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Adam Cochran said that in a series of evidence accompanying the SEC lawsuit against Binance, the agency relied on the private opinion of exchange employees and transcripts of their chat recordings.
Crypto investor and venture partnerCinneamhain Ventures (CEHV) Adam Cochran tweeted his observations that the US Securities and Exchange Commission (SEC) may use the private correspondence of Binance employees in the collection of evidence.
Cochran did not disclose how the transcripts of official chats came into the possession of the SEC, but expressed concern that this information could be interpreted by the court against Binance.
According to Cochran, the SEC submitted to the courta transcript of a conversation that talks about unblocking transactions for US users. Exchange employees discussed how to proceed so that users from the United States could use foreign KYC, and the system ignored their IP addresses.
In addition, in his tweets, Cochran citespart of the correspondence of high-ranking Binance employees who discussed the causes and consequences of the fall of the BNB exchange’s own crypto asset, as well as the possibility of circumventing the prohibitive measures of US regulators to work without a license.
Commenting on the leak of proprietary information and Cochran's series of tweets, Binance CEO Chanpen Zhao addressed the staff and asked them to be discreet in personal correspondence.
“I want to remind everyone that Binance is collaboratingwith the investigation, and, as a rule, the investigating authorities request the history of our chat. So remember that whatever you say may someday end up in court. It's ridiculous for the SEC to use this information as an argument, but let our lawyers take care of it. More importantly, if you are not satisfied with your job at Binance, you should talk to your manager and seriously consider your future career options. Don't waste your energy and your life on things you don't like," Zhao wrote.
Earlier, SEC Chairman Gary Gensler compared the cryptocurrency market to the stock market of the 1920s, teeming with scammers and manipulators.