Binance faces SEC lawsuit over alleged U.S. securities violations.
TL;DR Summary
The US Securities and Exchange Commission (SEC) has filed a lawsuit against Binance, the world's largest cryptocurrency exchange, accusing the company and its CEO of operating an illegal cryptocurrency exchange using billions of dollars in Binance customer funds. The SEC alleges that Binance operated a shell company to skirt federal regulators and diverted customer funds to outside entities. Binance has responded, saying the allegations are "simply wrong" and that it plans to "vigorously defend" itself. The news has caused the price of Bitcoin to drop below $26,000 for the first time since March.
- Cryptocurrency exchange Binance hits back at SEC lawsuit, saying allegations ‘simply wrong’ – as it happened The Guardian
- SEC sues Binance and CEO Changpeng Zhao over U.S. rule violations CNBC Television
- S.E.C. Accuses Binance of Mishandling Funds and Lying to Regulators The New York Times
- Stock Market Today: Stocks turn lower in final hour of trade, Dow off 150 points MarketWatch
- SEC sues Binance and CEO Changpeng Zhao for U.S. securities violations CNBC
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