- blogger says he has spoken to a lawyer of the company
- The exchange can hire all Wall Street agencies for this money
- In comparison, Ripple has allocated “only” $150 million to litigate with the SEC
Writer Ben “BitBoy Crypto” Armstrong says he discussed with a representative of Binance the prospects of litigation with the SEC. According to him, the exchange is “fully prepared” and is ready to allocate for this $1 billion.. The news caused a stream of jokes in the cryptocurrency community.
“I spoke with a lawyer from Binance. They have allocated $1 billion to fight the SEC. In fact, they could have hired all the big law firms at once to defend their interests. Just imagine that Ripple “wiped the floor with them (SEC) for only $150 million,” – said the blogger on his Twitter page.
We note that Binance has not commented on this information in any way. However, there is no reason not to believe BitBoy Crypto, as it is a blogger with a sufficiently large audience, albeit distinguished by somewhat odious antics.
The news caused a flurry of jokes from the audience, for example:
“$1 billion, huh? I wonder how much of that is customer funds?”.
The commenters also mentioned the fact that the SEC chairman had previously offered his services to the company:
“One billion dollars is a hell of a lot. Hiring Gary Gensler as an advisor would have cost them considerably less.”
It is notable that most commentators supported Binance. Recall, the SEC (Securities and Exchange Commission) filed a lawsuit against the exchange, as well as its CEO.Also, the regulator demanded to freeze the assets of Changpen Zhao and the American division of the exchange. Presumably, the meeting on this issue will be held today, June 9.