<p>The Binance liquidation scandal has taken another turn. US regulators, recently informed of the situation, may initiate an in-depth audit of the platform. A resounding event reminiscent of the beginnings of the FTX collapse.</p> 
<h2 id="h-crypto-lawyer-demands-sec-audit-of-binance">Crypto lawyer demands SEC audit of Binance</h2> 
<p>In an unexpected turn of events, Binance, a major crypto player, finds itself at the heart of a major controversy.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<p>Yesterday, prominent crypto lawyer John Reed Stark called on the Securities and Exchange Commission (SEC) as well as the Financial Industry Regulatory Authority (FINRA), urging them to intervene swiftly to conduct a thorough investigation into Binance’s current situation.</p> 
<p>This initiative stems from the platform’s sudden suspension of <a href="https://www.cointribune.com/en/binance-suspension-retraits-sepa-alerte-utilisateurs-2/" target="_blank" rel="noreferrer noopener">SEPA credit transfers</a>, sending shockwaves through the crypto community.</p> 
<p>Promptly reacting to the suspension of EU withdrawals, John Reed Stark <a href="https://twitter.com/JohnReedStark/status/1693578183138803777?s=20" target="_blank" rel="noreferrer noopener">said</a> on Twitter:</p> 
<p><em>“The SEC and FINRA should immediately send a team of auditors, inspectors and examiners to investigate what happened and, if appropriate, refer the matter to the SEC Enforcement Division or even DOJ. Oh wait, Binance is not registered. Never mind. Caveat Emptor.”</em></p> 
<p>This announcement had an immediate impact on the BNB share price. Over the past 24 hours, BNB has fallen by over 4%, reaching a one-year low of $208.</p> 
<p>This announcement had an immediate impact on the BNB share price. Over the past 24 hours, BNB has fallen by over 4%, reaching a one-year low of $208.</p> 
<p>It should be remembered that Binance is facing a scandal linked to the <a href="https://www.cointribune.com/en/live-scandale-de-liquidation-de-binance-en-temps-reel/" target="_blank" rel="noreferrer noopener">liquidation</a> of its loan on Venus, a case that is sparking heated debate within the crypto community. In addition, the exchange has taken the decision to withdraw from several European Union countries in recent months, the latest example being its withdrawal from the UK.</p>

SEC notified of Binance liquidation scandal: Towards a strict audit?

Table of Contents

Cointribune EN

Other articles published on Aug 24, 2023

SEC Closer to Approving Bitcoin ETF? Marathon CEO Says Chances Have Crossed 50%

China Unveils Blockchain-Powered Data Exchange

Bullish Bets: Traders Flock to Pomerdoge (POMD), Solana (SOL), and Arbitrum (ARB) Ahead of Market...

It’s Time for Higher Courts to Weigh In: Ripple, Terra, and SEC Case Gets Trickier

IMX, RNDR, and FXS Prices Rise Along With the Total Market Cap

Abercrombie & Fitch Company; Up 23.54%, Highest Close in a Decade

Join our free newsletter for daily crypto updates!