Crypto News

Binance CEO CZ ordered to appear in US court over alleged violations


Washington, DC – In response to the recent complaint filed by the US Securities and Exchange Commission (SEC) against Binance, a summons has been issued for CEO Changpeng Zhao by the United States District Court. The summons, which was issued on June 7th, requires Zhao to respond within 21 days.

The SEC’s complaint, filed two days prior to the summons, alleged violations of US securities laws and raised concerns about the mishandling of customer funds by Binance, one of the world’s largest cryptocurrency exchanges.

Although it is currently unknown whether the summons has been officially served, once it is, the 21-day response period will commence. If Zhao fails to respond, the document states that “judgment by default will be entered against you for the relief demanded in the complaint.”

While Binance has not yet responded to the summons, the company has expressed its intention to contest the SEC’s complaint. In a separate statement, Coinbase, another major cryptocurrency exchange, acknowledged a similar complaint from the SEC but without any allegations of customer fund mismanagement. will continue to monitor the situation and provide updates as more information becomes available.

Creative Mind

Hello Dope SOUL'S, I'm the founder of, a self-taught blogger with a passion for technology. My journey began with a fascination for tech's power to shape our world, leading me to self-learn computer science and engineering. After years as a self-taught software engineer, I realized my true calling lay in sharing knowledge. This inspired, where I provide valuable insights on tech trends, gadgets, and software. As a self-taught blogger, I explore new tech, analyze trends, and offer honest reviews. I believe in demystifying complex subjects for both tech enthusiasts and beginners. Beyond blogging, I actively engage in tech conferences, collaborating with industry pros to ensure my content stays accurate and relevant. is a platform dedicated to sharing knowledge, connecting with the tech community, and helping readers navigate the ever-evolving tech landscape. Thanks for joining this journey. Stay curious and tech-savvy! Best regards, [Creative Mind] Founder,

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