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SEC Lawsuit Bombshells Against Binance & Coinbase Explained Simply with Sam Callahan

Coin Stories

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The SEC Complaints Against Binance and Merit Peak

The SEC alleges that two market making firms, owned and controlled by Binance CEO CZ, were conducting manipulative trades. They would divert customer funds and commingle them at these firms without the customer's knowledge. And then also when they were trying to raise money, they would pump up their trading volumes to make it look good. But there wasn't any kind of surveillance or internal controls over how they traded.

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