Binance CEO CZ’s Use of Signal Chat Application Revealed in US CFTC Lawsuit
On March 27th, according to a lawsuit issued by the U.S. Commodity Futures Trading Commission (CFTC), the document mentioned several chat records about CZ\’s use of the Signal chat
On March 27th, according to a lawsuit issued by the U.S. Commodity Futures Trading Commission (CFTC), the document mentioned several chat records about CZ’s use of the Signal chat application, including his conversations with Binance employees, U.S. customers, and others. The chat record also mentions the instructions issued by CZ to employees requiring them to use Signal to communicate about the “US ban”.
The lawsuit file released by CFTC of the United States involves CZ’s Signal chat records
In a recent lawsuit filed by the U.S. Commodity Futures Trading Commission (CFTC) on March 27th, several chat records were brought to light about Binance CEO Changpeng Zhao’s (CZ) use of the Signal chat application. These chat records included conversations with Binance employees, U.S. customers, and others regarding the “US ban”. This article delves deeper into the details of the lawsuit and its implications for Binance and CZ.
Background on the CFTC Lawsuit
The CFTC filed a lawsuit against Binance Holdings Limited, Binance US, and CZ alleging that they had facilitated the trading of cryptocurrency derivatives with U.S. customers without being registered with the CFTC. As part of this lawsuit, the CFTC obtained access to Signal chat records which contained several conversations between CZ and other individuals related to Binance.
CZ’s Use of Signal Chat Application
The chat records obtained by the CFTC revealed CZ’s frequent use of the Signal chat application to communicate with Binance employees, U.S. customers, and others. In some of these conversations, CZ instructed employees to use Signal to discuss the “US ban”, which refers to the ban on trading cryptocurrency derivatives with U.S. customers. This ban was put in place in 2018 by the CFTC, and Binance was not registered with the CFTC at the time.
Implications for Binance and CZ
The CFTC lawsuit and the revealed chat records could have significant implications for Binance and CZ. If found guilty, Binance and CZ could face substantial fines and other penalties. Additionally, the revelation of CZ’s use of Signal chat to discuss the “US ban” could damage Binance’s reputation among U.S. customers and regulators.
Furthermore, the use of Signal chat could be seen as an attempt by Binance and CZ to evade regulatory oversight. The CFTC has been cracking down on the trading of cryptocurrency derivatives with U.S. customers, and Binance’s alleged facilitation of such trading without being registered with the CFTC could be seen as a violation of U.S. law.
Conclusion
The CFTC lawsuit and the revelation of CZ’s use of Signal chat has brought significant attention to Binance and could have serious implications for the cryptocurrency exchange and its CEO. As the cryptocurrency industry continues to operate in a regulatory gray area, it is important for companies like Binance to ensure they are in compliance with applicable laws and regulations.
FAQs
1. What is the “US ban” referred to in the chat records obtained by the CFTC?
– The “US ban” refers to the ban on trading cryptocurrency derivatives with U.S. customers put in place by the CFTC in 2018.
2. What penalties could Binance and CZ face if found guilty in the CFTC lawsuit?
– Binance and CZ could face substantial fines and other penalties if found guilty in the CFTC lawsuit.
3. What could be the implications of the use of Signal chat to discuss the “US ban” for Binance and CZ?
– The use of Signal chat to discuss the “US ban” could damage Binance’s reputation among U.S. customers and regulators, and could be seen as an attempt to evade regulatory oversight.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/metaverse/11439.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
Data: Arca and an anonymous address have transferred 2.5 million IMXs to Coin An from last night to now, approximately $3.41 million
According to reports, according to the KOL Remains Monitoring on Crypto Twitter, last night, in addition to the crypto fund Arca transferring 1.5 million IMX (approximately US $2.1
-
Cool Cats NFT Project Unaffected by Bank of Silicon Valley
It is reported that the NFT project Cool Cats confirmed on social media that it was not affected by the Bank of Silicon Valley. In addition, the project also disclosed that Journey 3 has been officially launched. The way users earn points includes completing crossword puzzles, circling overlapping letters, finding hidden messages and submitting answers. In addition, according to NFTGo data, the current floor price of Cool Cats is 1.81 ETH, down 2.43% in the past 24 hours, and the total transaction volume up to now has reached 392 million dollars. Cool Cats: Without any influence from Silicon Valley Bank, Journey 3 was officially launched Analysis based on this information:The NFT (Non-Fungible Token) project Cool Cats has confirmed that its platform remains unaffected by the Bank of Silicon Valley closure. The Bank of Silicon Valley ordered a cease in operations and liquidation last week, which alarmed some NFT investors who thought that it may have affected their assets. This statement…
-
#Table of Contents
According to reports, Tesla CEO Musk has announced that creators on Twitter can now monetize their content. The latest user centric reform – allowing users to profit globally throu
-
The Bank of First Republic of the United States: A Struggling Financial Institution
It is reported that the Bank of First Republic of the United States fell more than 30% before the opening of the session. After the Bank of Silicon Valley, the Bank was also run late last week. Bank of America’s First Republic fell more than 30% before the session Analysis based on this information:The message holds an alarming revelation about the Bank of First Republic of the United States. It reports that the financial institution experienced a decline of more than 30% in its value shortly before the start of the current trading session. This announcement is a cause for concern for shareholders and investors alike. The Bank of First Republic appeared to be struggling in the current financial climate, which raises questions about its sustainability in the future. The news of the Bank’s decline follows a similar trend in many financial institutions in the United States. Several banks have been running late, and the Bank of Silicon Valley is…
-
BTC Market Falls Below $30,000 Amidst High Volatility
According to reports, the market shows that BTC has fallen below $30000 and is currently trading at $29999.0, with a daily decline of 0.99%. The market is highly volatile, so pleas
-
Why is tender coin called
Why is the new model coin called? In 2017, blockchain technology began to enter the public’s vision, providing a platform for people to freely express content and trade in a decentralized way From this perspective, Bitcoin and Ethereum are currently one of the most active markets in the Cryptocurrency market – and now we can see that the market value of the entire cryptocurrency market has reached nearly $1 trillion. Therefore, many investors believe that the prices of Bitcoin and other digital assets will become increasingly high over time. However, for those who want to learn about blockchain technology, they are not unfamiliar: when you come into contact with a new technology, your answer often is: either not. But when you encounter a new solution, your answer is usually just a string of characters, a phrase, or a piece of code This is the reason for the so-called “Little White” coins (the new generation). The ‘YoungervsOld generation’ is a method…
-
The Rise and Fall of eToro: What Happened with the Cancelled SPAC and New Investment
According to reports, after canceling the plan to list through SPAC at a valuation of $10.4 billion in 2022, the trading platform eToro obtained a financing of $250 million at a va
-
Mastercard Artists Accelerator Program: Unlocking Creativity With NFTs
On April 13th, Mastercard announced its new Mastercard Artist Accelerator program, which includes a change to Web3 that requires holding an NFT membership pass to access the progra
-
The Rise of Polygon and DefiLlama: A Game-Changer for SilverGate and CBDCs
21:00-7:00 Keywords: DefiLlama, Polygon, SilverGate, CBDC
Overview of important developments overnight on March 21st
The world of cryptocurrency and blockchain technology has seen -
Ferrum Network’s Crucible Launches DeFi 2.0 Pledge Product on Arbitrum
On March 8, it was reported that the DeFi 2.0 sustainable pledge product Crucible of Ferrum Network has been launched in Arbitrum.
DeFi 2.0 sustainable pledge p