Binance Case on Sale Unregistered Tokens

S.D. Florida

Court

1:23-cv-21261

Case number

01 Jun 2023

Lead Plaintiff motion deadline

ANY INVESTOR/USER who suffered losses from buying ANY TOKEN (unregistered securities) on BINANCE can JOIN CASE!

On March 27, 2023, Binance and its CEO Changpeng Zhao faced a lawsuit from the CTFC for allegedly breaking trading and derivatives rules.

The agency said Binance and CZ wilfully ignored registration and compliance requirements under U.S. federal law, despite exploiting key U.S. commercial relationships to earn significant revenue.

According to other reports, Binance listed unregistered securities as cryptocurrencies and paid social media influencers to promote these assets. 
One of the cryptocurrencies considered unregistered security in the case is the Binance token BNB. The BNB burn program makes the asset an unregistered security because it reduces the coin’s supply to boost its value.
The fact of regulators' investigations makes Investors and Clients of the crypto exchanges suspect that their rights could be violated, which could lead to losses for them.

Case Status

Motion to dismiss

Alleged Offence

Mismanagement,

Misleading Statements,

Fraud,

Failure to Disclose,

Price manipulation,

Malpractice,

Negligence,

Breach of Fiduciary duty,

Omissions

Suspected Party

Directors,

Management,

Shareholder,

Influencer,

Service Provider

Security Type

Crypto Asset

Trade Direction

Long

Shock Event Date

01 April 2023

Filing date

31 March 2023

Lead Plaintiff Deadline

01 June 2023

Collecting participants…

BINANCE

Binance is a cryptocurrency exchange platform that combines digital technology and finance. The platform features a portfolio of crypto products and offerings, including trading and finance, educat...

Symbol

BINANCE.FI

Website

https://www.binance.com/