Binance Vs SEC: In the latest development in the lawsuit, Binance Holdings and former CEO Changpeng “CZ” Zhao revealed key details in the United States v. Eisenberg lawsuit that could negate the U.S. SEC’s position on stablecoins such as BUSD and USDC as securities.
Binance Leverages DOJ Lawsuit to Prove US SEC Wrong
Defendants Binance Holdings and Changpeng Zhao submitted a joint notice of supplemental authority against one of the SEC’s claims that stablecoins are securities, as per a new court filing.
Binance aimed to bring to the court’s attention the United States’ position in the United States v. Eisenberg lawsuit regarding whether a stablecoin (USDC) is a security or not. This holds a major advantage in countering the SEC’s complaint that stablecoin Binance USD (BUSD) is an unregistered security.
In the $110 million Mango Markets fraud case, the jury found Avraham Eisenberg guilty of fraud and market manipulation. However, an exhibit in the US DOJ filing states that
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