The U.S. SEC rejected the various arguments made by Binance, stating in its response to the exchange's motion that "no court has adopted Defendants' tortured interpretation of the law."
The latest ruling by Judge Zia Faruqui gave Binance.US seven days to provide the Court with any legal basis for maintaining any documents under seal in whole or in part.
Apart from the departure of another of its execs, CEO Brian Shroder, Binance.US slashed one-third of its staff, stressing that the move will give it over seven years of financial runway.
Despite the SEC's lengthy list of charges against Binance, BAM Trading argued that the regulator has yet to find solid evidence that could prove the exchange's alleged criminal activities.
