Binance Faces SEC Charges for Securities Law Violation, Raising Concerns for the Crypto Industry
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June 5, 2023 Posted in: Patriots
Binance Faces SEC Charges for Securities Law Violation, Raising Concerns for the Crypto Industry
US regulators have charged the cryptocurrency giant Binance with securities law violations, accusing the company of an extensive web of deception and calculated evasion of the law.
The Securities and Exchange Commission filed a civil complaint listing 13 charges against Binance’s founder, Changpeng Zhao, who was once considered a rival to Sam Bankman-Fried, a disgraced crypto tycoon.
The charges highlight serious concerns about Binance’s activities and raise questions about the integrity of the entire cryptocurrency industry.
SEC Chairman Gary Gensler said in a Monday statement.
“As alleged, Zhao and Binance misled investors about their risk controls and corrupted trading volumes while actively concealing who was operating the platform, the manipulative trading of its affiliated market maker, and even where and with whom investor funds and crypto assets were custodied,” he added.
What do you think?
Is this government attempting to squash the crypto market?
Or do you think Changpeng Zhao is a criminal and needs to be brought to justice?
Let us know in a comment below!
I wrote a comment and it iddn’t appear
A good diversion to get the focus on the small details. Some truth in all comments but much bigger fish to fry. This is a globalists agenda to suppress and hide there larger agenda of control of the planet but I do think they will fail. Written in the blockchain code is the freedom and Liberty from all the tyranny of governments. Let the governments return to there only functionb as a keeper of all citixens of the world rights to freedom. That’s why the U S is unique to have a constitution that supercedes all government entities.
Does anyone think there is not corruption of the fiat sys. that enslaves the world and has been ever since this republic of the us was formed by those who experienced enslavement from other countries, who knew the dangers of government overreach.
Don’t forget the essence and beauty of blockchain ultimately is decentralization where no government can decide what our individual freedoms thould be. Thanks for you import to remind me of the imprtance of what true liberty and freedom represent.
If you think a Chinese businessman is above board, think again, and again, they are inherently corrupt and view North America as ripe for the picking!
Don’t believe me? Then ask them to swear on their ancestors graves and watch their reaction!
Don’t believe crypto is legit with the only exception of asset backed , maybe!
Listen people , only hard assets (gold and silver) in your physical hands will save you!!!
Good luck, you will need it!!
I don’t know enough about this to say Changpeng Zhao is a criminal, but I never believed the crypt industry was transparent and for the good of all. I would favor it if it was. Too much corruption and misleading lies that best to say here, MY GUT SAYS BE AAWARE and RESEARCH MORE on it!!! Real truths are slipping through the narrative now so this one that the SEC is seriously investigating this is a GOOD thing…If there is nothing to see here, they will know then!!!
Of course the governments & central banks are trying to kill off distributed crypto currencies. They can’t control it, and they need that control in order to control the people.
It’s a scam just like the ongoing scam charges with XRP.
They want to scare people out of cryptos, plain to see to
people who are awake!
It’s the government squashing the crypto market!!!
Gary Gensler is a corrupt DS globalist tool who is trying to destroy the crypto market. Gensler and his DS handlers intend to destroy the US economy and usher in their Central Bank Digital Currency to control everyone. He ignored SBF and the FTX democrat donor collapse, and as the CFO of the 2016 Hillary Clinton presidential campaign, paid for the fully debunked Steele Dossier in a failed attempt to prevent the Trump nomination.
Zhao is a Co-conspirator with FTX.
He needs to answer & pay for his crimes.