🚨 SEC applies to freeze assets of Binance.US and CZ
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The SEC is asking the court to freeze the assets owned by Binance. US and Changpeng "CZ" Zhao, as part of an initial enforcement action.
The commission asked for the asset freeze because of allegations against CZ and executives of Binance. US of diverting customer funds into its own investment funds. The charges are similar to those against FTX, Alameda Research and Sam Bankman-Fried, although CZ and Binance have so far only faced civil charges.
The regulator is also asking the court to order holding company Binance, Binance. US and CZ to provide the court with accounting statements and reserve reports of the exchange.
"Users' assets are safe, the platform will continue to operate in full capacity, and deposit and withdrawal functions are operating as normal," Binance officials said. US
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