Binance, CZ en 3 influencers genoemd in $1B-rechtszaak

• Binance, Changpeng Zhao en drie influencers zijn genoemd in een rechtszaak van $1 miljard waarin wordt beweerd dat ze zich bezighielden met het promoten van niet-geregistreerde effecten.
• Het advocatenkantoor Moscowitz en Boies Schiller Flexner hebben de rechtszaak aangespannen in het zuidelijke district van Florida en eisen schadevergoeding voor drie investeerders.
• De drie influencers die in de Binance-rechtszaak worden genoemd, zijn NBA Miami Heat-ster Jimmy Butler en YouTubers Graham Stephan en Ben Armstrong (BitBoy Crypto).
• “We’ve been investigating these same unregistered security issues against Binance for over a year,” said the lawsuit.

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Binance, the world’s largest crypto exchange by spot trading volume, has been the center of many lawsuits amid increasing regulatory pressure in the US. Interestingly, the exchange has also faced pressure to discontinue the minting of its stablecoin, BUSD. As per a report, the crypto exchange along with its CEO and co-founder, Changpeng Zhao, also known as CZ in the crypto space, along with three other influencers have been named in a $1 billion lawsuit. 

Volgens een rapport van Fortuin, het advocatenkantoor Moscowitz en Boies Schiller Flexner hebben de rechtszaak aangespannen tegen Binance, CZ en drie influencers in het zuidelijke district van Florida, bewerend dat de crypto-uitwisseling verantwoordelijk is voor onwettige promotie van niet-geregistreerde effecten met behulp van betaalde influencers. 

“This is a classic example of a centralized exchange which is promoting the sale of an unregistered security,” said the filing while explaining the charges.

The three influencers named in the Binance lawsuit are NBA Miami Heat star Jimmy Butler, and YouTubers Graham Stephan and Ben Armstrong (BitBoy Crypto). In a similar lawsuit against Voyager Digital, the law firm claimed that influencers promoting “unregistered securities” are liable for customer losses. It seems that the same issue appears here as well. 

It is crucial to note that the influencers and the exchange are asked to pay $1 billion as damages to investors. “We’ve been investigating these same unregistered security issues against Binance for over a year,” said the lawsuit, while adding that the partners of Binance and CZ are responsible for the losses of the customers and will have to pay accordingly.

De rechtszaak beweert ook dat de investeerders die zijn getroffen door de aanbevelingen van Binance, CZ en de influencers niet verplicht zijn om voor de rechtbank te bewijzen dat ze zijn getroffen door deze promotiecampagnes. Er zijn meer dan drie uitvinders bij de zaak betrokken, waarbij het advocatenkantoor stelt dat mogelijk miljoenen investeerders zijn getroffen. Het plan is om ook meer influencers aan de zaak toe te voegen. 

Binance CEO legt banden met China uit

Binance en zijn relatie met China werden meer dan zeven jaar verborgen gehouden, claims a report from the Financial Times, and this news rocked the industry. “We no longer publish our office addresses … people in China can directly say that our office is not in China,” Zhao had reportedly said in a company message group in November 2017. 

On the other hand, the exchange spoke to Cointelegraph, confirming that it “does not operate in China nor do we have any technology, including servers or data, based in China,” and adding:

“While we did have a customer service call center based in China to service global Mandarin speakers, those employees who wished to remain with the company were offered relocation assistance starting in 2021.”

It is also important to mention here that Binance, CZ, and the exchange’s Chief Compliance Officer, Samuel Lim, were sued by the United States Commodity Futures Trading Commission (CFTC) for schending van handels- en derivatenregels.

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