source: bitcoin.com
A new court filing reveals that over $70 billion in cryptocurrency transactions were processed by Silvergate and Signature Bank on behalf of Binance. The filing, which was made in the United States District Court for the Southern District of New York, was unsealed on June 7, 2023.
The filing shows that Silvergate processed over $50 billion in transactions for BNB, while Signature Bank processed over $19 billion. The transactions took place between January 2020 and March 2022.
The filing also shows that some of the funds that were processed by Silvergate and Signature Bank were transferred to foreign entities. The filing does not specify which foreign entities received the funds.
The Securities and Exchange Commission (SEC) has filed a lawsuit against BNB, its co-founder Changpeng “CZ” Zhao, and Binance. The US. The SEC alleges that BNB violated US securities laws by failing to register as a securities exchange.
Read More: Binance Money Trail Reveals $70 Billion Flowing Through Silvergate, Signature
The SEC lawsuit seeks to freeze Binance’s assets and prevent the company from operating in the United States. BNB has denied the allegations made by the SEC.
The court filing released on June 7 provides new details about the financial transactions that took place between BNB and Silvergate and Signature Bank. The filing also raises new questions about Binance’s compliance with US securities laws.
It is important to note that the court filing is just one piece of evidence in the SEC’s lawsuit against BNB. The SEC has not yet made its case in court, and BNB has not yet had an opportunity to respond to the allegations.
The case is still ongoing, and it is too early to say what the outcome will be. However, the court filing released on June 7 provides new insights into the financial transactions that took place between Binance and Silvergate, and Signature Bank. The filing also raises new questions about Binance’s compliance with US securities laws.
About Binance
Binance is a cryptocurrency exchange that was founded in 2017 by Changpeng Zhao. It is the largest cryptocurrency exchange in the world by trading volume. BNB offers a variety of services, including spot trading, margin trading, futures trading, staking, and lending. The exchange also has its own cryptocurrency, Binance Coin (BNB).
Binance is a popular exchange for both beginners and experienced traders. The exchange offers a user-friendly interface and a wide variety of features. However, BNB has also been criticized for its lack of customer support and for its involvement in some questionable activities.
Binance remains the most popular cryptocurrency exchange in the world. The exchange is a convenient and easy way to buy, sell, and trade cryptocurrencies.
