U.S. SEC Rips Into Binance.US Over ‘Shaky’ Client Asset Custody, Ties to Ceffu

Binance Executive Controlled Bank Accounts Belonging to U.S. Wing in 2019-20: Reuters

In June, the watchdog sued Binance.US, the exchange’s global parent Binance Holdings and founder Changpeng “CZ” Zhao, alleging they ran an unlicensed securities exchange. The SEC’s findings in the case so far demonstrate “the urgent need for an inspection,” Monday’s filing said, as the regulator restated its worries about Binance’s use of custody platform Ceffu.

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