Former Binance US CEOs Play Key Role in SEC Lawsuit; Here's Why
Ex CEOs Testifies Against Binance.US Former Binance.US CEOs, Catherine Coley and Brian Brooks, who have impressive backgrounds in the finance and crypto industry, played significant roles in the SEC’s lawsuit against Binance. Coley, a former Morgan Stanley executive and head of institutional liquidity at Ripple Labs, and Brooks is a former Coinbase legal chief and acting head of the Office of the Comptroller of the Currency. advertisement They departed from Binance.US in 2021 following disputes with Binance’s CEO, Changpeng Zhao, regarding his control over Binance.US operations. The SEC’s complaint relies on their testimony to support allegations of faked trading volumes, wash trading, commingling of funds, and a lack of separation between Binance.US and its parent company. Read CoinGape’s Lawsuit Coverage.. The SEC complaint revealed that “BAM Trading,” the entity behind Binance .US, was established as part of a plan to evad...