The SEC filed a motion in a federal court to issue a temporary restraining order to freeze the assets of two of Binance’s US units.
On Tuesday evening, the US Securities and Exchange Commission (SEC) filed an emergency application for a temporary restraining order to freeze the assets of BAM Management US Holdings and BAM Trading Services. The SEC alleges that Binance’s parent company and its CEO, Changpeng Zhao, secretly controlled these two units.
The agency said in a press release that relief is sought to protect Binance.US customers’ assets.
The Securities and Exchange Commission today filed an emergency action application seeking a temporary restraining order freezing assets, directing defendants to repatriate assets held for the benefit of customers of the Binance.US crypto trading platform, and seeking other emergency relief against Binance Holdings Limited, BAM Trading Services Inc., BAM Management US Holdings, Inc., and their founder, Changpeng Zhao, to ensure that B
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