NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Binance.US Responds To Motion Seeking Fund Freeze, Asserts SEC’s Claims Are Invalid

Eli Dambel
Eli Dambel
1 year ago
3 mins read
Binance.US Responds to Motion Seeking Fund Freeze, Asserts SEC's Claims Are Invalid

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Binance.US has submitted its defense before the June 13 hearing to determine the freezing of its funds. Binance.US criticized the Securities and Exchange Commission’s (SEC) motion for a temporary restraining order, describing it as draconian and unduly burdensome. 

The exchange also voiced opposition, arguing that the proposed measures would place excessive restrictions and “effectively end” its business.

Related Reading

XRP

XRP Could Be Set For A Breakout As Investment Inflows Continue

2 years ago

Notably, the hearing on the restraining order will take place in the US District Court for the District of Columbia on June 13 before DCJ Amy Berman Jackson.

Closure Of BAM Trading Services Inc. Would Harm Customers And Inhibit The Defense, Binance.US

In a recent opposing motion, Binance.US expressed that implementing the restraining order would result in the closure of BAM Trading Services Inc., the entity responsible for providing crypto trading and exchange services for Binance.US.

“The requested relief would primarily harm BAM’s customers, effectively put BAM out of business, and prevent BAM from defending itself in this litigation,” said the company.

Binance believes operations would ‘quickly grind to a halt’ without the ability to pay its employees and professionals in the ordinary course of business, and BAM would be unable to even fund its ‘defense’ to this action.

Binance.US notably criticized the regulator’s approach in pursuing legal action, asserting that the US SEC failed to identify any security trading on BAM’s platform, causing all of the SEC’s claims to fail.

In addition, Binance.US stated that it had actively engaged in cooperation with an ongoing SEC investigation that commenced on December 20, 2020.

The filing reveals that as a result of this investigation, Binance.US has provided over 700,000 individual communications and specific data related to its day-to-day operations.

This statement suggests that the company has shown efforts to be transparent and responsive to the SEC’s inquiries. It also indicates a willingness to comply and provide the necessary information during the investigative process.

SEC Accuses CZ Of Moving $12 Billion In Funds And Seeks Asset Freeze

On June 5, the US SEC made a significant move by filing 13 charges against Binance entities and its founder, Changpeng Zhao.

The charges were related to the operation of unregistered exchanges, broker-dealers, and clearing agencies, among others. The regulator also alleged that the crypto exchange allowed US customers to engage in such trading, further violating securities laws.

Binance.US Responds to Motion Seeking Fund Freeze, Asserts SEC's Claims Are Invalid
BNB is up by over 6% on the chart l Source: TradingView.com

In addition to the charges, the SEC claimed that Binance CEO had access to the exchange’s customer funds, alleging he orchestrated the movement of $12 Billion through a privately-controlled entity, Merit Peak.

The following day, on June 6, the SEC filed an emergency motion for a temporary restraining order against Binance, further intensifying its efforts.

The motion was intended to stop any transactions or movements of money on Binance.US. This legal action marked a pivotal moment in the popular cryptocurrency exchange’s regulatory scrutiny.

Featured image from Pixabay and chart from Tradingview.com

Tweet123Share196ShareSend
Eli Dambel
Eli Dambel

Eli Dambel

Eli brings an eclectic point of view to market analysis. Currently, he writes about various asset classes, including Crypto and Stocks. Eli has been writing crypto oriented content for almost 6 years now and he is a hard core believer in Blockchain and is confident that it can reform the traditional financial system. He also thinks Bitcoin will become universal currency in the near future.

Read more

You can follow Eli on Twitter: @EliDambel

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Crypto expert: Bitcoin koers gaat snel exploderen naar $250.000

Bitcoin Price Breaks 8-Year Resistance Line That Failed In 2017-2021

With the Bitcoin price rising to new all-time highs every other day, more crypto analysts have come forth with their...

Scott Matherson 17 hours ago
Stellar

Stellar (XLM) Set To Explode? 92% Rally Sparks Bullish Frenzy—Details

Stellar (XLM) has seen a sudden burst of activity this week. According to recent data, XLM jumped 12% in the...

Christian Encila 18 hours ago
Bitcoin

Kiyosaki Awaits The Next Bitcoin Sale: ‘My Fellow Pigs And I Are Feasting’

Robert Kiyosaki, author of “Rich Dad Poor Dad,” stepped back into the Bitcoin market with a bold move. According to...

Christian Encila 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Hits $123K, But Market Euphoria Has Yet to Kick In, Says Analyst

Bitcoin Hits $123K, But Market Euphoria Has Yet to Kick In, Says Analyst

Samuel Edyme 2 hours ago
Bitcoin

$122,000 And Climbing: Bitcoin Sets New Record As ETFs Drive Demand

Christian Encila 7 hours ago
Avalanche

Avalanche Shatters Record With 20M Transactions—Is Real-World Use Finally Here?

Christian Encila 10 hours ago

Premium Sponsors

Press Releases

  • How XRP Users Can Make $1 Million from $100 in No Time at...

    2 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    6 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    7 hours ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    8 hours ago
  • Bitcoin Hyper

    ...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.