Binance Responds To Demand to Freeze The Fund Of its Subsidiary BinanceUS
Hello friends, after the SEC lawsuit against binance, the CEO Changpeng Zhao clarified on his twitter account that if the lawsuit were to proceed, this would only affect the subsidiary Binance US and not the main platform where most of the investment is located. According to Zhao, they have a fund in case something like this were to happen.
Binance had already created the Secure Asset Fund for Users (SAFU) a long time ago with the intention of protecting the investment of its users, on this occasion Binance has sufficient funds if the lawsuit were to proceed against the subsidiary
If we analyze the current situation of the most famous exchanges in the world, deposits and withdrawals are working normally, only the users who were frightened by the news were those who have withdrawn their funds from both the subsidiary and the main platform, letting themselves be carried away by the news.
What BinanceUS alleges in its twitter account makes sense, the SEC does not care about the users' money, they only want to exercise their authority on North American soil despite the fact that they claim to have provided valuable information about the security of their users' funds, the SEC he turned a blind eye and attacked Binance and demanded the withholding of funds from his subsidiary.
If we don't get out of the subject a bit and take a look at the market, it has been recovering little by little since the whales are making their move taking advantage of the chaos that the news caused and bitcoin is above 26.4k when the day of yesterday it reached 25.5k dollars.
When we thought that the bitcoin price was going to make a correction and then start a bull rally, news like this came out and it ruined everything, I don't know what the SEC was up to, maybe this is to manipulate the market or it simply wants to put an end to the cryptocurrencies still do not know what the real purpose of everything is, what is known is that they have declared war on exchanges that operate on US soil.
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