Page 3 - Binance Us News Today

Executives at Binance.US may have been exploring strategies to offload CZs stake in the company over worry that the exchange might not be able to obtain regulatory licenses as long as Zhao is the

Both Voyager Digital and the creditor committee are still finalizing the liquidation procedures and plan to submit relevant filings on Friday, May 5.

Binance.USs move is a major burden for the now-bankrupt crypto brokerage firm, which has been looking for ways to raise funds to repay its creditors.

The struggle Binance.US is currently facing stemmed from the collapse of crypto-friendly banks, particularly Signature Bank, leaving it without a banking partner.

The SEC has until tomorrow morning to come up with a more convincing argument against Voyager’s restructuring plan.

SEC chairman Gary Gensler previously said that the majority of crypto trading platforms should be considered national securities exchanges, thus the need for them to be registered as such.

A full audit could help reassure users that their assets are safe with Binance after FTX lost over $8 billion of customer deposits.

The move is a part of a long-running probe into Binance over potential violations of money-laundering rules, the Washington Post reported.

The SEC raised a question about Binance.US's ability to "consummate a transaction of this magnitude".

Palo Alto, California-based Binance.US, which operates as an independent legal entity and has a licensing agreement with Binance.com, will make a $10 million deposit and reimburse Voyager for certain expenses up to $15 million.