Reuters reports that massive layoffs have taken place at the company.
The SEC has also asked to freeze Binance.US assets, however, the court rejected.
After the US SEC filed a complaint against the crypto behemoth Binance.US last week for allegedly breaking federal securities laws, Reuters reports that massive layoffs have taken place at the company.
Reuters cites sources saying that since the lawsuit was filed, at least 50 workers have lost their jobs at Binance.US. According to the sources, the company has also laid off workers in the legal, compliance, and risk departments. The sources have asked to remain anonymous since this is a sensitive topic.
The Securities and Exchange Commission (SEC) filed a complaint against Binance and its CEO Changpeng Zhao on June 5 for allegedly engaging in “web of deception” to circumvent securities regulations. Binance, though, has promised to “vigorously” defend itself.
The SEC has also asked the court to freeze Binance US assets. The court,
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