NFT News Official TheBitTimes.com

US SEC Asks Court to Serve Paper Through Lawyers The US SEC seeks permission of the District Court for the District of Columbia to use “alternative means” to serve legal papers to Binance . The agency filed lawsuits against Binance and its CEO “CZ” but failed to deliver the legal papers as the crypto executive “famously protective of revealing his whereabouts.” advertisement The SEC sued world’s largest crypto exchange and “CZ” for violating securities laws, fraud, and failing to comply to prevent US customers to use the exchange. The SEC implies it’s really hard to locate Binance and its CEO “CZ” and seeks to provide papers to lawyers representing “CZ” and Binance . Binance doesn’t have an official headquarters and “CZ” is protective about his privacy. He was born in China and is a Canadian citizen. CZ is believed to be in Dubai. However, SEC has recent...

Bank records and company messages have revealed that Binance US relied on Binance to process payments and cover payroll, in complete contradiction to the firm’s insistence that it operated independently, Reuters reported on Monday. Now-defunct Silvergate Bank authorized Binance exec Guangying Chen to move funds held in Binance US accounts in 2019 and 2020, bank records revealed. Chen, a close associate of Binance chief Changpeng Zhao (CZ), was asked by US employees to process payments and cover payroll, according to company messages. In February, Reuters reported that an employee in Chen’s team had access to one Binance US Silvergate account, which transferred over $400 million to Merit Peak, a trading firm controlled by CZ, back in 2021. Further, the outlet reported that Binance commingled customer funds with corporate revenues in Merit Peak’s Silvergate account. Binance denied both investigations. This latest news further discredits Binance’s claims that its US arm had “exclusi...