Binance, Coinbase, and the SEC (Featuring Mike Burgersburg of Dirty Bubble Media)
Crypto Critics' Corner
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The SEC's Investigation of Binance US
Binance US was never a separate company, according to the SEC. They were using Merit Peak, a Chang Penzao owned market maker as an intermediary for BUSD. Clients didn't know their funds were being transferred to and Chang Penzao owned market maker. Some of that money reportedly went to purchase an $11 million yet.
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