Ongoing Discovery Disputes: SEC Vs Binance Joint Status Report

January 27, 2024

The ongoing legal battle between the Securities and Exchange Commission (SEC) and Binance Holdings Ltd. has revealed ongoing disputes over discovery. The joint status report filed on January 25, 2024, outlines the current status of the case and focuses on discovery-related matters involving BAM Management US Holdings Inc., BAM Trading Services Inc., and Binance. Key points of contention include discrepancies in document production, the need for additional information, disputes over the scope of depositions, and the SEC’s rights for more testimony. Binance and Zhao have not produced any documents since the last status report, and discussions are ongoing regarding depositions of Zhao and other Binance witnesses. The defendants suggest submitting the next status report on February 15, 2024, with the SEC requesting a status hearing shortly after.