The interim CEO of Binance.US, Norman Reed, accused the U.S. Securities and Exchange Commission (SEC) of causing significant damage to the company by labeling it a fraud and cutting off its banking relationships. Reed stated that the SEC failed to provide evidence to support its claims in court. Binance.US, which is a separate entity from Binance Global, faced a lawsuit by the SEC in 2023 but did not participate in the subsequent settlement. Reed expressed hope that Binance.US will regain its USD fiat services soon and is seeking partnerships with banks and dialogue with state regulators. Reed criticized the SEC for its actions and called for justice. Binance.US was affected by the debanking of crypto businesses, known as "Operation Chokepoint 2.0," with payment processors backing away due to reputational risk and pressure from subpoenas. The SEC attempted to freeze Binance.US's assets with a temporary restraining order but had no evidence to support their allegations. Reed emphasized the resilience of the company and its commitment to success.



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