SEC seeks court authorization to freeze Binance.US assets and BAM Management, BNB falls below $270

After suing Binance and its CEO Changpeng Zhao (CZ) on the 5th, the U.S. Securities and Exchange Commission also sought court authorization on the 6th.Freeze Binance.US holding company BAM Management,The assets of the two companies of BAM Trading are currently rumored that the court may agree to their false seizure, but no official ruling has been made yet.
(Recap:The SEC wants the court to freeze the assets related to “Binance, Zhao Changpeng”! CZ: It only affects Binance US, the Binance platform is safe）
(background supplement:Opinion” The intention behind the SEC’s prosecution of Binance: Jurisdiction competition or Liwei?）

The latest update” Coingraph reported on the evening of the 7th that the court has officially authorized the freezing of the assets of BAM Management and BAM Trading. While not authorizing the freezing of Binance.US’ assets, the court also ordered Binance.US to return all fiat and cryptocurrencies held in the account to its customers within ten days, tantamount to completely stifling the normal operations of the company.However, the mobile zone has searched for news from the US, but this news has not been confirmed, and further positive announcements by the US judicial authorities are still required.

beautifulOn the 6th, the U.S. Securities and Exchange Commission (SEC) requested the District Court in Washington, D.C. to approve a temporary injunction order to freeze assets related to Binance.US and its holding companies BAM Management and BAM Trading.

🚨BREAKING: 🇺🇸 US Court grants request to freeze assets of #Binance subsidiaries in the country.

— Coingraph | News (@CoingraphNews) June 7, 2023

BNB once fell below $270

Affected by this news, Binance platform currency BNB was reported as low as $268.4 earlier, falling below the low point set on the 5th.

Binance responds that only the US subsidiary is affected

As for whether external concerns will affect the main Binance International platform outside of Binance US, CEO Changpeng Zhao also issued a statement earlierexpress：

Clarified that the asset freeze will only affect Binance US if the court approves it.
Binance is not affected, and user assets are safe.

Clarification: this could only affects https://t.co/hSHrrlF7o7IF granted by the court.

It does NOT affect https://t.co/9rMMAmc1G9. Funds are #ROW

— CZ 🔶 Binance (@cz_binance) June 6, 2023

Binance US issuedstatementSaid that user assets are safe, the platform will continue to be fully operational, deposit and withdrawal functions are normal, and the SEC’s filing of a temporary injunction is groundless, more to give SEC staff an advantage in litigation than to really care about customer assets safety.

Binance US mentioned that although the company has submitted information to the SEC staff to ensure the safety of customer assets, the SEC staff still decided to submit a fake seizure motion. Binance US is disappointed with this action and will do its best in court. defend yourself.

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