NewsletterBreaking: 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?
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.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Bitcoin to Drop to $10K? Bloomberg Analyst Makes Bold Prediction
- U.S. Banks May Soon Issue Stablecoins as FDIC Proposes GENIUS Act Framework
- Breaking: U.S. SEC Ends Four-Year Investigation Into Aave Amid Ongoing DAO Saga
- Breaking: U.S. Jobs Data Comes In Above Expectations, Bitcoin Price Rises
- Bitcoin Risks Deeper Fall on $20 Billion Crypto Hedge Fund Redemptions
- Solana Price Outlook After Charles Schwab Adds SOL Futures — What Next?
- Pi Network Stares at a 20% Crash as Whale Buying Pauses and Demand Dries
- Here’s How Dogecoin Price Could Rise After Crossing $0.20
- Is XRP Price Headed for $1.5 as Whales Dump 1.18B XRP in Just Four Weeks?
- Bitcoin Price Weekly Forecast as Gold’s Surge Revives Inverse Correlation — Is $85K Next?
- Ethereum Price Risks $2,600 Drop Despite JPMorgan’s New Fund on its Network
