Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
"Fortune": Binance.US laid off 2/3 of its employees after the US SEC lawsuit, and revenue plummeted by 75%

"Fortune": Binance.US laid off 2/3 of its employees after the US SEC lawsuit, and revenue plummeted by 75%

CointimeCointime2024/03/06 00:08
By:Cointime

The US Securities and Exchange Commission (SEC) previously filed a lawsuit against Binance. In a court document from December of last year released on Tuesday, Binance.US Chief Operating Officer Christopher Blodgett revealed that due to the SEC's actions, Binance.US has had to lay off more than 200 employees since June of last year, equivalent to two-thirds of its total workforce.

"Trading volume and overall business of Binance.US have collapsed," said Christopher Blodgett in his testimony, pointing out that the platform's revenue has dropped by about 75% since the SEC sought a freeze on assets in June of last year.

A Binance.US spokesperson did not immediately respond to a request for comment.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Chinese Analyst Assesses Ethereum’s Status, Says “Whales Have Run Out of Purchasing Power” – Here’s What He Expects

Chinese cryptocurrency analyst phenomenon Murphy evaluated the latest status of Ethereum in his statement. Here are the details.

Bitcoinsistemi2025/03/16 16:00

Skipped Bitcoin Cash? Qubetics ($TICS) Could Be Your Redemption Ticket – Top Cryptos for Significant Returns

The crypto market has been on fire lately. With the spotlight shifting to new and innovative blockchain projects, everyone’s eyes are on which cryptos will make waves this year.Bitcoin Cash: A Missed Opportunity for Significant ReturnsQubetics: Revolutionizing Digital Finance with Real-World Asset TokenizationConclusion: Time to Act on Qubetics

Coinomedia2025/03/16 14:33

BTC Short Position by ETH Whale Nears $332M

A crypto whale boosts their BTC short position to $332M, facing losses and potential short squeeze risk.Whale Boosts BTC Short Position Amid Market VolatilityRisk of Liquidation LoomsStrategic Buy Orders Placed

Coinomedia2025/03/16 14:33

Pakistan Launches Crypto Council Led by Finance Minister

Pakistan forms Crypto Council to boost blockchain and crypto adoption, chaired by Finance Minister Muhammad Aurangzeb.Pakistan Takes a Bold Step Toward Crypto AdoptionFinance Minister to Lead the InitiativeFocus on Innovation and Financial Inclusion

Coinomedia2025/03/16 14:33