![]() Juvvadi asked to discuss with Reuters the results of an internal Binance.US investigation into the article's findings, but did not follow up on the offer. ![]() The finance team transferred hundreds of millions of dollars out of the account to a trading firm managed by Zhao, leading Coley to express concern to Binance staff about the outflows, the records and messages showed.Īsked for comment for this article, Binance.US's head of legal Krishna Juvvadi criticized the February piece as containing untrue assertions, including that a Binance finance executive had access to Binance.US's bank accounts. laws, Reuters reported last October, citing people familiar with her exit.Īlthough Binance.US publicly said it operated independently as a partner, Zhao in reality managed the American firm as a de-facto subsidiary and his finance team had access to its bank account, according to banking records and company messages Reuters reviewed for an article in February. In a blog post, Zhao called the CFTC's charges "unexpected and disappointing," adding "we do not agree with the characterization of many of the issues alleged in the complaint."Ĭoley, a former Morgan Stanley trader, left Binance.US in mid-2021 after clashing with Zhao over his control of the American exchange, which was set up to serve U.S. investigations pile pressure on Binance, which dominates the crypto sector as the world's largest digital currency exchange. McDonald's representation of Coley comes as the U.S. Prior to joining the CFTC, McDonald worked in the public corruption unit of the Manhattan U.S. While he was its director of enforcement, the CFTC increasingly worked on investigations in parallel with federal prosecutors. Contacted by Reuters, Binance and Binance.US didn't comment on Coley's representation. The CFTC, DOJ and SEC declined to comment. She has not made any public comments since leaving Binance.US or ever addressed her exit. ![]() McDonald declined to comment and Coley did not respond to multiple messages. The Justice Department and Securities and Exchange Commission have sought records and communications involving Coley from Binance and Binance.US, Reuters has previously reported, citing the governments' written requests. ![]() Reuters could not determine Coley's status in the government investigations or whether she had cooperated. The Justice Department has also been investigating Binance over money laundering and sanctions violations. The CFTC's civil complaint did not name Coley. laws for operating an "illegal" exchange and a "sham" compliance programme. On Monday, the CFTC charged Binance and its chief executive and founder Changpeng Zhao with willful evasion of U.S. His representation of Coley has not been previously reported. investigations, though he appeared as her attorney of record in separate civil litigation against Binance.US in January 2022, court records show. It's unclear when McDonald began representing Coley in the U.S. government's investigations into the giant cryptocurrency exchange, a person with direct knowledge told Reuters.Ĭatherine Coley, who launched Binance.US in 2019 and left suddenly two years later, is being advised by James McDonald, now a partner at New York law firm Sullivan & Cromwell, the person said. subsidiary has enlisted a former federal prosecutor and top cop at the Commodity Futures Trading Commission to represent her in the U.S. March 29 (Reuters) - A former chief executive of Binance's de-facto U.S.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |