Binance CEO Changpeng Zhao denied selling Bitcoin or Binance Coin.
Binance Holdings Ltd. operates the largest cryptocurrency exchange by daily trading volume. In 2017 high-frequency trading developer Changpeng Zhao founded Binance.
Last Friday, the SEC filed 13 accusations against Binance, Zhao, and its independent U.S. exchange operator.
After several meltdowns, including the bankruptcy of Binance’s primary competitor FTX last year, the lawsuits against Binance and Coinbase Global (COIN.O) have sparked concerns that the crypto market’s battle may continue.
Binance Coin dropped 20% after the SEC’s move.
