© Reuters. FILE PHOTO: Changpeng Zhao, CEO of Binance, speaks at the Delta Summit, Malta’s official Blockchain and Digital Innovation event promoting cryptocurrency, in St Julian’s, Malta October 4, 2018. REUTERS/Darrin Zammit Lupi/File Photo
(Reuters) -Cryptocurrency exchange Binance has not sold either bitcoin or , its native token, the company’s CEO Changpeng Zhao tweeted on Tuesday.
Last week, Binance was sued by the U.S. Securities and Exchange Commission, which listed 13 charges against the company, Zhao and the operator of its purportedly independent U.S. exchange.
The lawsuits against Binance and Coinbase (NASDAQ:) Global have increased fears the crypto market’s ordeal could be prolonged further after the sector was battered by a string of meltdowns including the bankruptcy of FTX, Binance’s biggest competitor, last year.
Binance Coin has lost more than 20% in value since the SEC’s action.
Image and article originally from www.investing.com. Read the original article here.