- Binance is facing a legal battle with the SEC.
- In preparation for what could be an extended fight, the firm has made several high-profile legal hires.
- The latest hire previously served as acting deputy assistant attorney general of the DOJ’s Criminal Division.
As the legal battle between the United States Securities and Exchange Commission and Binance builds momentum, the crypto exchange and its U.S. arm Binance.US have significantly bolstered their legal ranks in a clear message to the regulator that it has no plans to back down.
The crypto exchange’s legal team already boasts former SEC enforcement chiefs like William McLucas and George Canellos, as reported by DailyCoin over a week ago. Binance, however, might just be getting started as it has hired a former high-ranking prosecutor from the Department of Justice in preparation for an extended fight with the market regulator.
Binance Hires Former DOJ Prosecutor
Per a court filing on Thursday, June 22, M. Kendall Day has registered his appearance as counsel for Binance in its case against the SEC.
Kendall Day is a partner at Gibson, Dunn & Crutcher LLP, with 13 years of experience at the DOJ’s Criminal Division under his belt, where he had a short stint as acting deputy assistant attorney general. Before that, he served as chief of the money laundering and asset recovery section.
At Gibson, Dunn & Crutcher, Kendall Day co-leads the firm’s Financial Institutions Practice Group and Anti-Money Laundering practice. He is also a White Collar Defense and Investigations Practice Group member, per the firm’s website.
Like other recent hires, Binance hopes to leverage the attorney’s extensive experience as a prosecutor to fend off the SEC’s charges. Aside from claims of operating an unregistered securities exchange, the firm is accused of wash trading and mishandling customer funds.
On the Flipside
- A former SEC enforcement chief has argued that the DOJ will bring charges against Binance.
Why This Matter
Binance’s legal hires suggest the firm has no plan to back down from the battle with the SEC.
Read this to learn more about Binance’s star-studded legal team for the SEC case:
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