Journalists were able to find parallels between the lawsuit against Binance and FTX

The SEC's claims against Binance completely coincide with those that were put forward against the bankrupt FTX cryptocurrency exchange. The latter's subsidiary, Alameda Research, also had such accusations.

What claims are we talking about?

The charges indicate the mixing of the platform's crypto assets with user ones. They also talk about the misuse of their funds and the possible manipulation of the coin market, which the platforms launched independently. This information is provided by the publication The Block.

Specialists conducted a detailed study of the department's complaint. It consists of 136 pages. It specifies all the arguments, which include the data of former high-ranking managers of the American branch of Binance. Additionally, corporate correspondence between specialists of the crypto exchange was cited.

Similarly to the FTX case, the agency believes that the crypto exchange was able to attract American users, but at the same time operated offshore. It also failed to complete the necessary registration in the country and did not separate its trading operations in different jurisdictions, bypassing existing regulatory requirements.

The GRIN4 ecosystem

We have created a bot to make money on crypto exchanges. You set the settings, and he trades 24/7. Manage all assets from one service: with your own hands or with the help of algorithmic trading. Anonymously. Simply. Stress-free.