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