District Court of Columbia Summons Binance CEO Changpeng Zhao

• Binance CEO Changpeng Zhao has been subpoenaed by District Court for the District of Columbia.
• The subpoena requires Zhao to respond to the SEC complaint within 21 days.
• The cryptocurrency billionaire said the subpoena was part of the SEC’s original complaint and that he would not be required to appear in person.
• If CZ does not respond, the judge will default against him.

Changpeng Zhao, the man at the helm of the world’s largest cryptocurrency exchange, has been subpoenaed in District Court for the District of Columbia in connection with a lawsuit brought by the U.S. Securities and Exchange Commission.The subpoena is in Zhao and Binance

Sued by securities regulators for violating securities laws by mixing billions of client funds into U.S. entities controlled by Zhao.

Changpeng Zhao will not have to show up in person

according to summons According to the U.S. District Court for the District of Columbia, Zhao Changpeng has 21 days to respond to the complaint filed by the SEC. Fox Business reporter Eleanor Terrett shared the news on Twitter earlier today. If Zhao fails to respond within 21 days, a default judgment will be entered against him. Court documents show Malta is the country of residence of the Binance CEO. Zhao was born in China but has been a Canadian citizen for decades.

I’ve been told this is just part of the SEC compliance process. Nothing new. No FUD required”

Binance Founder and CEO Changpeng Zhao

Changpeng Zhao responded to Tretter’s tweet about the subpoena being issued to him and clarified that the court order does not require him to appear in person. Zhao said the subpoena was part of the SEC’s original complaint and was not new information. He disapproves of the Fear, Uncertainty, and Doubt (FUD) associated with tweets. A subsequent tweet from the Binance CEO stated that Terrett’s tweet was accurate and that the FUD he highlighted was aimed at other rumors on crypto Twitter.