The world's largest cryptocurrency exchange, Binance, has added a leading criminal defense attorney to its legal team as it faces multiple lawsuits from US regulators.
George Canellos, former chief of the US Attorney General's Major Crimes Division for the Southern District of New York and former head of the SEC New York Office and Co-Director of the Sanctions Division, has joined Binance as a legal adviser, the exchange said.
Canellos has a rare and remarkable combination of competencies, having served as both an SEC attorney and a US Department of Justice attorney. He had participated in high-profile cases involving securities fraud, insider trading, money laundering and sanctions violations. He is also a partner at law firm Milbank LLP, where he co-leads the litigation and arbitration group.
The SEC recently sued Binance for selling unregistered securities in the US and several additional charges. In addition, it was claimed by Bloomberg last month that Binance was investigated by the US Department of Justice and investigated for violating Russian sanctions.
John Reed Stark: "Binance Prepares"
Cryptocurrency exchange Binance's transfer of such a name, which has experience in both the SEC and the US Department of Justice, was interpreted by many names, including former SEC senior official John Reed Stark, that the company is preparing for a major legal battle.
John Reed Stark said in his statement:
“Binance is clearly preparing for a criminal prosecution and continues to recruit the best defense lawyers in the world.”
*Not investment advice.