Binance Financial News

The median trading volume across the top three decentralized exchanges (DEX) jumped 444% in the past 48 hours as crypto investors reeled from the United States securities regulator's recent legal actions against cryptocurrency exchanges Coinbase and Binance.

The net worths of Coinbase CEO Brian Armstrong and Binance CEO Changpeng Zhao (CZ) have suffered heavy blows due to recent lawsuits by the United States securities regulator.

The $2.2 billion of U.S. customer assets held by Binance is at «significant risk» of being stolen by founder Changpeng Zhao unless a freezing order is in put place, federal regulators said in a filing Tuesday night, after the crypto regulator was charged by the Securities and Exchange Commission.

Crypto exchange Binance.US responded to the new motion from the United States securities regulator seeking to freeze the assets of the U.S. crypto exchange "on an expedited basis."

Coinbase, one of the leading cryptocurrency exchanges globally, faces a lawsuit from US regulators, hot on the heels of similar legal action against Binance, another industry heavyweight.

The United States Securities and Exchange Commission (SEC) filed an emergency motion in the District of Columbia U.S. District Court for a temporary restraining order against Binance, Binance.US and CEO Changpeng Zhao (CZ) on June 6, requesting eight actions. 

Cryptocurrency markets just experienced a big intraday drop in response to the US Securities and Exchange Commission (SEC) revealing that it has sued Binance, its US subsidiary Binance.US and the exchange’s founder Changpeng Zhao (CZ).

In the wake of recent legal action by the US Securities and Exchange Commission (SEC) against Binance, the world's largest cryptocurrency exchange, and its founder, Bitcoin has witnessed a significant plunge. 

The Securities and Exchange Commission has filed charges against crypto exchange Coinbase, less than 24 hours after suing Binance and its founder Changpeng Zhao.

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The Binance Coin price has dived by 8% in the past 24 hours, dropping to $276 following the SEC's opening of legal proceedings against Binance.

The U.S. Securities and Exchange Commission announced today that it has filed charges against Binance, the world’s largest cryptocurrency exchange, for violating federal securities laws.

Binance Holdings Ltd. and its Chief Executive Officer Changpeng Zhao of breaking US securities rules, a major escalation in the legal woes facing the crypto exchange. In a case filed in US federal court on Monday, the US Securities and Exchange Commission alleged that the firm flouted investor protection rules by operating unregistered exchanges, misrepresenting trading controls and selling unregistered securities, among other violations. “Through thirteen charges, we allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law,” SEC Chair Gary Gensler said in a statement. “The public should beware of investing any of their hard-earned assets with or on these unlawful platforms.” A representative for Binance didn’t immediately respond to a request for comment. On Twitter, Zhao said his team would review the complaint. The case follows a lawsuit from the US derivatives watchdog in March that alleges Binance and Zhao routinely broke its rules. At the time, the exchange and Zhao defended their compliance efforts and called the lawsuit by the Commodity Futures Trading Commission disappointing, while also pledging to keep working with regulators.

The SEC lawsuit against Binance on June 5, accusing the crypto exchange of violating various securities laws, had a direct impact on the crypto market as well as the balance sheet of the crypto exchange.

The announcement of the United States Securities and Exchange Commission (SEC) suit against Binance, Binance.US and Binance CEO Changpeng Zhao (CZ) may have surprised the crypto community, but the SEC’s focus on the exchange was well known. The suit’s contents were met with a variety of reactions.

The world's leading cryptocurrency has recently faced a significant challenge as the Securities and Exchange Commission (SEC) filed a lawsuit against Binance, a major cryptocurrency exchange. 

Welcome to the Fintech Files, your weekly cheat sheet on the tumultuous worlds of crypto and fintech. This week digital editor Penny Sukhraj takes you through some of the main developments.

Conversations with crypto firms have been constructive, but they also need to be compliant with securities laws, said US Securities and Exchange Commission Chair Gary Gensler.

Binance is facing accusations from the U.S. Securities and Exchange Commission (SEC) that it knowingly operated unregistered exchanges.

According to the SEC’s complaint, since at least 2019, Coinbase "has made billions of dollars unlawfully" through the buying and selling of crypto asset securities. The SEC alleges that Coinbase intertwines the traditional services of an exchange, broker, and clearing agency without having registered any of those functions with the Commission as required by law. As alleged in the SEC’s complaint, Coinbase’s failure to register has deprived investors of significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others. The regulator also slammed Coinbase for failing to register its staking-as-a-service program as required by the securities laws. "You simply can’t ignore the rules because you don’t like them or because you’d prefer different ones: the consequences for the investing public are far too great,” says Gurbir S. Grewal, director of the SEC’s Division of Enforcement. "As alleged in our complaint, Coinbase was fully aware of the applicability of the federal securities laws to its business activities, but deliberately refused to follow them. While Coinbase’s calculated decisions may have allowed it to earn billions, it’s done so at the expense of investors by depriving them of the protections to which they are entitled. Today’s action seeks to hold Coinbase accountable for its choices.”

Cryptocurrency exchange Binance and its U.S. affiliate were hit with more than $790 million in withdrawals in the 24 hours after the Securities and Exchange Commission (SEC) filed a lawsuit against them.