Binance Does Not Plan To Sell Any BTC, BNB, Amidst SEC Scandal

It has been just revealed that the important crypto exchange Binance will definitely not sell BTC or BNB, amidst the massive scandal that the SEC threw at them. Check out the latest reports about this below.

As you probably know by now, Binance, along with Coinbase was accused by the SEC and the move triggered massive scandals in the crypto space.

Changpeng Zhao speaks

Binance have not sold BTC or BNB,” CZ said Tuesday on Twitter. “We even still have a bag of FTT. It is amazing they can know exactly who sold based on just a price chart involving millions of traders. FUD.”

The comments came as the exchange is embroiled in a legal dispute with the U.S. Securities and Exchange Commission over allegations of major malfeasance and legal violations at its Binance.US unit the regulator argues should result in prohibiting the company from having more business connections in the country.

The online publication The Block notes the fact that a judge asked the two sides in the dispute to work out a deal in an attempt to avoid a full asset freeze.

Binance in the news

The US arm of the world’s largest crypto exchange by trading volume says the U.S. Securities and Exchange Commission’s (SEC) recent lawsuit could kill their business for good.

As noted by the online pubcalition the Daily Hodl, new court documents revealed the fact that if the SEC is able to freeze its assets, it will effectively put the firm out of business. More than that, it would no longer be able to fund any of its operations.

“If the Court does address the merits of the SEC’s motion, it should deny that motion. The SEC seeks unnecessary and unjustified relief. Far from requesting relief that is “carefully calibrated” to “maintain the status quo,” the SEC’s proposed remedies would effectively end BAM’s business.”

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