Binance.US previously told a DC court it used custody software offered by Binance’s international arm that was later rebranded Ceffu.
That stands in stark contrast to previous statements made by lawyers for the U.S. exchange – identified as BAM in court filings –which said thathad used custody software provided by international arm Binance Holdings Ltd , a program that was later marketed as Ceffu.
BAM “relies on wallet custody software developed by BHL to maintain the digital asset wallets that hold much of its customers’ assets,” said a Sept. 12 court filing by, which is seeking to shake off SEC charges it operated an unregistered crypto exchange, adding that when the company later “learned that BHL was planning to market the software commercially under the name ‘Ceffu,’ it adopted the name as a shorthand reference to the software, including in correspondence with the SEC.
"While BAM referred to the BHL software as 'Ceffu,' it never suggested that it licensed software from any entity other than BHL," the filing by Binance.US added."BAM has been clear that it relies on wallet custody software licensed from BHL in all its correspondence with the SEC and submissions to this Court."
Ceffu – rebranded from Binance Custody in February – last week denied that it had provided services toAn Aug. 3, detected and published by the SEC, suggests Ireland-based Binance Institutional Holdings Limited controls the custodian's trademarks and data and describes a Singaporean entity named Binance Institutional SG Pte as one of its operating arms. References to Binance appear to have been removed in an Aug. 8 website update.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SEC claims Ceffu wallet provider is 'Binance-related' in motion against BAMThe U.S. Securities and Exchange Commission seeks a court order to inspect Binance.US.
Read more »
CZ says Binance.US did not use entity at center of recent SEC allegationsBinance.US has never used Ceffu, Binance CEO Changpeng Zhao said, following accusations from a US regulator that the two are linked.
Read more »
US Judge denies SEC request to inspect Binance.USThe Securities and Exchange Commission (SEC) faced challenges following its partial loss in the Ripple lawsuit. While the agency has been spearheading
Read more »
Binance Is Supposedly Separate From Crypto Custodian Ceffu. The SEC Has QuestionsAs regulators prepare to square off with one of the world’s biggest crypto exchanges in court, Ceffu has denied any ties to Binance or U.S. operations. The reality is murkier.
Read more »
SEC Rips Into Binance.US Over 'Shaky' Asset Custody, Asks Court to Order InspectionThe regulator asked a U.S. court to reject Binance's 'half-hearted' objections to its motion seeking depositions, an inspection and communication from the exchange.
Read more »
SEC accuses Binance of noncooperation, court unseals case documents: Law DecodedThe SEC pushes hard as Binance.US lays off a third of its staff and top executives quit.
Read more »