Binance.US lays off about 50 people - report

Binance.US has recently conducted a round of layoffs, with about 50 people dismissed. Employees in Binance.US legal, compliance, and risk departments were let go, according to a Reuters report , which cited people familiar and social media posts. Reuters couldn't independently verify the number or seniority of employees impacted by the layoffs. A Binance.US spokesperson didn't respond to Reuters request for comment. The cuts come as the U.S. Securities and Exchange Commission sued Binance and its CEO, Changpeng Zhao, alleging that the platform violated the country's securities rules, mishandled customer funds, and misled investors. The regulator also wants to freeze billions of dollars of Binance.US's assets, a move that Binance claimed would cripple the company as it wouldn't be able to pay employees, vendors, and suppliers or maintain the platform. More on the Crypto Clampdown U.S. judge urges Binance, SEC to reach deal over asset freeze - report Two senators want DOJ to probe whether crypto giant Binance lied to lawmakers - report Crypto exchange Bybit exits Canadian market, following in Binance's footsteps Coinbase willing to take fight with SEC to the Supreme Court - report Binance: The SEC Strikes (Again)