CZ post on X about Ceffu and Binance.US contradicts SEC claims, adds to confusion


19 Sep 2023 5:52 PM

Binance CEO Changpeng Zhao posted a statement on X (formerly Twitter) on the relations between the Ceffu and Binance.US companies....

  • Binance CEO Changpeng Zhao (CZ) responded to the SEC's concerns about the role of Ceffu in the Binance.US ecosystem.
  • CZ stated that Binance US does not use Ceffu or Binance Custody.
  • The SEC has raised concerns about Ceffu's connection to Binance.US, as Binance.US has agreed to the SEC's consent order.
  • Ceffu has disputed the SEC's claim and stated that it provides services in select jurisdictions, excluding the United States.
  • A Binance.US document marked "Confidential" mentioned that Ceffu was rebranded from Binance Custody.
  • The SEC referred to Ceffu as a "mysterious Binance-related entity" and criticized Binance.US for inconsistent descriptions of its relationship with Ceffu.

The sentiment of the article is neutral, as it presents the statements and actions of different parties without expressing a clear positive or negative stance.

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You May Ask

What is the SEC's concern about Ceffu's role in the Binance.US ecosystem?How did Binance CEO Changpeng Zhao respond to the SEC's concerns?What did Ceffu state regarding its connection to Binance.US?What information was mentioned in the Binance.US document submitted to the court?How did the SEC describe Ceffu and criticize Binance.US in its court filing?

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