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BitDegree 2024-03-06 07:34:20

SEC Lawsuit Triggers Major Layoffs and Revenue Decline for Binance.US

Key Takeaways Binance.US has drastically reduced its workforce and faced a severe revenue drop following a SEC Temporary Restraining Order. The company has incurred increased legal and auditing costs, alongside losing crucial banking relationships, complicating fiat transactions. The exchange struggles to find new banking partners, with the industry viewing its situation with caution due to regulatory pressures.

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