SEC Rips Into Binance.US Over 'Shaky' Asset Custody, Asks Court to Order Inspection

In June, the watchdog sued Binance.US, the exchange’s global parent Binance Holdings and founder Changpeng “CZ” Zhao, alleging they ran an unlicensed securities exchange. The SEC’s findings in the case so far demonstrate „the urgent need for an inspection,“ Monday’s filing said, as the regulator restated its worries about Binance’s use of custody platform Ceffu.