CZ of Binance is sweating

CZ of binance.png

The Securities and Exchange Commission on Monday accused Binance, the world’s largest cryptocurrency exchange, of mishandling customer funds and lying to American regulators and investors about its operations, in a sweeping case that has the potential to remake the landscape of power and wealth within crypto.

In the 136-page complaint, the S.E.C. said Binance had mixed billions of dollars in customer funds and secretly sent them to a separate company called Merit Peak Limited, which is controlled by Binance’s founder, Changpeng Zhao.

According to the complaint against Binance, the bank account of Merit Peak, the trading firm controlled by Mr. Zhao, has received more than $20 billion, including customer funds.

Binance.US was supposed to be separate from its offshore parent but “behind the scenes,” Mr. Zhao and other senior Binance leaders were “intimately involved,” the complaint said. That led one executive to remark that “the entire team feels like they’ve been duped into being a puppet,” according to the complaint.

New York Times, June 05 2023


The news brought down the Bitcoin market today:

image.png


Will screenshot some CZ-Tweets for archive purposes. In the heat of the moment, some might be deleted in the future.

image.png


"Strong together", archive.is

image.png


Will retweeting Justin Sun (TRON, STEEM) and Charles Hoskinson (Cardano) help?

Unbenannt 2.JPG

"Media gets the info before we do.", archive.is

SEC paper labels BNB, BUSD, SOL and ADA as securities.

CZ questions purpose of SEC-Chairman actions

image.png

CZ retweets account of DeFi-Procet Thorchain.

Indeed


Deutsch

Die SEC verklagt Binance, weil die Börse illegal Geld von Binance auf eine andere Firma (Merit Peak Limited) verschoben hat. Laut Anklage sollen dort 20 Millarden Dollar gelandet sein. Binance firmiert für US-Kunden unter binance.us, die Kundengelder müssen getrennt von binance.com laufen. Dies scheint die Firma aktiv umgangen zu haben. Derweil kämpft CZ auf Twitter um seine Reputation (siehe Tweets oben).

H2
H3
H4
3 columns
2 columns
1 column
Join the conversation now
Logo
Center