Changpeng Zhao denies Binance.US ever used Ceffu to custody funds, contradicting court filings

• Binance CEO Changpeng Zhao (CZ) denies that Binance.US used Ceffu or Binance Custody for custodial services.
• The SEC is investigating Binance.US's use of Ceffu to potentially transfer U.S. customer funds abroad.
• Binance.US previously acknowledged the use of custody software provided by Binance Holdings Ltd, which later rebranded as Binance Custody.
• The contradiction raises concerns about the veracity of previous statements and prompts calls for clarification.
• The controversy adds challenges to Binance's efforts in addressing allegations of unregistered exchange operations and listing unregistered securities in the U.S.
• Binance.US claims that Binance is only a third-party vendor, but the SEC argues that the same individual owns both Binance and BAM.
• The SEC has requested discovery information regarding Binance.US's crypto wallet custody, relationship with Ceffu, and control over customer assets.

The article highlights contradictions and concerns surrounding Binance.US's use of Ceffu and Binance Custody for custodial services. The controversy adds challenges to Binance's regulatory compliance efforts. The sentiment is mostly negative.