Class action filed on behalf of users trading UST on Binance US.
Binance US, the US arm of Binance, the world’s largest crypto asset trading platform, has filed a class action lawsuit by Dontzin Nagy & Fleissig and Roche Freedman on behalf of users trading LUNA and UST on the platform. Plaintiffs alleged that Binance.US sold unregistered securities and misled them. The 72-page complaint also alleged that Binance.US had listed and sold UST even though it was not registered as a broker-dealer, which violated US securities laws.
Company spokesperson said in a statement on the subject, “Binance.US is registered by FinCEN and complies with all regulations. (…) These allegations are baseless and we will defend ourselves fiercely.” The spokesperson also told The Block that LUNA was never listed on the Binance.US platform, while UST was removed from the platform last night.
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