Binance.US interim CEO: The US SEC called it a fraud without any evidence, which is essentially a run

The U.S. Securities and Exchange Commission (SEC), led by Gary Gensler, called Binance.US a "big fraudster" and used its power and influence to cut off the company's relationship with banks and its U.S. dollar fiat channel. However, Norman Reed, interim CEO of Binance.US, said in an interview with CoinDesk that the SEC failed to provide any evidence in court to support its allegations. Norman Reed said that "we can never make up for the damage the SEC has done to the platform. Within two weeks of the lawsuit, we lost thousands of customers, billions of dollars in funds were withdrawn, and later had to lay off 70% of our employees. Institutions and banks have distanced themselves from us because the SEC claimed that we were another fraud company like FTX. It's ironic that a U.S. financial regulator essentially created a run on the company, and that's exactly what they did." (Coindesk)