HomeNewsBinance Enlists Former DOJ Prosecutor to Exterminate SEC and Gary Gensler in...

Binance Enlists Former DOJ Prosecutor to Exterminate SEC and Gary Gensler in Billion Dollar Lawsuit

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  • Binance, the largest cryptocurrency exchange globally, recruits former DOJ prosecutor M. Kendall Day for its defense in the ongoing SEC lawsuit.
  • Binance and its affiliate Binance.US have been fortifying their legal team, recently also hiring former SEC enforcement co-director George Canellos.

Binance Holdings Ltd., the world’s premier cryptocurrency exchange, has enlisted the services of a former Department of Justice (DOJ) white-collar prosecutor to represent them in their ongoing Securities and Exchange Commission (SEC) lawsuit, according to a court filing published Thursday.

M. Kendall Day, currently a partner at the Washington DC office of Gibson Dunn & Crutcher, will counsel Binance in the SEC case. Day previously held a prominent role as acting deputy assistant attorney general at the DOJ’s Criminal Division for a period of 15 years. During his tenure, he notably led the Money Laundering and Asset Recovery Section, assuming national supervision over the DOJ’s anti-money laundering initiatives.

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Day’s responsibilities included dealing with money laundering charges and deferred and non-prosecution agreements involving financial institutions, making him a valuable addition to Binance’s defense team.

In response to recent SEC charges, Binance and its US affiliate, Binance.US, have been amplifying their legal arsenal. The firm recently on-boarded George Canellos, a former co-director of enforcement at the SEC, marking a strategic move in the ongoing legal battle.

The SEC has recently leveled accusations against Binance, CEO Changpeng Zhao, and its associated exchange, Binance.US. Charges include mishandling of customer funds, dissemination of misleading information to investors and regulators, and breaches of securities regulations. The SEC also demands the return of cryptocurrency held by US customers.

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In addition to the SEC, multiple US agencies, including the DOJ, have placed Binance under investigation. Recently, Binance.US reached an agreement with the SEC, which mandates that Binance Global officials be barred from accessing customer funds, a move that CEO Changpeng Zhao publicly expressed relief about on June 17. As legal proceedings continue, the crypto giant remains fortified with a team of seasoned lawyers dedicated to their defense.

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Jane Smith
Jane Smith
As a Bitcoin Journalist, I am dedicated to reporting the latest developments in cryptocurrency, with a particular focus on Bitcoin. Through extensive research and interviews with industry experts, I provide accurate and up-to-date information on the ever-evolving world of cryptocurrencies. My goal is to help readers stay informed and make informed decisions regarding their investments in this rapidly changing field.
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