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Observers should soon get a look at some of inaccessible documents in the United States Securities and Exchange Commissions (SEC) case against Binance. The documents were sealed or redacted at the SECs request and are being unsealed at the request of the SEC itself.

District of Columbia District Court Magistrate Judge Zia Faruqui issued an order Sept. 15 granting the SECs motion to unseal or remove the redaction from the documents. The order lists 18 sealed documents and another nine partially sealed or redacted documents.

Binance and any nonparty that claims a confidentiality designation regarding documents relating to the SECs Motion to Compel will be able to argue against the unsealing for seven days, and the SEC will have seven days to respond to those claims.

All of the sealed documents, filed as docket no. 102, were filed on Aug. 28. There was speculation at the timethat they were connected with a U.S. Justice Department investigation of Binance. The partially sealed documents total 117 pages. Among them are internal Binance.US documents, emails and SEC court filings, including the memorandum on Binace.US compliance with SEC discovery efforts filed Sept. 14.

Related: Binance.US not cooperating with investigation, US SEC says in filing

The list in Faruquis order does not encompass all the sealed documents filed in the case. A proposed order filed by BAM, the Binance.US holding company, on Sept. 11, along with the SECs opposition document and eight exhibits, were filed as sealed and are not mentioned in the order.

The SEC case against Binance.US, Binance and CEO Changpeng Zhao was initiated in June and revolves around claims of unregistered securities operations and other improprieties, including wash sales. Binance.USrequested a protective order against the SEC in August.

Magazine: Cleaning up crypto: How much enforcement is too much?

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SEC reverses decision on sealing, redacting some documents in Binance.US case - Cointelegraph

The United States Securities and Exchange Commission (SEC) has accused Binance.US of non-cooperation in the ongoing investigation against the crypto exchange, according to a court filing dated Sept. 14.

The SEC in its court filing noted that Binance.USs holding company called BAM has produced only 220 documents during the discovery process. Many of the submitted documents under the Consent Order consist of unintelligible screenshots and documents without dates or signatures.

SEC added that BAM has refused to produce essential witnesses for deposition, instead agreeing only to four depositions of witnesses it has unilaterally deemed appropriate and said:

The SEC also raised concerns over Binance.US's use of Ceffu, wallet custody software provided by the global entity Binance Holdings Ltd. The SEC noted that BAM made inconsistent statements about Ceffus and Binances involvement in the wallet and customer funds management.

SEC said that BAM first claimed Ceffu was BAMs wallet custody software and services provider but later stated that Binance was BAMs wallet custody software provider. The regulators raised concern that the crypto exchange's usage of Ceffu violates a prior agreement meant to prevent funds from being diverted abroad.

Related: Binance plans new round of layoffs amid increased regulatory scrutiny

The SEC filed a lawsuit against Binance on June 5, pressing 13 charges against the crypto exchange including unregistered securities offerings, the Simple Earn and BNB Vault products, and its staking program. The SEC claimed that Binance.com, Binance.US, and BAM Trading should have registered as clearing agencies, broker-dealers, and exchanges, respectively. The unregistered offer and sale of Binance.US' staking-as-a-service programme required BAM Trading to register as a broker-dealer as well.

The latest accusations by the SEC against Binance.US come amid an internal crisis at the exchange. The Binance.US CEO Brian Shorder joined the long list of top Binance executives leaving the firm this year followed by the resignation of the head of legal and the exchanges chief risk officer within days.

Binance.US didnt immediately respond to requests for comments.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Magazine: US and China try to crush Binance, SBFs $40M bribe claim: Asia Express

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Binance.US not cooperating with investigation, US SEC says in filing - Cointelegraph

The crypto market is preparing for a volatile week, filled with major events that have the potential to shift investor sentiment and alter price trends. From the Federal Reserves much-anticipated interest rate decision to the Federal Open Market Committee (FOMC) meeting and the hearing of the legal battle between Binance and the U.S. Securities and Exchange Commission (SEC), all eyes are on these crucial developments next week.

FOMC Meeting: Will the Fed hike interest rates again in 2023? After ten straight increases and a pause in June, rates rose by 25 basis points in July to 5.25-5.50%. The decision hinges on U.S. CPI data, especially core inflation. Augusts CPI rose 3.7% year-on-year, up from Julys 3.2%, while Core CPI was 4.3%, down from 4.7% in July, leaving the Fed and markets uncertain.

When Federal Reserve Chairman Jerome Powell and his team convene next week, they are unlikely to indicate that theyre finished with interest rate hikes. Given that inflation remains above the 2% goal and the economy is robust, U.S. central bankers are expected to maintain a leaning towards stricter policy during their September 19-20 meeting, even if they keep rates unchanged.

Last weeks CPI data failed to bring any significant volatility to Bitcoin. Nonetheless, Fed interest rate announcements are expected to induce a 1% market volatility based on recent trends. At the moment, Bitcoin is trading in the $26K range, comfortably above bearish levels.

Binance Vs. SEC Hearing: A key event on the horizon for next week is the court hearing between Binance and the SEC. A ruling in favor of the SEC could lead to a significant market sell-off, while a decision supporting Binance could ignite a buying demand.

The U.S. SEC recently presented evidence against Binance U.S., highlighting the exchanges non-compliance with a prior consent order. Binance U.S. has countered, claiming the SECs demands in an emergency order are unwarranted.

Last month, the SEC filed confidential documents that caused unrest in the crypto market. Theyve now submitted a motion to unseal to reveal these papers. Amidst the ongoing lawsuit, several officials from Binance and Binance U.S. have departed, affecting investor confidence and trading volumes.

The SEC has submitted 31 exhibits to support its motion to compel and oppose Binance U.S.s request for a protective order. Only 10 of these 31 exhibits were included in the latest filings. The SEC is also asking the court to reject BAMs plea for a protective injunction. Magistrate Judge Faruqui has scheduled the next hearing for September 18.

On September 15, the SEC moved to unseal or withdraw its previous motion to seal documents related to the Binance case. Both parties have agreed to disclose numerous SEC filings from last month. The SEC has expressed concerns that Binance U.S. (BAM Management and BAM Trading) is not adequately separating its wallets, systems, and personnel from Binance.

If the SEC wins the case, which is expected to extend beyond Genslers term, Binance could face hefty fines, operational restrictions, and strict oversight of its BNB token. Additionally, CZ could be permanently banned from running financial firms. With the SEC alleging that Binance U.S. is jeopardizing $2.2 billion of presumably U.S.-based funds, these assets could be seized if linked to illegal activities.

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Crucial Week Ahead for Crypto: Feds Interest Rate Decision, FOMC Meeting, And Binance Vs. SEC Hearing To Capture Attention - Coinpedia Fintech News

COLOMBO, Sri Lanka, Sept. 14, 2023 /PRNewswire/ --Binance, the world's leading blockchain ecosystem and cryptocurrency infrastructure provider, has kicked off its 2023 Referral League campaign, giving users a chance to earn up to 30,000 worth of rewards in USDT.

Both existing and new users who have completed their Know Your Customer (KYC) verificationare eligible to participate in the campaign, giving them the opportunity to earn rewards when they successfully refer their friends to register for an account.

Existing users will share a prize pool of up to 16,000 USDT, with a higher reward opportunity depending on their band of successful referrals. For instance, existing users who have made 20 or more referrals can receive a bonus equivalent to $6 for each referral.

New users will receive opportunities to earn rewards worth 14,000 USDT. 1500 new users who have successfully completed their KYC may stand a chance to receive a 8 USDT token voucher. In addition, 200 new users who completed their first trade in Spot may stand a chance to be rewarded with a token voucher of 10 USDT each. Users can also buy their first crypto (USDT or BTC) using the seamless P2P product from Binance.

Rachel Conlan, Chief Marketing Officer at Binance, said: "Binance has always prioritized the cultivation of community among our valued customers. In the spirit of this commitment, our 2023 Referral League campaign serves as an opportunity to express our gratitude to those who have steadfastly supported us, while also serving as a welcoming gateway for newcomers seeking to embark on their crypto journey. As a user-focused organization, we remain committed to providing a convenient, safe and secure platform for all users who are looking to trade."

The 2023 Referral League campaign has been open from 8 September 2023 and is set to run till 23 September 2023, giving participants ample time to take advantage of this special program. To find out more about the referral campaign in detail, users can visit this page.

SOURCE Binance

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Binance to Give Away up to $30000 Worth of Rewards in 2023 ... - PR Newswire

Polygon (MATIC) has been making headlines recently due to its delisting from the Binance exchange, a move that has left many investors wondering about its future. This article will explore what might be next for MATIC and provide insights into the price predictions for ApeCoin (APE) and Everlodge (ELDG), two other tokens gaining traction in the crypto market.

Polygon (MATIC) is an L2 scaling solution for Ethereum. Despite its solid fundamentals and previous successes, Polygon recently faced a setback as Binance decided to delist the Polygon Network from its NFT Marketplace. This move led to a significant drop in the price of the Polygon crypto, causing concerns among its investors.

The delisting from Binance has undoubtedly created short-term turbulence for Polygon. However, it's essential to remember that the fundamentals of the Polygon network remain intact. The ecosystem continues to grow, and Polygon is actively working on enhancing its capabilities.

In the long run, this setback could allow Polygon to diversify its exchange listings, further decentralizing its presence in the crypto market. Therefore, market analysts predict that the Polygon price may reach $0.87 by December 2023.

ApeCoin (APE) is another cryptocurrency that has gained attention recently. As investors look for alternatives amidst MATIC's delisting, ApeCoin has the potential to become a beneficiary of this shift. ApeCoin is associated with the NFT space, making it an attractive option for those exploring non-fungible tokens and related projects.

In recent ApeCoin news, the DAO is weighing in on four new proposals that will help expand its ecosystem. This level of involvement from token holders can foster a sense of trust and engagement, potentially driving the project's growth and development.

As ApeCoin continues to evolve and expand its ecosystem, investors may find value in its community-driven nature. As a result, experts forecast that the ApeCoin price will sit between $2.05 and $2.32 within Q4 of 2023.

Everlodge (ELDG) is a unique project aiming to disrupt the real estate market. With its innovative approach to property ownership and rewards through the Everlodge Rewards Club, ELDG offers a fresh perspective on how blockchain technology can reshape the real estate industry.

This soon-to-come property marketplace will digitize and mint luxurious properties into NFTs. Afterward, these NFTs are fractionalized. Therefore, any investor can enter the $280T real estate market, which was only available to the wealthy few. They can do this by buying a fraction of the NFT for prices as low as $100.

The Everlodge Rewards Club is a compelling feature that adds significant value to the Everlodge ecosystem. It offers users the opportunity to earn free nightly stays across all Everlodge. However, these stays can also be resold to generate another passive income stream.

Those looking to access this club are buying its native token - ELDG, which is now in Stage 2 of its presale. One token costs only $0.016 - a 60% rise from its starting price. But, thanks to its low market cap, ELDG may soar faster than Polygon and ApeCoin. In fact, experts foresee its value rallying by 280% before the presale is over.

Disclaimer: This article is a paid publication and does not have journalistic/ editorial involvement of Hindustan Times. Hindustan Times does not endorse/ subscribe to the contents of the article/advertisement and/or views expressed herein. The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the views, opinions, announcements, declarations, affirmations etc., stated/featured in same. The decision to read hereinafter is purely a matter of choice and shall be construed as an express undertaking/guarantee in favour of Hindustan Times of being absolved from any/ all potential legal action, or enforceable claims. The content may be for information and awareness purposes and does not constitute a financial advice.

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What's Next for Polygon (MATIC) After Binance Delisting? ApeCoin (APE) and Everlodge (ELDG) Price Prediction | Mint - Mint