SEC has charged Binance with 13 different offenses, including operating an unlicensed securities exchange. https://www.reuters.com/markets/us/highlights-sec-complaint-against-crypto-exchange-binance-2023-06-05/

Resolves YES if the SEC wins any of the 13 charges it filed against Binance, or if Binance settles with terms that indicate a substantial concession, for example, a payout greater than $10 million and an agreement to not sell to US consumers, or something.