Binance.US Legal Filings Contradict CEO Changpeng Zhao's Public Statements On Custody Software Use


19 Sep 2023 3:09 PM

Changpeng "CZ" Zhao, the CEO of Binance, has publicly spoken out against allegations made by the U.S. Securities and Exchange Commission (SEC). The...

  • Changpeng "CZ" Zhao, CEO of Binance, denies allegations made by the SEC that Binance.US used custody software linked to its parent company.
  • Binance.US is being investigated to ensure that assets from the US exchange are not moved abroad.
  • CZ stated that Binance.US does not use or have ever used the custody software in question.
  • This contradicts earlier claims made by attorneys for Binance.US, who stated that the software was utilized.
  • The SEC wants more information about the software and has pointed out contradictory remarks made by Binance.US.
  • A hearing is scheduled for October 12, and both parties have agreed to collaborate and submit a joint status report by October 10.

The sentiment of the article is neutral. It presents conflicting statements from Binance.US and the SEC, without taking a clear stance on the issue.

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You May Ask

What are the allegations made by the SEC against Binance.US?How did Changpeng Zhao respond to these allegations?What is the name of the custody software in question and who developed it?What contradictory remarks were pointed out by the SEC regarding the software?When is the scheduled hearing and what is expected to happen during it?

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