Entity Representing Binance Customers Seeks Compensation

Mysterious entity called Eeon seeks compensation from Binance and the US SEC equal to 20% of the daily value of funds withheld per customer , totaling $1,000 per day.

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A third-party entity called Eeon has intervened in the US Securities and Exchange Commission (SEC) lawsuit against crypto exchange Binance.

As noted in the filing with the United States District Court for the District of Columbia, Eeon claims that the SEC and Binance attorneys failed to adequately represent the interests of the exchange's customers, which led Eeon to seek to represent them.< /p>

In the filing, Eeon claimed:

“We are the appropriate parties involved in this matter, as the Court identified us as “clients” in its order of June 17, 2023. We are not ordinary clients; rather, we are stakeholders, investors, and owners of cryptocurrency held by Binance and its affiliates. We firmly believe that our interests have not been sufficiently taken into account.“

Eeon asserts that cryptocurrencies should be viewed as commodities, not securities, as they are primarily used for personal and household purposes rather than business purposes. Additionally, Eeon points to the lack of specific regulation for cryptocurrencies, which consequently limits the SEC's jurisdiction over assets.

Eeon claims that Binance controls customers' crypto assets by blocking access and withdrawals without notice. He argues that the SEC's actions have made investors worse off rather than safeguarding their interests, accusing it of falsely accusing clients of money laundering. Eeon is seeking a court order to grant clients access to their frozen holdings on Binance platforms.