Crypto exchange Binance hires ex-DOJ prosecutor in wake of SEC suit

In the midst of its fight against the U.S. Securities and Exchange Commission, Binance Holdings has hired M. Kendall Day, the former acting deputy assistant attorney general at the Department of Justice, to represent the cryptocurrency exchange in the SEC lawsuit, according to a court filing dated Thursday. The Wall Street regulator on June 5 sued Binance and its CEO Changpeng Zhao with 13 charges , including mishandling customer funds and deceiving investors about the sufficiency of its systems to detect and control manipulative trading. Note that Binance has been probed by the Justice Department, among other U.S. agencies, too, as regulators increasingly aim to get a grip on the emerging space. Day, during his 15-year tenure at the DOJ, was also chief of the agency's Money Laundering and Asset Recovery Section. He now serves as a partner in the Washington D.C. office of Gibson Dunn & Crutcher. More on Binance and the Crypto Clampdown: SEC sues Coinbase for operating as unregistered broker U.S. judge urges Binance, SEC to reach deal over asset freeze Binance.US lays of about 50 people - report Cathie Wood sees Coinbase stake as a bet on clarity in crypto regulation