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In its 13 charges, the SEC alleged that Binance and Zhao used Merit Peak and Sigma Chain, another trading firm controlled by Zhao, to commingle corporate funds with client assets and use the monies "as they please." This put customers' assets at risk while Binance sought to "maximize" its profits, the SEC wrote in its civil complaint on Monday. "All user assets on Binance and Binance affiliate platforms, including Binance.US, are safe and secure," it said in a statement on Monday. The funds received by British Virgin Islands-based Merit Peak between 2019 and 2021 flowed from Key Vision Development Ltd, also controlled by Zhao, the SEC filing on Tuesday showed. Reuters reported last month that Key Vision and Merit Peak, along with Binance's Cayman Islands holding company, formed the core of the global crypto exchange's financial network.

Persons: Changpeng Zhao, Binance, Zhao, Guangying Chen, Chen, Tom Wilson, Jane Merriman Organizations: U.S . Securities, Exchange Commission, SEC, Sigma, British, Vision Development, Key Vision, U.S, Reuters, Vision, Binance's, Sigma Chain's, BAM, Thomson Locations: Seychelles, British Virgin Islands, Islands, Binance, United States, U.S, Singapore

LONDON, June 5 (Reuters) - A senior Binance executive was the main operator for five bank accounts belonging to the giant cryptocurrency exchange’s purportedly independent U.S. affiliate, including an account that held American customers’ funds, bank records show. This allowed Chen and her deputies to move funds held in the bank accounts. The previously unreported bank records and messages show that Binance’s management over the U.S. business’s finances extended across its bank accounts at Silvergate and detail how this secret access was granted. Binance.US has denied that Binance ever operated its bank accounts. ‘PRIMARY ADMIN USER’The Binance.US trading platform was launched by its operating firm, BAM Trading, in mid-2019 under then Chief Executive Catherine Coley.

Persons: Guangying Chen, Changpeng Zhao, Chen, Binance, Zhao, Binance.US, Krishna Juvvadi, Christian Hertenstein, Brian Shroder, ” Hertenstein, “, Chen’s, Juvvadi, ”, Peak’s, Catherine Coley, Coley, Silvergate, James McDonald, Hertenstein, Susan Li, Li messaged, Li, Angus Berwick, Tom Wilson, Janet McBride, Michael Williams Organizations: Silvergate Bank, U.S, U.S . Securities, Exchange Commission, Reuters, BAM, U.S . Commodity Futures Trading Commission, CFTC, ” Reuters, SEC, “, Thomson Locations: U.S, Washington, American, US, Binance, Shanghai, Binance.US

LONDON, June 5 - A senior Binance executive was the main operator for five bank accounts belonging to the giant cryptocurrency exchange’s purportedly independent U.S. affiliate, including an account that held American customers’ funds, bank records show. This allowed Chen and her deputies to move funds held in the bank accounts. The previously unreported bank records and messages show that Binance’s management over the U.S. business’s finances extended across its bank accounts at Silvergate and detail how this secret access was granted. Binance.US has denied that Binance ever operated its bank accounts. ‘PRIMARY ADMIN USER’The Binance.US trading platform was launched by its operating firm, BAM Trading, in mid-2019 under chief executive Catherine Coley.

Persons: Guangying Chen, Changpeng Zhao, Chen, Binance, Binance.US, Krishna Juvvadi, Christian Hertenstein, Brian Shroder, ” Hertenstein, Zhao, “, Chen’s, Juvvadi, Reutersalso, Peak’s, Catherine Coley, Coley, Silvergate, James McDonald, Hertenstein, ”, Susan Li, Li messaged, Li, Angus Berwick, Tom Wilson, Janet McBride, Michael Williams Organizations: Silvergate Bank, U.S, Reuters, BAM, U.S . Commodity Futures Trading Commission, CFTC, “, Thomson Locations: U.S, Washington, American, US, Binance, Shanghai, Binance.US

☆ For Long-Term Health and Happiness, Marriage Still Matters
▼ + stars: | 2023-03-18 | by ( Brendan Case | Ying Chen | ) www.wsj.com time to read: +1 min

When European travelers first encountered the Warlpiri of Australia’s Outback or the Kalapalo of the Amazon Basin in the 19th century, at least one institution would have been familiar amid the welter of cultural differences. As in the West, life among the Warlpiri and Kalapalo is profoundly shaped by marriage. In their own ways, the members of both of these societies strive to attract desirable spouses and then to raise children and forge a life together. As anthropologist Joseph Henrich observes, despite important variation in its form across cultures, “marriage represents the keystone institution for most (not all) societies, and may be the most primeval of human institutions.”Marriage might be nearly ubiquitous, but does it still matter today? As reliable contraception has lowered the stakes of sex, and women have achieved political and, in some cases, economic equality with men, perhaps marriage has now become merely optional, a capstone rather than a cornerstone of a successful life.

☆ China jails man for 24 years over attack on women at restaurant
▼ + stars: | 2022-09-23 | by ( Rhoda Kwan | Rhoda Kwan Is A Taipei-Based Journalist. | ) www.nbcnews.com time to read: +4 min

A man in northern China was sentenced to 24 years in prison on Friday in connection with an attack on four women at a restaurant that stirred a national conversation on gender-based violence. The attack left two of the women hospitalized. CCTV footage captured a violent attack on women at a restaurant in Tangshan, China, in June. The Tangshan attack, CCTV footage of which quickly spread online, elicited an outpouring of anger among Chinese internet users, many of whom voiced serious concerns over the treatment of women in the country. The verdict on Friday was cheered on Weibo, a popular Chinese social media platform, with many commenters saying Chen’s harsh sentence was well deserved.

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