I’m not sure the SEC is going to succeed against BinanceUS, says Professor Alexander
Professor Carol Alexander shared her opinion and explained why there are very few chances for the SEC body to win against BinanceUS.
Carol Alexander is a popular British professor, consultant, researcher, and author in the fields of mathematics, finance, and economics. At present, she is a Professor of Finance at the University of Sussex. She is also known for her best-selling book “Market Risk Analysis”.
On 12 June 2023, Carol Alexander appeared in an interview with CNBC and there she shared her views on the current position of the United States Securities Exchange Commission (SEC) against Crypto firms.
Professor Alexander said that there are huge chances that the SEC body may fail to win the case against Binance as well as against San Francisco’s headquartered blockchain firm Ripple (XRP).
According to Alexander, the financial position of the SEC body is not much better than Binance, so Binance will be able to handle the case more perfectly than the SEC lawyers.
On CNBC’s “Squawk Box Europe”, Professor admitted that crypto can be misused by bad actors at a very big level but at the same time, she said that the future of digital financial services will not be possible without this innovative sector. Indirectly she said that there is a need of proper crypto regulatory framework, to keep innovations alive & bad actors away.
SEC vs Crypto firms
In the last week, the SEC agency sued Coinbase, Binance, Binance subsidiary BinanceUS, & Binance CEO Changpeng Zhao (CZ).
Since Dec 2020, the SEC body is fully focusing on the Ripple (XRP) to win the case.
In the present time, the SEC body is not standing in a good position against Ripple, in the XRP lawsuit & allegedly trying unethical ways to manipulate the case, so that the SEC body can win the case against Ripple in any situation.
Ripple’s majority of revenue comes from non-US customers, while Coinbase & BinanceUS are dependent on US customers mainly for their revenue.
Following the lawsuit action, Coinbase, Binance & its subsidiaries saw a total outflow of $4 billion in funds which means their earnings will plunge significantly & further may impact their position in the lawsuit against the SEC agency.
Read also: House Republicans introduce a bill to fire current SEC chairman Gensler
