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source binance secjeansforbes ceo changpeng zhao pepe unchain Bnb Eth XRP aave Bitcoin Bonk

Did Binance violate securities law?

Changpeng Zhao, cofounder and CEO of Binance. On Monday, the Securities and Exchange Commission sued Binance, alleging that the world’s largest crypto exchange violated U.S. securities law. The SEC also named Changpeng “CZ” Zhao, the firm’s cofounder and CEO, in the suit, as well as BAM Trading, the operator of Binance’s U.S. branch.

Did Binance secretly send money to a separate company?

In a court filing, the Securities and Exchange Commission (SEC) accused Binance of mixing “billions of dollars” in customer funds and secretly sending them to a separate company controlled by its founder and chief executive, Changpeng Zhao.

Who is Changpeng Zhao?

Senior writer covering AI, defense and national security. Founder and CEO of Binance Changpeng Zhao, commonly known as "CZ", attends the "CZ Updated: Changpeng “CZ” Zhao stepped down as CEO of Binance as part of a major $4 billion settlement between United States agencies and the cryptocurrency exchange he founded.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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