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id: 656, Created by Stan Vick, Scout
Binance Case on Sale Unregistered Tokens
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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.
Failure to Disclose,
Breach of Fiduciary duty,
Shock Event Date
01 April 2023
31 March 2023
Lead Plaintiff Deadline
01 June 2023