Binance Holdings Ltd., the leading cryptocurrency exchange globally, has made a notable addition to its team by bringing M. Kendall Day, an experienced white-collar prosecutor from the Department of Justice, onboard. This strategic move comes at a crucial time as Binance continues to face challenges from regulatory bodies in the industry.
As revealed in a recently released filing, M. Kendall Day has been appointed as a legal representative for Binance in the ongoing Securities and Exchange Commission (SEC) lawsuit, according to the media outlet Bloomberg.
According to the Biography featured on the Gibson Dunn website, Day is presently employed as a partner at Gibson Dunn & Crutcher’s Washington, DC, office. Prior to his current role, Day served as the acting deputy assistant attorney general at the Criminal Division of the Department of Justice for a period of 15 years.
Throughout his time at the Department of Justice (DOJ), Day played the crucial role of chief within the Money Laundering and Asset Recovery Section. This position granted him extensive jurisdiction across the nation, overseeing the department’s anti-money laundering endeavors.
In a move aimed at strengthening its legal defense team, Binance U.S. has recently appointed George Canellos, a former enforcement official at the U.S. Securities and Exchange Commission (SEC). This strategic hiring comes at a time when the company is facing allegations of operating as an unregistered securities exchange.
Following a lawsuit filed by the SEC against Binance and its CEO Changpeng Zhao, a significant development has taken place with the hiring of legal professionals. The lawsuit alleges multiple violations, including the failure to register as an exchange, mishandling customer funds, providing misleading information to investors and regulators, and violating securities regulations.
Also read: Binance.US Resolves USD Withdrawal Problems
