SEC claims Ceffu wallet provider is ‘Binance-related’ in motion against BAM

The securities regulator claims that “Ceffu” is a Binance entity and not merely a digital asset wallet provider.

In its latest filing regarding its motion to compel against BAM, the holding company for Binance.US, the United States Securities and Exchange Commission (SEC) has claimed that Ceffu, a wallet provider, is indeed “Binance-related.” This is in contradiction to claims made by Binance in earlier court documents.

The redacted filing argues again that Binance’s request for a protective order against the SEC investigation is meritless. It calls for the court to deny that request. Binance made the request in the Dsictrict of Columbia District Court on Aug. 15, calling the SEC investigation a “fishing expedition.” In its latest filing, the SEC called Binance’s response to its June suit “a house of mirrors.”

The SEC raised questions about Ceffu in a memorandum filed in the court on Sept. 14, saying the company, which was rebranded from Binance in March, “appears to have control of Customer Assets.” 

This is a developing story, and further information will be added as it becomes available.