Binance CEO Changpeng Zhao said the exchange is not selling Bitcoin (BTC) nor Binance’s own token, BNB.
The repercussions of the lawsuit filed against Binance by the US Securities and Exchange Commission (SEC) continue. The SEC filed different charges against Zhao and Binance. According to the lawsuit, which came to the fore in the first week of June, Binance violates the US Securities Act. More than 10 cryptocurrencies were considered securities in the lawsuit filed.
Binance CEO CZ Says They Are Not Selling BTC and BNB
During the lawsuit, the issue of freezing the assets of the US arm of Binance was also brought up. However, news emerged that reconciliation talks were held on this issue. The SEC and Binance are trying to reach a compromise on freezing US assets. Binance US will have to transfer all its US-based assets to new wallets. But he will be allowed to pay his bills under a proposed approval order.
In addition to all this, Binance CEO Changpeng Zhao takes the road to Twitter to inform his followers at every opportunity. In his latest tweet, Zhao said, “Binance did not sell BTC or BNB. In fact, we still have FTT,” he said, and again issued a FUD warning.
4. Binance have not sold BTC or BNB. We even still have a bag of FTT.
It is amazing they can know exactly who sold based on just a price chart involving millions of traders. FUD. 🤷♂️ pic.twitter.com/M3MUH2bFRE
— CZ 🔶 BNB (@cz_binance) June 13, 2023
The cryptocurrency ecosystem was shaken by the bankruptcy of FTX not long ago. This year, the SEC has sued two cryptocurrency exchanges, such as Binance and Coinbase, fueling concerns that the difficult days in the market may actually be prolonged.
According to Reuters, BNB has lost more than 20 percent since the SEC’s move.
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