The US Securities and Exchange Commission (SEC) stated that the recent $4.3 billion settlement agreement between Binance Holdings Ltd. and the US Department of Justice is a support for its lawsuit against Binance, as reported by Bloomberg. Although the SEC did not participate in the settlement agreement, Binance and Changpeng Zhao had previously requested the court to dismiss the SEC's lawsuit. Both Binance and Changpeng Zhao have not commented on this statement.

Former CEO of Binance, CZ, has hired former federal prosecutor Matthew Diggs, who has extensive experience in white-collar crime, as his lawyer. Diggs is known for his expertise in handling complex legal cases, and his task is to defend CZ against possible charges that could result in 10 years of imprisonment.

Binance.US stated that CZ resigned as chairman and transferred his voting rights through proxies.

BitMEX co-founder Arthur Hayes wrote that the US government's treatment of CZ and Binance is absurd, highlighting the arbitrariness of national punishment. This absurd phenomenon tells us that cryptocurrency is one of the most important political, financial, and technological developments in human civilization history. It has such a powerful transformative power that in less than a decade, CZ can become one of the richest people in the world, and Binance can be more necessary for daily life than famous financial institutions that have existed for centuries. Hayes also said that since the US dollar is the largest financing currency in the world, if the credit price falls, all fixed supply assets such as Bitcoin and gold will rise in US dollar legal price. An important part of this bullish macro support is that it does not require Chinese companies and high net worth individuals to buy any Bitcoin. The interchangeability of global legal credit will determine the marginal legal dollar flowing into hard currency assets such as Bitcoin.

CZ posted on X platform stating that they have been reading about biotechnology and thinking about how to use encryption technology to speed up research funding in the field of biotechnology.

Former Director of the SEC Internet Enforcement Office John Reed Stark wrote on X platform, giving CZ some advice: If you can't stand the punishment, don't commit the crime, don't do it. If you can't afford the price, don't take your chances. If there is no reward on your head, don't go to sleep. Don't step your feet onto a dead-end street.

According to the US Securities and Exchange Commission (SEC), they are still looking for evidence to determine whether Binance and its founder CZ have a backdoor to control assets stored on the Binance.US platform.

November 28th, citing the latest court documents, the US Department of Justice does not want to detain CZ before the verdict and stated that CZ's "flight risk is controllable."

Court documents from the Western District of Washington federal court in the United States show that Changpeng Zhao may face a sentence of up to 18 months to ten years for his involvement in criminal activities. Despite being a billionaire and living in the United Arab Emirates, which does not extradite its citizens, he voluntarily went to the United States to stand trial. The government recommended bail before sentencing, but believed he still posed a flight risk and needed to be restricted during his stay in the United States to prevent him from returning to the United Arab Emirates. The government pointed out that Changpeng Zhao had no connection to the United States, and that his family and wealth were in the United Arab Emirates, so he had a motive to evade US law. The government requested that the court require Changpeng Zhao to stay in the United States during the period between his guilty plea and sentencing.

In documents submitted on November 24th, US prosecutors indicated that they may seek a statutory maximum sentence of 10 years in prison for former Binance CEO Zhao Changpeng (CZ), which could exceed the sentencing guidelines. The documents were submitted in response to CZ's motion to oppose the US government's detention of him. The prosecutors stated that the upper limit of the sentencing guidelines could be as high as 18 months, and the US could freely assert any statutory maximum sentence of up to 10 years. Former head of the SEC Enforcement Division, John Reed Stark, stated that this is the first time that prosecutors have explicitly and clearly stated that they may seek a maximum sentence of 10 years. A DOJ lawyer supporting the detention of CZ stated that the punishment he faces in sentencing is undoubtedly significant to him, which "helps to reasonably restrict" him.