Defendants Binance, Binance.US, and co-founder Changpeng “CZ” Zhao have filed a joint response to plaintiff U.S. Securities and Exchange Commission (SEC) trying to emphasize the relevance of default judgment in Coinbase insider trading case SEC v. Wahi in the Binance lawsuit.
Binance Response to US SEC’s Supplemental Authority
In a court filing late March 8, Binance Holdings submitted a response to the U.S. SEC’s notice of supplemental authority. Binance attorneys said the Wahi default judgment came in response to no opposition by defendant Sameer Ramani in the Coinbase insider trading case and the decision simply recited the SEC’s statutory arguments.
Moreover, Judge Torres’ decision in SEC v Ripple Labs was not mentioned in the Wahi case. Judge Torres rejected the SEC’s claim that blind sales of crypto tokens are “investment contracts”. Wahi case also…
