Binance.US faces class-action lawsuit over LUNA and UST sale

Binance.US faces class-action lawsuit over LUNA and UST sale


Binance.US, the sister company of global cryptocurrency exchange Binance, is facing a class-action lawsuit from investors for the sale of LUNA and TerraUSD (UST).

A group of investors filed a class-action lawsuit in the Northern District of California on Monday, alleging that Binance sold unregistered securities in the form of LUNA and UST to investors and mislead them into buying them.

The lawsuit was filed by law firms Roche Freedman and Dontzin Nagy & Fleissig on behalf of several investors who lost their money during the recent LUNA and UST spiral collapse.

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The lawsuit alleged that Binance.US is not registered as a broker-dealer in the United States and thus clearly violates U.S. securities laws. The plaintiffs in the case accused the crypto exchange of knowingly promoting a flawed

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