In that case, FTX co-founder Sam Bankman-Fried was charged with violations of securities laws, with the SEC alleging that he commingled FTX customers' funds into a venture he controlled. Learn how you can utilize margin trading with cutting-edge execution and industry-leading security on Binance - the world’s largest cryptocurrency exchange by volume. The charges against Binance echo some of the allegations against another cryptocurrency exchange, FTX Trading. We now join a number of other crypto projects facing similarly misguided actions from the SEC and we will vigorously defend our business and the industry." "We are disappointed that the SEC chose to file a complaint today against Binance seeking, among other remedies, purported emergency relief. Binance’s founder and CEO said the firm’s crypto rescue fund will initially have 1 billion to dole out as it steps into the role of industry white knight. 38 billion 24h trading volume on Binance exchange 350+ Cryptocurrencies listed 150 million Registered users <0. Introducing the Web3 Industry Recovery Initiative Binance and a number of key industry partners have joined together to commit 1B+ to provide financial support to the most promising and highest-quality companies that need it most. Binance Labs' fund is the latest in a string of recently established crypto funds by venture capitalists, with Andreessen Horowitz (a16z) raising 4.5 billion last week to demonstrate confidence. The lawsuit "comes after extensive cooperation and recent good-faith negotiations," Binance said. Binance has announced its Industry Recovery Initiative, a 1 billion fund to help crypto companies in need. In an emailed comment to CBS MoneyWatch, Binance called the SEC's actions "unjustified."
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