SEC Pursues 'Alternative Means' to Serve Legal Documents to Binance CEO
The U.S. Securities and Exchange Commission (SEC) is looking for other ways to serve legal papers to Binance and its CEO, Changgpeng Zhao (CZ), whose location is often hard to track down. Here's the latest....
- The SEC is having difficulty serving legal papers to Binance and its CEO, Changpeng Zhao (CZ), due to their unknown location.
- The SEC seeks alternative means of issuing legal papers, primarily by sending copies of documents to the attorneys representing each party.
- CZ has often boasted that Binance’s refusal to settle headquarters in any particular jurisdiction is what makes it resilient.
- The SEC filed a 136-page lawsuit against Binance earlier this week including a range of accusations related to securities violations and market manipulation.
- One of the SEC’s chief allegations was that each company commingled customer funds from both platforms across Binance and CZ-owned bank accounts at both Silvergate Bank and Signature Bank.
The article has a negative sentiment as it discusses the SEC's difficulty in serving legal papers to Binance and its CEO, as well as the allegations of securities violations and market manipulation.