12/3/2023 0 Comments Binance usa congressPreviously a regular social media user, Coley has not posted anything on her Twitter account since her exit. The following April, Binance.US announced it would replace Coley as CEO. Elizabeth Warren is asking US Department of Justice Attorney General Merrick Garland to investigate whether Binance lied to Congress. In a subpoena addressed to Coley that same month, the SEC also requested all records of her activities and meetings. The Justice Department asked Binance to hand over communications that involved Coley and twelve other Binance executives and advisors in a December 2020 document request, including in relation to the creation of Binance.US and the exchange's recruitment of U.S. partner Binance.US for information about their regulatory compliance and finances. user base and was focused on retaining the liquidity and revenue American customers supplied, the complaint said. The SEC sued Binance, its CEO and founder Changpeng Zhao, and Binance.USs operation on Monday, alleging in 13 charges that Binance had engaged in a 'web of deception,' artificially inflated. Senators have asked giant cryptocurrency exchange Binance and its U.S. The CFTC's complaint said that Binance personnel, including Zhao, have "dictated Binance.US's corporate strategy, launch, and early operations." Without naming Coley, the CFTC said that when Zhao hired the first chief executive of Binance.US's operating company, BAM Trading, he described the global exchange as a "pirate ship" and explained "he wished for Binance.US to be a navy boat."Įven after Binance.US launched, Zhao continued to grow and conceal the global exchange's U.S. Juvvadi asked to discuss with Reuters the results of an internal Binance.US investigation into the article's findings, but did not follow up on the offer. The finance team transferred hundreds of millions of dollars out of the account to a trading firm managed by Zhao, leading Coley to express concern to Binance staff about the outflows, the records and messages showed.Īsked for comment for this article, Binance.US's head of legal Krishna Juvvadi criticized the February piece as containing untrue assertions, including that a Binance finance executive had access to Binance.US's bank accounts. The exchanges, targeted by the SEC for violating federal securities laws, have suffered a significant wave of user. Although Binance.US publicly said it operated independently as a partner, Zhao in reality managed the American firm as a de-facto subsidiary and his finance team had access to its bank account, according to banking records and company messages Reuters reviewed for an article in February. SEC Clampdown Spurs 4B Deposit Flight From Binance, Coinbase and Binance.US.
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