The complaint alleged the platform inflated trading volumes through wash trades, diverted customer assets to market-making firms controlled by Zhao, and misled investors about surveillance systems designed to deter manipulation.
Quote
Sources
SEC files dismissal on Binance lawsuit files after two-year securities showdown
Referenced by
The June 2023 lawsuit by the SEC accused Binance and Binance.US of using wash trades to inflate trading volumes, misappropriating customer assets to firms owned by Changpeng Zhao, and falsely claiming to have effective market surveillance systems.
Crypto news
Claim
