Breaking: Judge Faruqui Issues Order In Binance Vs US SEC Lawsuit
Magistrate Judge Faruqui on Wednesday signed a minute order in the U.S. Securities and Exchange Commission (SEC) lawsuit against Binance, Binance.US, and CEO “CZ”. The move comes as Binance and its subsidiary Binance.US filed a joint motion with the SEC for a protective order and opposition to the SEC’s motion to compel a discovery request.
Judge Announces Order in Binance Vs SEC Lawsuit
According to a court filing on September 13, Magistrate Judge Zia M. Faruqui has issued a minute order in the U.S. SEC v. Binance lawsuit. He scheduled the next hearing on Monday, September 18.
Magistrate Judge Faruqui will hear the arguments of defendants on the motion for a protective order by BAM Management US Holdings and BAM Trading Services (Binance.US). Also, the arguments made by the SEC regarding opposition to protective order and motion to file documents under seal.
Judge Amy Berman Jackson ordered Magistrate Judge Faruqui to mediate the dispute between BinanceUS and SEC regarding matters mentioned in the protective order. BinanceUS claims the SEC is exceeding the agreed-upon consent order, requests the court for an order to preclude depositions of BinanceUS’ CEO and CFO, and rejects the SEC’s demands that have nothing to do with the case.
On Monday, Binance Holdings and Binance.US along with the SEC filed a joint motion for a protective order concerning confidential details in the litigation. Binance.US also filed an opposition to the U.S. SEC regarding a motion to compel and for other relief.
Read More: XRP Lawyer Says Binance May Get A US DOJ Sealed Indictment
Is Binance.US in Trouble?
Brian Shroder, CEO of Binance’s US affiliate Binance.US has departed as the crypto exchange witnessed another round of job cuts. The exchange laid off a third of its workforce.
Moreover, the recent exit of a number of senior management employees has caused some to speculate that the exchange is in trouble. However, CEO CZ has denied the FUD and cleared that the exchange periodically reviews its team.
Also Read:
- Elon Musk’s X Agrees To Settle Twitter Mass Layoff Lawsuit, What It Means For Dogecoin?
- MAS Bans 3AC Executives Zhu Su and Kyle Davies, Is OPNX Exchange Impacted?
- BTC Price At Takeoff Threshold: Will Bitcoin Hit $100k Post Halving In 2024?
- Fed’s Anna Paulson Backs Rate Cuts, Downplays Trump Tariff Impact
- Is Another BTC Price Crash Ahead As ‘Trump Insider Whale’ Increases Bitcoin Short to $340M
- Bitget Reveals Rising Crypto Adoption as Nigeria, China, and India Lead Growth
- Breaking: Michael Saylor’s Strategy Adds 220 Bitcoin Amid Crypto Market Dip
- Breaking: China Renaissance Bank Eyes $600M Raise for BNB-Focused Fund with YZI Labs
- Trader Sees a Dogecoin Price Surge as House of Doge Sets for a NASDAQ Listing
- Will Shiba Inu Price Recover After the Crypto Crash As Burn Rate Soars 8,194%?
- Bitcoin Price Mirrors March 2020 Crash as US–China Trade Easing Fuels Recovery
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
- Can $TAPZI Reach $1 In Q1 2026?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
