Binance.US seeks to seal sensitive documents amid SEC lawsuit

Must read

‘Oppenheimer’ steamrolls toward Oscars with Screen Actors Guild Award wins

Oppenheimer film billboard in Times Square, NYC on July 29th, 2023.Adam Jeffery | CNBCHistorical epic "Oppenheimer" picked up more prizes on Saturday at Hollywood's...

Smartphone giants like Samsung are going to talk up ‘AI phones’ this year — here’s what that means

Samsung Electronics Co. Galaxy S24 smartphones during a media preview event in Seoul, South Korea, on Monday, Jan. 15, 2024. Samsung, the world's most...

House China committee demands Elon Musk open SpaceX Starshield internet to U.S. troops in Taiwan

Elon Musk, CEO of Tesla and X, speaks at the Atreju political convention organized by Fratelli d'Italia (Brothers of Italy), in Rome, Dec. 15,...

U.S. and British strikes on Houthi sites in Yemen answer militants’ surge in Red Sea attacks on ships

The U.S. and Britain struck 18 Houthi targets in Yemen on Saturday, answering a recent surge in attacks by the Iran-backed militia group on...

Binance.US seeks to seal sensitive documents amid SEC lawsuit

In the latest development of an ongoing Securities and Exchange Commission (SEC) lawsuit, Binance.US, also known as BAM Trading Services, has requested a court order to file sealed documents. The firm, backed by BAM Management US Holdings and its CEO Changpeng “CZ” Zhao, made the request.

The documents in question contain sensitive data including the company’s financial record and account keys. Binance.US, alongside Binance and CEO Zhao, deems the SEC’s escalated requests for document discovery and depositions following the September 18 hearing as excessive and is pushing for case dismissal. Lawyers Matthew Beville and William McLucas are handling the filing process.

On October 13, a joint status report from the plaintiff and defendants was deemed dissatisfactory by Magistrate Judge Faruqui. As a result, he urged both parties to collaborate on document discovery and depositions. The parties are due to provide an updated joint status report by October 30.

The SEC has criticized BAM for only producing about 382 documents under their consent order. The regulator’s ongoing lawsuit against the cryptocurrency exchange continues to unfold with this latest move by Binance.US to protect its sensitive data.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

More articles

Latest article

‘Oppenheimer’ steamrolls toward Oscars with Screen Actors Guild Award wins

Oppenheimer film billboard in Times Square, NYC on July 29th, 2023.Adam Jeffery | CNBCHistorical epic "Oppenheimer" picked up more prizes on Saturday at Hollywood's...

Smartphone giants like Samsung are going to talk up ‘AI phones’ this year — here’s what that means

Samsung Electronics Co. Galaxy S24 smartphones during a media preview event in Seoul, South Korea, on Monday, Jan. 15, 2024. Samsung, the world's most...

House China committee demands Elon Musk open SpaceX Starshield internet to U.S. troops in Taiwan

Elon Musk, CEO of Tesla and X, speaks at the Atreju political convention organized by Fratelli d'Italia (Brothers of Italy), in Rome, Dec. 15,...

U.S. and British strikes on Houthi sites in Yemen answer militants’ surge in Red Sea attacks on ships

The U.S. and Britain struck 18 Houthi targets in Yemen on Saturday, answering a recent surge in attacks by the Iran-backed militia group on...

Broadcom reportedly nears $3.8 billion sale of remote access unit to KKR

A sign on the campus offices of chipmaker Broadcom is shown in Irvine, California.Mike Blake | ReutersChipmaker Broadcom is nearing a $3.8 billion deal...