Binance CEO warns employees about private 'ranting' that could show up in court
Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Binance CEO Changpeng 'CZ' Zhao warned employees in an internal memo to mind their words — lest they end up in court for the world to see.
"Binance collaborates with investigators. The first thing they usually ask for is our chat logs. Anything you say can/will show up in a courtroom one day," Zhao wrote in a memo firstZhao referenced one that quoted now infamous chat logs cited by the U.S. Securities and Exchange Commission in a lawsuit it brought against crypto exchange earlier this week."While this is just two guys ranting 'privately' 5 years ago, this is extremely damaging to our reputation," Zhao said. The comment referenced came from an employee who allegedly had said that"we are operating as a fking unlicensed securities exchange in the USA bro.
SEC Chair Gary Gensler said the agency has internal communications that allegedly show Binance executives knowingly broke the law. He some of it in a Thursday speech. Zhao said it was"outrageous" that the SEC had been using some of the comments.© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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