Binance court case update as of November 29
After Changpeng Zhao, the (now former) CEO of cryptocurrency trading platform Binance, pleaded guilty as part of the over $4 billion settlement with the United States regulators to keep the business running, the US Securities and Exchange Commission (SEC) has continued to probe Binance.US. Indeed, the SEC is still looking for evidence that the company and its founder may have a backdoor – similar to that of the crashed crypto exchange FTX – to control assets stored on the Binance.US platform, according to a report on November 27. Specifically, at a Monday status conference, Binance.US argued that the SEC could not prove any misuse of the users’ assets and was overstepping while the regulators invoked the major questions doctrine requiring clear congressional authorization for regulatory actions. A joint status update is pending until mid-December. Binance’s court troubles As a reminder, Binance Holdings Limited, the entity operating the world’s largest crypto exchange, pleaded gu