.S. SEC Wanted

“When Coinbase has attempted to do just that, to talk about how we could register as a broker-dealer or an [alternative trading system] or even as a [national securities exchange] after months and months of discussion, we’re simply dismissed with no response or any counter proposal or ideas coming back from the SEC,” said Paul Grewal, Coinbase’s chief legal officer. Source BitcoinCoinbasecryptoexchangeExchangesJoinsregisterRobinhoodSECU.SWanted CryptoX Portal

The U.S. SEC Is Fighting the Last Crypto War, Charging Binance (BNB) and Coinbase (COIN)

But the messaging surrounding the suits makes the SEC’s recent moves seem reactive, political and frankly, just beneath the bluster, weak. Specifically, the SEC seems to be trying to put Coinbase and Binance into the same bucket as the frauds of 2022, such as Luna, Celsius and above all FTX. The SEC has been widely viewed as giving FTX deferential treatment before it was revealed as a massive fraud, so now it’s demonstrating that it really can be a hard-nosed regulator – it’s just doing so a couple of years…

US District Court issues summons for Binance CEO Changpeng Zhao over SEC action

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The United States District Court in Washington, D.C. issued a summons for Binance CEO Changpeng Zhao on June 7, just two days after the Securities and Exchange Commission (SEC) formally sued the exchange for alleged unregistered securities operations.  “A lawsuit has been filed against you,” the summons read. NEW: @binance CEO @cz_binance has been order to respond/answer the summons of a U.S. District Court along with the other entities named in the case. He does not have to appear in person but respond within the time frame below https://t.co/UipLm9TRye — Eleanor Terrett…

Evidence in SEC suit includes 2022 testimony of Binance.US’ long silent ex-CEO

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Former Binance.US CEO Catherine Coley, who is transparently known as “BAM CEO A” in the suit against Binance filed by the United States Securities and Exchange Commission (SEC) on June 5, has kept a low profile since her departure. However, she provided testimony to the SEC in 2022 when it was investigating the company for insider trading.  That testimony has resurfaced as an exhibit in the SEC’s new case against the cryptocurrency exchange. Coley’s 2022 testimony was apparently quite long as the selections that constitute Exhibit 86 in the June…

Binance.US halts trading for dozens of USDT, BTC, BUSD pairs amid SEC lawsuit

Binance.US removed trading services for several crypto tokens on June 7. The move follows a lawsuit filed earlier this week by the United States Securities and Exchange Commission against Binance entities and thei leadership.  “After careful consideration, Binance.US will remove selected Advanced Trading pairs on June 8, 2023 at 9 a.m. PDT / 12 p.m. EDT. We have also decided to streamline our Buy, Sell & Convert offering and have paused our OTC Trading Portal,” reads an announcement. The pause affects over 90 trading pairs of the stablecoin Tether (USDT), eight…