Binance's Legal Battle with SEC Intensifies.
TL;DR Summary
Lawyers for the US Securities and Exchange Commission (SEC) struggled to justify their request for a near-total financial freeze order against Binance.US, as they had no clear evidence that US customer funds were being moved offshore. The SEC's request for an emergency injunction to freeze the assets of Binance.US and repatriate assets held abroad by related entities was part of its attempt to paint Binance as a fraudulent parallel to FTX. Judge Amy Berman Jackson rejected the SEC's request for an emergency asset freeze, an early defeat in a potentially lengthy trial.
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