SEC claimed Binance and Binance US redirected over $12B in cus | Crypto Guru News 🌏

SEC claimed Binance and Binance US redirected over $12B in customer assets to firms controlled by CZ.

SEC has accused Binance and BinanceUS $BNB of redirecting over $12B in customer assets to investment funds controlled by CZ between 2019 and 2021. Most of the funds went to Merit Peak, a personal proprietary firm of Zhao’s. The SEC also has documents from a Binanсe US auditor raising concerns that the American affiliate might not be fully collateralized due to Binance holding the American affiliate’s crypto assets.

The fresh SEC allegations come as supporting evidence in a request by the agency to a federal judge to place a temporary freeze on assets, beyond customer redemptions, at BinanсeUS. The SEC also wants a judge to freeze Binance and Zhao's assets.