The SEC said they filed against Binance, Binance.US, and CZ himself.

If it was just Binance.US by itself then I would agree.

One of the charges is that Binance and Binance.US comingled funds so that allows the SEC to crawl up their butt to a way further extreme.

All that said, . . . who knows wtf will happen but it's sure to be one hell of a show.