The Securities and Exchange Commission (SEC) has filed a lawsuit against Binance, the cryptocurrency exchange, Binance.US (BAM), and its CEO Changpeng Zhao (CZ). In response to SEC’s request, the crypto exchange argued in its court filing that complying with the regulator’s demand to interview its executives and conduct further investigations would be burdensome and excessively broad, as there is insufficient evidence to support the allegations of customer fund misuse. Binance, in its response to the lawsuit, stated that “Even after all the discovery currently produced by BAM in the accelerated discovery period, the SEC has been unable to produce any evidence supporting its baseless allegations implying that customer funds were misused. All evidence on this topic (including documents, statements, and sworn testimony of witnesses) supports the fact that BAM did not use customer funds for its own purposes.”