Binance.US interim CEO: SEC's unsubstantiated fraud allegations, USD fiat services will resume within weeks

ChainCatcher news, according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) led by Gary Gensler has called Binance.US a "fraudulent melting pot," and has used its power and influence to cut off the company's relationships with banks and U.S. dollar fiat channels. Binance.US interim CEO Norman Reed stated in an interview with CoinDesk that the SEC failed to provide any evidence to support its allegations in court.

After the SEC filed a lawsuit, Binance.US lost thousands of customers, suffered billions of dollars in losses, and was forced to lay off 70% of its staff.

Binance.US interim CEO Norman Reed said, "U.S. dollar fiat services are expected to be revitalized and put back into operation in the coming weeks; the company is preparing for a comeback, seeking to collaborate with banks, and re-engaging in dialogue with state regulators."