Binance CEO Changpeng Zhao has disputed a recent report that claimed the executive took a $250-million loan from BAM Management, a firm that acts as Binance.US’ holding company.
On Sept. 19, a report from the media outlet Decrypt interpreted court documents related to a lawsuit between Binance and the United States Securities and Exchange Commission. The report said that Binance.US’ legal team claimed in the documents that BAM Management US Holdings “issued a $250 million convertible note to Zhao in December.” However, Zhao disputed the report and expressed his rebuttal on X (formerly Twitter).
The amount of wrong information is just…
They got the direction wrong. I loaned $250 million to BAM a while back, not the other way around. And have not taken it back. ♂️ pic.twitter.com/encGx1u557
In a post, Zhao shared a screenshot of the report and said that the outlet “got the direction wrong.” According to the Binance CEO, the loan was the other way around. He explained in the X post that he was the one who gave BAM Management $250 million as a loan and claimed that he had not yet taken it back.
The Binance executive also implied in the post that there is a lot of “wrong information” in the report. However, Zhao did not further specify what other details of the report were inaccurate.
Amid its legal battle with Binance, the SEC has claimed repeatedly that it has been struggling to extract information from Binance and Binance.US since the start of the lawsuit. Because of this, the SEC has filed a motion to require Binance to make its executives more available for depositions and hand over detailed information. However, in a recent hearing to discuss the SEC’s motion, a judge said that he wasn’t “inclined to allow the inspection” at the moment.
Jess Phillips has said “there is no place” where violence against women and girls “doesn’t happen” – as a new law is set to make spiking a criminal offence.
Earlier on Friday, the government said spiking will now be its own offence with a possible 10-year prison sentence as part of the Crime and Policing Bill, which will be introduced in parliament next week.
It also announced a nationwide training programme to help workers spot and prevent attacks.
Speaking to Sky News correspondent Ashna Hurynag, the safeguarding minister said that while spiking is already illegal under existing laws, the new classification will simplify reporting the act for victims.
“Spiking is illegal – that isn’t in question, but what victims and campaigners who have tried to use the legislation as it currently is have told us is that it’s unclear,” Ms Phillipssaid.
Image: Spiking will be made a criminal offence, carrying a sentence of up to 10 years. Pic: iStock
UK ‘was never safe’ for women
When asked if the UK is becoming a less safe place for women, the minister for safeguarding and violence against women and girls, said: “I don’t think it’s becoming less safe, if I’m being honest. I think it was never safe.”
Speaking about a rise in coverage, Ms Phillips said: “We have a real opportunity to use that, the sense of feeling [built by campaigners] in the country, to really push forward political change in this space.”
“The reality is that it doesn’t matter whether it’s the House of Commons or any pub in your local high street – there is no place where violence against women and girls doesn’t happen, I’m afraid,” she added.
Spiking is when someone is given drugs or alcohol without them knowing or consenting, either by someone putting something in their drink or using a needle.
Police in England and Wales received 6,732 reports of spiking in the year up to April 2023 – with 957 of those relating to needle spiking.
London’s Metropolitan Police added that reports of spiking had increased by 13% in 2023, with 1,383 allegations.
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November 2024: If you got spiked would you report it?
As part of the nationwide training programme, a £250,000 government-funded scheme was started last week to teach staff how to spot warning signs of spiking crimes, prevent incidents and gather evidence.
It aims to train 10,000 staff at pubs, clubs and bars for free by April this year.
Alex Davies-Jones, minister for victims and violence against women and girls, said in a statement that “no one should feel afraid to go out at night” or “have to take extreme precautions to keep themselves safe when they do”.
“To perpetrators, my message is clear: spiking is vile and illegal and we will stop you,” he said. “To victims or those at risk, we want you to know: the law is on your side. Come forward and help us catch these criminals.”
Colin Mackie, founder of Spike Aware UK, also said the charity is “delighted with the steps being taken by the government to combat spiking”.
He added: “Spiking can happen anywhere, but these new initiatives are the first steps to making it socially unacceptable and we urge anyone that suspects or sees it happening, not to remain silent.”