“Expect Some Fireworks” at Next Binance Vs SEC Hearing: Ex-SEC Official

John Reed Stark, a former Executive of the United States Securities and Exchange Commission (SEC) has asked his more than 25.7k followers on the X platform to “expect some fireworks” at the next hearing between the regulatory body and Binance Exchange.

Extensive Analysis of the Binance Vs SEC Case

In his usual style, John Reed Stark took his time to dissect the state of the Binance Vs SEC legal battle such that the latest motion granted by Judge Faruqui, the outlook on the trading platform’s engagement with Ceffu, and other analyses were presented.

Despite Reed maintaining his status as a major critic of cryptocurrencies and industry backers like Binance, he slammed the exchange’s current team of lawyers who he said are charging overtime to pursue a case they are quite unsure they can win or not.

SEC Lashes Out At Binance, Threatening To Seek A Contempt Order

The litigation war between the U.S. Securities and Exchange Commission (SEC) and Binance continues to heat up exponentially.

Specifically, thanks to some limited “judicial unsealing,” (albeit amid lots of… pic.twitter.com/QhrifkACL4

— John Reed Stark (@JohnReedStark) September 16, 2023

The level of uncertainty in the Binance and SEC case remains one that Reed acknowledges will be difficult to comprehend. He noted that both the outside observers and in-house counsels might end up being amazed when the next hearing, scheduled to be accommodated by the Court early next week eventually takes place.

Reed predicted more struggles for the exchange seeing the exodus of top leaders from the firm. As both the lawyers of the SEC and those of Binance argue their case, Reed said there will be a lot of finger-pointing, and feigned outrage “during what will undoubtedly evolve into an SEC/Binance D.C. federal court smackdown.”

Will Binance Ink a Record?

Binance has been operating as the dominant trading platform since its inception back in 2018. With its growth, a varying degree of complexity has been introduced and besides being the most pursued trading platform by regulators around the world, the SEC lawsuit will be the biggest Litmus test in its short history.

The industry expectations are high now and many wonder whether or not Binance has a solid defense for its case that will help it set a new crypto-legal record to trail the likes of which Ripple Labs and Grayscale Investments have inked in the past few months.