• About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, September 24, 2023
Earth-News
  • Home
  • Business
  • Entertainment
    Cross pays touching tribute to Mohbad (Update) – Lifestyle Nigeria

    Cross pays touching tribute to Mohbad (Update) – Lifestyle Nigeria

    Imperial Governors On The Rampage — The PUNCH Editorial – Lifestyle Nigeria

    Imperial Governors On The Rampage — The PUNCH Editorial – Lifestyle Nigeria

    Governor Lawal Bans Illegal Mining In Zamfara

    Governor Lawal Bans Illegal Mining In Zamfara

    Popular Nigerian filmmaker Charles Grandsville dies

    Popular Nigerian filmmaker Charles Grandsville dies

    I’m Willing To Become Unpopular To Reform Nigeria – President Tinubu

    I’m Willing To Become Unpopular To Reform Nigeria – President Tinubu

    Squier Paranormal Jazzmaster XII Review

    Squier Paranormal Jazzmaster XII Review

  • General
  • Health
  • News
    Behind the Success: Decoding Mobinil’s Community-Focused Marketing

    Behind the Success: Decoding Mobinil’s Community-Focused Marketing

    Egyptian University Student Develops ‘Egypt Metro’ App for Seamless Navigation

    Egyptian University Student Develops ‘Egypt Metro’ App for Seamless Navigation

    Banque Misr to launch green investment fund in 2024

    Banque Misr to launch green investment fund in 2024

    Egypt, Greece, and Cyprus stress coordination on gas, regional issues

    Egypt, Greece, and Cyprus stress coordination on gas, regional issues

    Nakhla Gift Shop at Grand Egyptian Museum listed as one of world’s best by Financial Times

    Nakhla Gift Shop at Grand Egyptian Museum listed as one of world’s best by Financial Times

    Former Egyptian Finance Minister Youssef Boutros-Ghali joins Concord International Investment Group

    Former Egyptian Finance Minister Youssef Boutros-Ghali joins Concord International Investment Group

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Tech
    Chinese tech firm Zhipu AI reportedly acquires AI startup Ling Xin Intelligence

    Chinese tech firm Zhipu AI reportedly acquires AI startup Ling Xin Intelligence

    Huawei unveils large language model for the automotive industry

    Huawei unveils large language model for the automotive industry

    Tencent Games launches High Energy Heroes, a rebranded Apex Legends

    Tencent Games launches High Energy Heroes, a rebranded Apex Legends

    TikTok launches a new feature to label AI-created content

    TikTok launches a new feature to label AI-created content

    MediaTek’s Dimensity 7200-Ultra debuts in the Redmi Note 13 Pro +

    MediaTek’s Dimensity 7200-Ultra debuts in the Redmi Note 13 Pro +

    In 50 Words: Campus 365 looks to triple revenue to $1m

    In 50 Words: Campus 365 looks to triple revenue to $1m

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Cross pays touching tribute to Mohbad (Update) – Lifestyle Nigeria

    Cross pays touching tribute to Mohbad (Update) – Lifestyle Nigeria

    Imperial Governors On The Rampage — The PUNCH Editorial – Lifestyle Nigeria

    Imperial Governors On The Rampage — The PUNCH Editorial – Lifestyle Nigeria

    Governor Lawal Bans Illegal Mining In Zamfara

    Governor Lawal Bans Illegal Mining In Zamfara

    Popular Nigerian filmmaker Charles Grandsville dies

    Popular Nigerian filmmaker Charles Grandsville dies

    I’m Willing To Become Unpopular To Reform Nigeria – President Tinubu

    I’m Willing To Become Unpopular To Reform Nigeria – President Tinubu

    Squier Paranormal Jazzmaster XII Review

    Squier Paranormal Jazzmaster XII Review

  • General
  • Health
  • News
    Behind the Success: Decoding Mobinil’s Community-Focused Marketing

    Behind the Success: Decoding Mobinil’s Community-Focused Marketing

    Egyptian University Student Develops ‘Egypt Metro’ App for Seamless Navigation

    Egyptian University Student Develops ‘Egypt Metro’ App for Seamless Navigation

    Banque Misr to launch green investment fund in 2024

    Banque Misr to launch green investment fund in 2024

    Egypt, Greece, and Cyprus stress coordination on gas, regional issues

    Egypt, Greece, and Cyprus stress coordination on gas, regional issues

    Nakhla Gift Shop at Grand Egyptian Museum listed as one of world’s best by Financial Times

    Nakhla Gift Shop at Grand Egyptian Museum listed as one of world’s best by Financial Times

    Former Egyptian Finance Minister Youssef Boutros-Ghali joins Concord International Investment Group

    Former Egyptian Finance Minister Youssef Boutros-Ghali joins Concord International Investment Group

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Tech
    Chinese tech firm Zhipu AI reportedly acquires AI startup Ling Xin Intelligence

    Chinese tech firm Zhipu AI reportedly acquires AI startup Ling Xin Intelligence

    Huawei unveils large language model for the automotive industry

    Huawei unveils large language model for the automotive industry

    Tencent Games launches High Energy Heroes, a rebranded Apex Legends

    Tencent Games launches High Energy Heroes, a rebranded Apex Legends

    TikTok launches a new feature to label AI-created content

    TikTok launches a new feature to label AI-created content

    MediaTek’s Dimensity 7200-Ultra debuts in the Redmi Note 13 Pro +

    MediaTek’s Dimensity 7200-Ultra debuts in the Redmi Note 13 Pro +

    In 50 Words: Campus 365 looks to triple revenue to $1m

    In 50 Words: Campus 365 looks to triple revenue to $1m

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home General

Binance.US Faces Accusations of Discovery Failures

September 19, 2023
in General
Binance.US Faces Accusations of Discovery Failures
Share on FacebookShare on Twitter

In a Court Filing, the U.S. Securities and Exchange Commission (SEC) pointed to Binance’s document production, regulatory violations, concerns about asset control, inconsistent statements, uncooperative responses, and limited cooperation in providing witness testimonies.

The securities regulator alleged that Binance.US’s holding company, BAM, failed to provide sufficient documents upon the agency’s discovery requests related to customer assets.

According to the document, BAM submitted only 220 documents during the discovery process. However, these documents included “unintelligible screenshots” and items lacking “dates or signatures.”

Table of Contents

  • More Problems for Binance
  • Leadership Shakeup

More Problems for Binance

The SEC also accused Binance.US of uncooperative responses to the SEC’s demands for relevant communications and refusing to produce documents it claimed did not exist, even though the SEC obtained these documents from other sources.

The SEC added that BAM’s document production failed to meet the timing despite the regulator’s efforts to extend the timeline.

Concerns about customer assets are also major highlights in the court filing. Regarding this matter, the regulator questioned customer assets coming under the control of Ceffu, a wallet custody software service owned by Binance Holdings Ltd.

The assets were originally supposed to be solely in BAM’s custody and control in the United States. However, the SEC argued that Ceffu appeared to have control of customer assets through its role in establishing wallets and keys related to BAM Customer Crypto Assets and hosting the wallet custody software on Amazon Web Services.

Furthermore, BAM was accused of providing inconsistent statements regarding Ceffu’s involvement in asset custody. Initially, BAM claimed that Ceffu’s activities were “unrelated to the current custody and control of Customer Assets,” but later acknowledged that Ceffu played a role in creating new crypto asset cold wallets and keys.

Lastly, BAM consented to only four testimonies from witnesses it considered suitable, according to the SEC’s filing. This limited cooperation raised further concerns about transparency and compliance.

On June 5, the SEC filed a lawsuit against Binance and its CEO Changpeng Zhao, claiming that the exchange violated U.S. securities laws. Additionally, the agency leveled 13 charges against the platform, including its failure to restrict U.S. investors from accessing Binance.com, and its operation as an unregistered exchange.

Leadership Shakeup

Under the increased regulatory pressure in the US, Binance has denied the SEC’s allegations and has vowed to fight the charges in court. However, the legal battle has challenged the company’s operations. In recent months, several key personnel have departed from Binance, including the company’s CFO, COO, and chief risk officer.

As reported by Wall Street Journal, Krishna Juvvadi, Chief Legal Officer and Sidney Majalya, Chief Risk Officer of BinanceUS, announced their departure from the company. The news came one day after CEO Brian Shroder resigned. BinanceUS’ spokesperson said that the business was being affected by the SEC.

Not only has BinanceUS seen changes in leadership and staff, other branches have also experienced the same. The list of executive departures include Gleb Kostarev, head of Binance for Eastern Europe and Russia, Vladimir Smerkis, general manager of Binance for Russia and CIS, Mayur Kamat, global head of product and design at Binance, and Leon Foong, Head of Asia-Pacific (APAC) at Binance .

Some observers believe that the executive departures are a sign that Binance is struggling to cope with the SEC’s investigation. Others believe that the departures are simply part of a normal turnover cycle at a rapidly growing company. Binance is hiring as well, which adds to this view.

The exchange has conducted significant staff cuts, terminating around 100 employee contracts, approximately one-third of its workforce. In July, there were reports of a global reduction in staff size, impacting up to 1,000 employees, or about one-third of the workforce, though some sources suggested the number could be higher.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Blockonomi – https://blockonomi.com/binance-us-faces-accusations-of-discovery-failures/

Previous Post

Coinbase Confirms Lightning Network Integration

Next Post

Anthony Pompliano Says Bitcoin Bull Run Is Coming

Sen. Bob Menendez “Not Going Anywhere” Despite Growing Calls from Top Democrats to Resign

Sen. Bob Menendez “Not Going Anywhere” Despite Growing Calls from Top Democrats to Resign

September 23, 2023
Russell Brand Would Allegedly Scout TV Show Audience For Women: Report

Russell Brand Would Allegedly Scout TV Show Audience For Women: Report

September 23, 2023
Megan Markle’s ‘Archetypes’ Podcast Might Be Gone For Good

Megan Markle’s ‘Archetypes’ Podcast Might Be Gone For Good

September 23, 2023
Biden To Join UAW Strike in Michigan as Trump Demands Union Endorsement

Biden To Join UAW Strike in Michigan as Trump Demands Union Endorsement

September 23, 2023
Jessica Chastain Is Team Sophie Turner In Joe Jonas Divorce Drama

Jessica Chastain Is Team Sophie Turner In Joe Jonas Divorce Drama

September 23, 2023
Senators Demand White House Fly Pro-Life Flag to Honor Respect Life Month

Senators Demand White House Fly Pro-Life Flag to Honor Respect Life Month

September 23, 2023
Summers: Deal on Battery Plants Between UAW, Big 3 Will Be Harder to Reach than an Agreement on Wage Increase

Summers: Deal on Battery Plants Between UAW, Big 3 Will Be Harder to Reach than an Agreement on Wage Increase

September 23, 2023
MSNBC’s Witt: Joe Going to Hunter’s Meeting Just Demonstrated Connections People Already Knew Hunter Had

MSNBC’s Witt: Joe Going to Hunter’s Meeting Just Demonstrated Connections People Already Knew Hunter Had

September 23, 2023
Chinese tech firm Zhipu AI reportedly acquires AI startup Ling Xin Intelligence

Chinese tech firm Zhipu AI reportedly acquires AI startup Ling Xin Intelligence

September 23, 2023
Huawei unveils large language model for the automotive industry

Huawei unveils large language model for the automotive industry

September 23, 2023
Partenaires
afric.info
europ.info
usa-news
lesmeilleureschaussures.fr
goodsforyoutoday.com
looktopbeauty.com
keto-diet.biz
soccernews.info
nba-news.net
sportsprblog.com compar.biz
the-best.top
bestchoices.biz
expert-plus.fr
travel-mag.info
pksportsnews.com
news-sports.org

Categories

Archives

September 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (3,377)
  • Entertainment (3,425)
  • General (2,463)
  • Health (1,637)
  • News (3,874)
  • Science (2,657)
  • Sports (3,583)
  • Tech (2,625)

Recent News

Sen. Bob Menendez “Not Going Anywhere” Despite Growing Calls from Top Democrats to Resign

Sen. Bob Menendez “Not Going Anywhere” Despite Growing Calls from Top Democrats to Resign

September 23, 2023
Russell Brand Would Allegedly Scout TV Show Audience For Women: Report

Russell Brand Would Allegedly Scout TV Show Audience For Women: Report

September 23, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version

Binance.US Faces Accusations of Discovery Failures- https://news7.asia/   https://www.animaleries.info   https://www.comptoirdubagage.biz/   https://www.wa-news.com/   https://www.magasinjouet.net/   https://teenoi.net   https://paschers.info   https://www.1nfo.net   -/- J’ai encore menti !   Bensimon femme Sport Bag Sac bandouliere Orange (Coquelicot)   Asus ExpertCenter PB63: 1.35 liter mini PC debuts with support for 65 W Intel processors   Wimbledon 2023: British number one Cameron Norrie beats Tomas Machac to reach round two   Douyin Boosts Self-Operated E-Commerce with Launch of ‘Imported Supermarket’   -*-$$Antoine Dupont blessé : le capitaine du XV de France a été opéré et va pouvoir rejoindre les Bleus   Lampe de Scène, Lumière Fête 9W 9 couleurs Éclairage Soirée Boule Disco Avec Bluetooth Président sans fil de connexion…   Honte à l’“anti-rugby” de l’Angleterre, et vive les flamboyants “petits poucets”   Stormsure Stormproof Durable Hydrofuge (spray étanche) – 1L   Meilleurs choix d’appareils photo : Olympus OM-D E-M10 Mark II   $$* James Betterave Blanche It Betterave Organique 1L De Jus   Secret des Chefs Arome Naturel Grenadine 50 ml – Lot de 2   Binance.US Faces Accusations of Discovery Failures *Binance.US Faces Accusations of Discovery Failures