Did Bam trading mislead Binance investors & equity investors?

According to the SEC’s complaint, BAM Trading and BAM Management misled Binance.US customers and equity investors concerning the existence and adequacy of market surveillance and controls to detect and prevent manipulative trading on the Binance.US platform’s crypto asset trading volumes.

What did the SEC charge Binance?

The SEC charged Binance for the unregistered offers and sales of BNB, BUSD, and crypto-lending products known as “Simple Earn” and “BNB Vault.” Further, the SEC charged BAM Trading with the unregistered offer and sale of Binance.US’ staking-as-a-service program.

Who is liable for Binance & Bam trading registration violations?

The SEC also alleges that Zhao is liable as a control person for Binance’s and BAM Trading’s respective registration violations. UNREGISTERED OFFER AND SALE OF CRYPTO ASSETS The SEC charged Binance for the unregistered offers and sales of BNB, BUSD, and crypto-lending products known as “Simple Earn” and “BNB Vault.”