Where is CZ? The SEC asks the court if it can serve Binance CEO Changpeng Zhao’s lawyers in his place due to questions surrounding his whereabouts.
The SEC also asks the court to order Zhao and Binance to promptly provide a “sworn accounting” — essentially a legal disclosure of financial information.
Per the complaint, the SEC has been unable to discern the full extent of the defendants’ assets, the exact whereabouts of investor money, or the status or location of other assets that may be used to satisfy a money judgment against the defendants. Again, the SEC cites the logistical concerns as mitigating factors. The filing states that the request for a sworn accounting stems from “BAM Trading’s inability to provide accurate information” concerning the whereabouts of Zhao or the company’s “location abroad.”
BAM Trading is the organization that oversees Binance.US in partnership with Binance, a setup meant to allow the company to keep its U.S. and other operations separate from one another. Zhao's location remains unknown at the time of publication. He is a Chinese-born Canadian citizen who
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