Mysterious self-proclaimed Binance stakeholder “Eeon” seeks to intervene in SEC’s suit against the exchange
Aeon, an individual who claims to represent Binance customers, attempted to participate in an ongoing securities lawsuit involving the exchange on July 14.
Eeon and an affected customer wrote: filing:
“We are a legitimate party in this matter because we are identified as a ‘customer’ in a court order issued on June 17, 2023. We are not just “customers” as we are stakeholders, investors and owners of the cryptocurrencies held by Binance and its subsidiaries, but we feel that our interests were not considered. “
The U.S. Securities and Exchange Commission (SEC) filed a complaint against Binance on June 5. Aeon’s statement refers to the June 17 consent order that the SEC sought to restrict Binance US-related funds. Binance and the SEC later reached a compromise on the matter, but Aeon intends to contest the outcome.
Specifically, Aeon said it opposes the ability of Binance and its subsidiaries to control users’ cryptocurrency keys and block users’ withdrawals. This presumably refers to Binance.US’ decision to ban USD withdrawals around June 13th.
Eeon’s goals are expressed in different ways in different applications. In its motion to intervene, Aeon said the group will only allow Binance.US to resume normal withdrawal functions until the SEC indicates it needs to take other action. The group said it did not want all assets liquidated as it could destabilize the cryptocurrency market.
However, in a second filing and counterclaim, Aeon seeks to fine Binance and the SEC. Eeon is asking these two parties to pay 20% of his daily amount of withheld funds, compounded daily, for a total of $1,000 per customer per day. increase.
in the second documentEeon has accused Binance and its affiliates of theft and fraud, acknowledging that the company blocked withdrawals and refused users’ property due to court orders. Eeon also argues that the SEC cannot represent its customers because it accuses them of misconduct, a clear conflict of interest.
The legal merits are unknown.Binance withdrawals remain suspended
It is unclear whether the application has legal value. Eeon claims in court that he has 30 years of experience. Little other information about the individual behind that name is identifiable only as a Nevada corporation.
The filing also shows a startling lack of professionalism. The authors admit to using excessive exclamation marks and unusual formatting, and running the document through an AI to convert the text into plain language. The author also describes Binance and SEC in offensive terms, calling them both “predator sociopaths” at one point.
In any event, withdrawals on Binance.US remain void, and the company’s website states “No ETA for reopening.” Future court developments may reveal whether the case may be dismissed regardless of the quality of the latest filings.
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