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Top related persons:
Changpeng Zhao - 2 Dado Ruvic - 1 Lavanya - 1 Kim Coghill - 1 Sharon Singleton - 1 Binance's - 1 Zhao - 1 Binance - 1
Top related locs:
U.S Bengaluru Swiss British Virgin Islands Binance's U.S United States UAE
Top related orgs:
BAM - 2 BAM Management - 2 SEC - 2 REUTERS - 1 U.S . Securities - 1 Exchange Commission - 1 Court - 1 Columbia - 1

Search resuls for: "BAM Management"


2 mentions found


☆ Binance files for protective order against SEC
  + stars: | 2023-08-15 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Dado Ruvic/Illustration/File PhotoAug 15 (Reuters) - Crypto exchange Binance late on Monday filed for a protective court order against the U.S. Securities and Exchange Commission saying the regulator's requests for information were "over broad" and "unduly burdensome". In a court filing in the US District Court of Columbia, BAM Trading, Binance U.S.'s operating company and BAM Management said the group had already provided sufficient information to the regulator. The protective order seeks to limit the SEC, among other things, to four depositions from BAM employees, and to drop the deposition of BAM's chief executive and of its chief financial officer, without naming anyone. Binance and the SEC did not immediately respond to a request for comment. The SEC has declined BAM's proposals to meaningfully limit its requests and is opposed to the motion for a protective order, the filing said.
Persons: Dado Ruvic, Changpeng Zhao, Lavanya, Kim Coghill, Sharon Singleton Organizations: REUTERS, U.S . Securities, Exchange Commission, Court, Columbia, BAM, BAM Management, SEC, Thomson Locations: U.S, Bengaluru
☆ Binance U.S. clients have $2.2 billion 'at significant risk' after crypto exchange charged, SEC says
  + stars: | 2023-06-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com   time to read: +3 min
The $2.2 billion of U.S. customer assets held by Binance is at "significant risk" of being stolen by founder Changpeng Zhao unless a freezing order is in put place, federal regulators said in a filing Tuesday night, after the crypto regulator was charged by the Securities and Exchange Commission. The SEC sued Binance and Zhao on Monday, alleging they engaged in the unregistered offer and sale of securities and commingled investor funds with their own. Years of communications between the SEC and Binance, which claims no official headquarters, suggest that Binance.US couldn't clearly indicate who controlled customer assets, according to the filing. "Zhao and Binance have had free reign," the SEC alleged, over "customer assets worth billions of dollars." The SEC says federal law and precedent establish the court's jurisdiction over Zhao and Binance.
Persons: Binance's, Changpeng Zhao, Zhao, Binance, Timothy Massad Organizations: Binance, Securities and Exchange Commission, Lawyers, SEC, BAM, BAM Management, Binance's, BAM Trading Locations: U.S, Swiss, British Virgin Islands, Binance's U.S, United States, UAE
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