- Binance.US, the American arm of Binance, clarified their independent operation from their parent company.
- The SEC is reportedly probing evidence of fraudulent activities involving Binance.US.
- Binance’s American unit revealed that Zhao stepped down from his role as chairman of the board of directors.
Binance.US, the American arm of Binance, came to X on Tuesday to clarify their independent operation from their parent company. The message, intended for their community, explains that Binance.US was launched to cater to the United States market and thereafter follows the country’s rules and regulations.
This announcement coincided with the Securities and Exchange Commission’s continued efforts to probe evidence of fraudulent activities involving Binance.US. The Wall Street Journal reported on Monday that Binance’s co-founder and former CEO, Changpeng ‘CZ’ Zhao, may have a backdoor to manage assets stored on its American unit.
Binance.US highlighted that it remains fully operational and is not a party to the legal settlements involving Binance and its co-founder. They added that they do not have any outstanding enforcement matters with the U.S. Depa…
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