Binance.US Seeks To Revoke SEC's Request To Freeze Its Funds
“Operations would quickly grind to a halt” Without the ability to pay employees, vendors, suppliers and professionals or to maintain the trading platform, the operations will quickly grind to a halt, Binance.US attorneys said Monday in a court filing. “With a freeze of all corporate assets, banking partners would most likely cease to honor requests to transfer funds for any purpose, including customer redemptions,” the exchange added. The SEC had requested the federal court to seize assets of Binance.US , after it sued Binance entities and founder Changpeng Zhao last week, alleging “blatant disregard of US securities laws” and “years of violative conduct” that puts customer funds at risk. Binance assures US customer assets are safe Binance.US attorneys further argued in their court filing that US customer assets are safe and said “there is no need for the draconian relief sought by the SEC.” As reported earlier, the US SEC had filed an emergency action application for a tempo...