Binance US, the US branch of Binance, the world's largest cryptocurrency exchange, announced in its official statement that it will delist the BarnBridge (BOND) altcoin.
The decision follows a recent settlement between the Securities and Exchange Commission (SEC) and the founders of the BOND altcoin project.
On December 22, 2023, the SEC published an official statement detailing the agreement made with BarnBridge DAO, a decentralized autonomous organization, and its two founders, Tyler Ward and Troy Murray.
The SEC accused BarnBridge of failing to register the offering and sale of structured crypto asset securities known as SMART Yield securities.
In addition, the SEC had accused participants of operating BarnBridge's SMART Yield pools as unregistered investment companies. To resolve the SEC's charges, BarnBridge agreed to repay approximately $1.5 million in proceeds from the sales. Additionally, Ward and Murray each agreed to pay restitution of $125,000.
*This is not investment advice.
