Remember the recent SEC lawsuit against Binance? One of the main claims in it was that the U.S. division of the platform allegedly mixed user funds with its own.
However, at a fresh meeting, SEC representatives confirmed that they had no confirmation of the withdrawal of funds to offshore locations outside the United States. And so, in essence, there was also no sending of money to companies led by Changpen Zhao "for their further enrichment." The relevant quote is highlighted in red.
With that said, Binance-US lawyers have filed a motion and said that the Commission has no evidence of its previous accusations. And this is clearly good news for the exchange.
