Read on Twitter
OK. Had some time to read the #SEC charges against #Binance.
First, I believe they are trying to get ahead of any issues rather than waiting for the issues to cause a blow up like FTX / Celsius. SEC has learnt from mistakes. I’m not staying Binance will blow up as they probably… twitter.com/i/web/status/1…
First, I believe they are trying to get ahead of any issues rather than waiting for the issues to cause a blow up like FTX / Celsius. SEC has learnt from mistakes. I’m not staying Binance will blow up as they probably… twitter.com/i/web/status/1…
ALLEGATION:
Binance publicly claimed that U.S. customers were restricted from transacting on Binance dot com, Zhao & Binance in reality subverted their own controls to secretly allow high-value U.S. customers to continue trading on the Binance dot com platform.
MESSAGE:
The… twitter.com/i/web/status/1…
Binance publicly claimed that U.S. customers were restricted from transacting on Binance dot com, Zhao & Binance in reality subverted their own controls to secretly allow high-value U.S. customers to continue trading on the Binance dot com platform.
MESSAGE:
The… twitter.com/i/web/status/1…
ALLEGATION:
The SEC alleges that, while Zhao and Binance publicly claimed that #Binance US was created as a separate, independent trading platform for U.S. investors, Zhao and Binance secretly controlled the Binance US platform’s operations behind the scenes.
MESSAGE:
The… twitter.com/i/web/status/1…
The SEC alleges that, while Zhao and Binance publicly claimed that #Binance US was created as a separate, independent trading platform for U.S. investors, Zhao and Binance secretly controlled the Binance US platform’s operations behind the scenes.
MESSAGE:
The… twitter.com/i/web/status/1…
ALLEGATION:
SEC also alleges that Zhao and #Binance exercise control of the platforms’ customers’ assets, permitting them to commingle customer assets or divert customer assets as they please, including to an entity Zhao owned and controlled called Sigma Chain.
MESSAGE:… twitter.com/i/web/status/1…
SEC also alleges that Zhao and #Binance exercise control of the platforms’ customers’ assets, permitting them to commingle customer assets or divert customer assets as they please, including to an entity Zhao owned and controlled called Sigma Chain.
MESSAGE:… twitter.com/i/web/status/1…
ALLEGATION:
The SEC’s complaint further alleges that BAM Trading and BAM Management US Holdings, Inc. (“BAM Management”) misled investors about non-existent trading controls over the #Binance US platform, while Sigma Chain engaged in manipulative trading that artificially… twitter.com/i/web/status/1…
The SEC’s complaint further alleges that BAM Trading and BAM Management US Holdings, Inc. (“BAM Management”) misled investors about non-existent trading controls over the #Binance US platform, while Sigma Chain engaged in manipulative trading that artificially… twitter.com/i/web/status/1…
ALLEGATION:
The SEC alleges that the defendants concealed the fact that it was commingling billions of dollars of investor assets and sending them to a third party, Merit Peak Limited, that is also owned by Zhao.
MESSAGE:
Don’t co-mingle operational & client funds. Don’t… twitter.com/i/web/status/1…
The SEC alleges that the defendants concealed the fact that it was commingling billions of dollars of investor assets and sending them to a third party, Merit Peak Limited, that is also owned by Zhao.
MESSAGE:
Don’t co-mingle operational & client funds. Don’t… twitter.com/i/web/status/1…
ALLEGATION:
#Binance and BAM Trading with operating unregistered national securities exchanges, broker-dealers, and clearing agencies;
MESSAGE:
This is the old debate. If the token is considered a security then it can only be traded on an SEC registered ATS with a broker… twitter.com/i/web/status/1…
#Binance and BAM Trading with operating unregistered national securities exchanges, broker-dealers, and clearing agencies;
MESSAGE:
This is the old debate. If the token is considered a security then it can only be traded on an SEC registered ATS with a broker… twitter.com/i/web/status/1…
ALLEGATION:
Binance and BAM Trading with the unregistered offer and sale of Binance’s own crypto assets, including a so-called exchange token, BNB, a so-called stablecoin, Binance USD (BUSD), certain crypto-lending products, and a staking-as-a-service program;
MESSAGE:
No… twitter.com/i/web/status/1…
Binance and BAM Trading with the unregistered offer and sale of Binance’s own crypto assets, including a so-called exchange token, BNB, a so-called stablecoin, Binance USD (BUSD), certain crypto-lending products, and a staking-as-a-service program;
MESSAGE:
No… twitter.com/i/web/status/1…
ALLEGATION:
Zhao as a control person for Binance’s and BAM Trading’s operation of unregistered national securities exchanges, broker-dealers, and clearing agencies.
The SEC’s complaint alleges that (1) with respect to Binance dot com, Binance should have registered as an… twitter.com/i/web/status/1…
Zhao as a control person for Binance’s and BAM Trading’s operation of unregistered national securities exchanges, broker-dealers, and clearing agencies.
The SEC’s complaint alleges that (1) with respect to Binance dot com, Binance should have registered as an… twitter.com/i/web/status/1…
My forecast.
1. Multi billion dollar SEC settlement for #Binance that will operate outside uS pivoting to a public auditable company significantly smaller, but compliant. CZ hands over like Arthur Hayes & moves on.
2. Clarity for the industry in the US moving forward,… twitter.com/i/web/status/1…
1. Multi billion dollar SEC settlement for #Binance that will operate outside uS pivoting to a public auditable company significantly smaller, but compliant. CZ hands over like Arthur Hayes & moves on.
2. Clarity for the industry in the US moving forward,… twitter.com/i/web/status/1…
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