Previously sealed or redacted at the SEC’s behest, these files will soon be in the public domain.īinance.US is in turbulent waters, with challenges coming from both regulatory authorities and its own internal turmoil. An order was passed, giving the SEC the go-ahead to unveil documents linked to the case. On September 15th, a judge made a move that’s likely given Binance.US’s lawyers sleepless nights. That’s like trying to solve a jigsaw puzzle with most of the pieces missing. They claim Binance.US handed over a meager 220 documents during the discovery process. In a bold move, the SEC recently threw shade at the exchange, accusing it of being uncooperative in the ongoing investigation. The SEC Tightens Its Gripīinance.US’s miseries are piling up. His departure, then, seems more suspicious than sabbatical. After all, under Shorder, Binance.US had its heyday-raising capital, enhancing offerings, and grabbing a sizable chunk of the market share. CZ tried to douse the flames of speculation, hinting at a ‘deserved break’ for Shorder.īut the world of crypto isn’t buying the “all is well” story. Whispers surround Binance, its head honcho Changpeng “CZ” Zhao, and of course, Binance.US. Rumors are afoot about an investigation by the U.S. Soon after Shorder packed his bags, the head of legal, Krishna Juvvadi, and the chief risk officer, Sidney Majalya, were right on his tail, announcing their own departures. He’s merely the first in a line of executives who seem to be jumping ship. Brian Shorder, who once sat confidently at the helm as the CEO of the company, exited stage left. An Exodus of ExecutivesĪdding salt to the wound, Binance.US’s internal structure isn’t faring any better. Imagine an airport stripping down its runways while still hoping to see planes take off and land as usual. Binance.US slammed the door shut on trading for a whopping 100 token pairs, triggering a severe cutback in their exchange activities. Since then, it’s been a downhill journey. It went above and beyond by allegedly not registering as a broker-dealer and ignoring the formalities of registering its staking-as-a-service program. They slapped Binance.US with charges that include, but aren’t limited to, unregistered securities offerings and wash trading.

sibling of global crypto heavyweight Binance? Last June, the SEC didn’t pull any punches, laying a heavy lawsuit against both exchanges. On September 16th, a mere $5.09 million was traded on the platform-a far cry from the staggering $230 million exchanged on the same day just a year earlier. This once-thriving hub of crypto activity has nosedived to depths that would give any investor palpitations.ĭiving into the figures, the September stats for Binance.US look bleak.

Following the lawsuit, Binance.US halted trading for over 100 token pairs.īinance.US is plummeting, and it’s hard not to notice.The SEC has filed a lawsuit against Binance and Binance.US for various charges, including unregistered securities offerings.Binance.US’s trading volume has dramatically decreased, dropping to $5.09 million in September from $230 million the same month last year.

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